PepsiCo (NASDAQ:PEP) Trading 0.2% Higher – Here’s What Happened

PepsiCo, Inc. (NASDAQ:PEP) traded up 0.2% during trading on Thursday . The stock traded as high as $145.23 and last traded at $145.01. 868,300 shares traded hands during trading, a decline of 87% from the average session volume of 6,659,399 shares. The stock had previously closed at $144.78.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Piper Sandler assumed coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research note on Friday, September 20th. Barclays reduced their price objective on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday. TD Cowen reduced their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and upped their price target for the company from $179.00 to $184.00 in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $178.60.

PepsiCo Price Performance

The stock has a market cap of $203.40 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54. The stock’s 50 day moving average price is $155.37 and its two-hundred day moving average price is $165.82. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were given a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.66%. PepsiCo’s dividend payout ratio is presently 79.94%.

Institutional Trading of PepsiCo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PEP. Global Wealth Strategies & Associates grew its position in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the period. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo in the third quarter valued at about $28,000. Legacy Investment Solutions LLC purchased a new position in shares of PepsiCo in the third quarter worth about $31,000. Rakuten Securities Inc. lifted its stake in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after buying an additional 96 shares in the last quarter. Finally, Mattson Financial Services LLC purchased a new position in shares of PepsiCo in the second quarter worth about $34,000. Institutional investors and hedge funds 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.