PepsiCo (NASDAQ:PEP) Stock Price Up 0.4% – Here’s Why

PepsiCo, Inc. (NASDAQ:PEP) was up 0.4% during mid-day trading on Thursday . The stock traded as high as $165.62 and last traded at $165.40. Approximately 806,028 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 5,428,703 shares. The stock had previously closed at $164.74.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PEP. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. JPMorgan Chase & Co. decreased their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Barclays dropped their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Finally, Bank of America dropped their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Trading Up 1.3 %

The stock has a market capitalization of $228.93 billion, a PE ratio of 24.40, a PEG ratio of 3.06 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock’s 50 day moving average price is $171.48 and its 200-day moving average price is $171.72.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the company posted $2.25 earnings per share. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PepsiCo

Several hedge funds and other institutional investors have recently made changes to their positions in the company. William Allan Corp grew its stake in PepsiCo by 4.4% in the 3rd quarter. William Allan Corp now owns 13,454 shares of the company’s stock worth $2,288,000 after acquiring an additional 563 shares in the last quarter. Peterson Wealth Management lifted its position in shares of PepsiCo by 0.4% during the third quarter. Peterson Wealth Management now owns 34,691 shares of the company’s stock valued at $5,899,000 after buying an additional 153 shares during the last quarter. Vinva Investment Management Ltd boosted its stake in PepsiCo by 4.8% in the third quarter. Vinva Investment Management Ltd now owns 76,650 shares of the company’s stock valued at $13,030,000 after acquiring an additional 3,519 shares in the last quarter. Financial Counselors Inc. increased its position in PepsiCo by 2.6% during the 3rd quarter. Financial Counselors Inc. now owns 364,673 shares of the company’s stock valued at $62,013,000 after buying an additional 9,300 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its stake in shares of PepsiCo by 30.7% during the third quarter. Public Sector Pension Investment Board now owns 69,036 shares of the company’s stock worth $11,740,000 after acquiring an additional 16,200 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.