PepsiCo (NASDAQ:PEP) Shares Up 0.3%

Shares of PepsiCo, Inc. (NASDAQ:PEP) were up 0.3% during trading on Tuesday . The stock traded as high as $179.00 and last traded at $178.67. Approximately 667,644 shares traded hands during trading, a decline of 88% from the average daily volume of 5,441,558 shares. The stock had previously closed at $178.19.

Analyst Ratings Changes

A number of analysts have weighed in on PEP shares. Bank of America reduced their price objective on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Wells Fargo & Company decreased their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. JPMorgan Chase & Co. cut their target price on PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Barclays boosted their price target on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, BNP Paribas assumed coverage on PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.53.

PepsiCo Stock Performance

The company has a market cap of $244.83 billion, a PE ratio of 25.87, a P/E/G ratio of 3.06 and a beta of 0.53. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The business’s fifty day moving average is $171.27 and its 200-day moving average is $171.24.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. During the same quarter in the previous year, the firm posted $2.09 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a dividend of $1.355 per share. The ex-dividend date is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.04%. PepsiCo’s payout ratio is currently 78.66%.

Hedge Funds Weigh In On PepsiCo

A number of hedge funds have recently modified their holdings of the company. Valued Wealth Advisors LLC grew its position in shares of PepsiCo by 77.5% during the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares in the last quarter. POM Investment Strategies LLC grew its holdings in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of PepsiCo in the second quarter worth $30,000. Fortis Group Advisors LLC boosted its position in shares of PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after acquiring an additional 97 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new position in PepsiCo during the first quarter valued at $35,000. 73.07% of the stock is currently owned by institutional investors.

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.