PepsiCo (NASDAQ:PEP) Stock Price Up 2.6% – Here’s What Happened

PepsiCo, Inc. (NASDAQ:PEP)’s stock price rose 2.6% during trading on Monday . The stock traded as high as $154.44 and last traded at $153.05. Approximately 2,174,959 shares were traded during trading, a decline of 66% from the average daily volume of 6,414,294 shares. The stock had previously closed at $149.12.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PEP. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft reduced their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. UBS Group lowered their price target on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Bank of America decreased their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo currently has an average rating of “Hold” and an average target price of $177.00.

PepsiCo Trading Up 4.0 %

The company has a market capitalization of $212.81 billion, a P/E ratio of 22.88, a PEG ratio of 2.86 and a beta of 0.54. The business has a fifty day moving average of $153.88 and a 200-day moving average of $165.35. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.49%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is presently 79.94%.

Institutional Investors Weigh In On PepsiCo

Institutional investors have recently bought and sold shares of the stock. Scientech Research LLC bought a new stake in PepsiCo during the second quarter worth $325,000. Ascent Group LLC boosted its holdings in shares of PepsiCo by 6.4% in the 2nd quarter. Ascent Group LLC now owns 31,284 shares of the company’s stock worth $5,160,000 after buying an additional 1,883 shares during the last quarter. Magnolia Capital Advisors LLC bought a new position in PepsiCo during the second quarter valued at about $1,421,000. NewEdge Advisors LLC raised its position in PepsiCo by 10.0% in the second quarter. NewEdge Advisors LLC now owns 212,291 shares of the company’s stock worth $35,013,000 after acquiring an additional 19,249 shares during the period. Finally, Covington Investment Advisors Inc. boosted its stake in PepsiCo by 1.7% in the second quarter. Covington Investment Advisors Inc. now owns 25,357 shares of the company’s stock valued at $4,182,000 after acquiring an additional 429 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

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.