PepsiCo (NASDAQ:PEP) Trading Up 0.8% – Here’s What Happened

PepsiCo, Inc. (NASDAQ:PEP)’s stock price traded up 0.8% during mid-day trading on Thursday . The company traded as high as $151.70 and last traded at $151.64. 803,020 shares traded hands during trading, a decline of 88% from the average session volume of 6,447,606 shares. The stock had previously closed at $150.37.

Wall Street Analyst Weigh In

PEP has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a report on Friday, January 24th. TD Cowen cut their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $172.00 price objective on shares of PepsiCo in a report on Wednesday. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, Barclays lowered their price objective on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $176.73.

PepsiCo Trading Down 0.8 %

The stock has a market cap of $206.75 billion, a P/E ratio of 22.23, a P/E/G ratio of 2.91 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The firm’s 50 day moving average price is $153.12 and its 200-day moving average price is $164.88.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

Institutional Trading of PepsiCo

Institutional investors have recently made changes to their positions in the stock. Highline Wealth Partners LLC bought a new stake in PepsiCo in the 3rd quarter worth approximately $28,000. Collier Financial bought a new stake in shares of PepsiCo in the fourth quarter worth $28,000. Creative Capital Management Investments LLC purchased a new stake in PepsiCo during the fourth quarter valued at $30,000. Legacy Investment Solutions LLC bought a new position in PepsiCo in the third quarter valued at about $31,000. Finally, Mattson Financial Services LLC purchased a new position in PepsiCo in the second quarter worth about $34,000. 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.