PepsiCo (NASDAQ:PEP) Trading 0.5% Higher – Here’s What Happened

PepsiCo, Inc. (NASDAQ:PEP)’s stock price rose 0.5% during trading on Tuesday . The company traded as high as $167.24 and last traded at $167.24. Approximately 546,220 shares traded hands during trading, a decline of 90% from the average daily volume of 5,442,569 shares. The stock had previously closed at $166.34.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. JPMorgan Chase & Co. lowered their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Royal Bank of Canada dropped their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Finally, Barclays decreased their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Performance

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 stock’s 50-day moving average price is $172.84 and its 200 day moving average price is $172.20. The firm has a market cap of $230.04 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.25 earnings per share. As a group, equities analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

Institutional Trading of PepsiCo

A number of large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in shares of PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of PepsiCo by 7.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after purchasing an additional 700,092 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in PepsiCo by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after purchasing an additional 561,465 shares during the period. Ameriprise Financial Inc. increased its stake in PepsiCo by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after acquiring an additional 57,322 shares during the last quarter. Finally, Flossbach Von Storch AG raised its stake in PepsiCo by 67.2% during the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after acquiring an additional 1,832,385 shares in the last quarter. 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.