PepsiCo, Inc. (NASDAQ:PEP) Sees Large Decrease in Short Interest

PepsiCo, Inc. (NASDAQ:PEP) saw a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 17,000,000 shares, a decrease of 22.9% from the January 15th total of 22,060,000 shares. Approximately 1.3% of the company’s shares are sold short. Based on an average daily volume of 6,570,000 shares, the days-to-cover ratio is currently 2.6 days.

PepsiCo Trading Up 0.4 %

NASDAQ PEP opened at $144.58 on Friday. PepsiCo has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a 50 day moving average price of $150.41 and a 200 day moving average price of $163.54. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The firm has a market cap of $198.29 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. During the same quarter in the prior year, the business posted $1.78 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, sell-side analysts forecast that PepsiCo will post 8.34 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.75%. PepsiCo’s payout ratio is 77.99%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PEP. Piper Sandler initiated coverage on PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Morgan Stanley lowered their price objective on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Finally, Barclays decreased their price target on shares of PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $171.47.

Institutional Investors Weigh In On PepsiCo

A number of large investors have recently made changes to their positions in PEP. Norges Bank purchased a new position in shares of PepsiCo in the fourth quarter worth about $2,729,565,000. Raymond James Financial Inc. acquired a new position in PepsiCo in the 4th quarter worth approximately $589,307,000. Charles Schwab Investment Management Inc. raised its position in PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock worth $3,834,504,000 after buying an additional 3,856,193 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of PepsiCo by 17,113.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after acquiring an additional 3,201,676 shares during the last quarter. Finally, State Street Corp increased its stake in shares of PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after acquiring an additional 2,775,679 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Company Profile

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.