PepsiCo (NASDAQ:PEP) Trading Up 0.6% – Here’s What Happened

Shares of PepsiCo, Inc. (NASDAQ:PEP) were up 0.6% during mid-day trading on Friday . The stock traded as high as $165.53 and last traded at $165.04. Approximately 633,213 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 5,445,430 shares. The stock had previously closed at $164.00.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. JPMorgan Chase & Co. dropped their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Royal Bank of Canada cut their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Finally, Barclays lowered their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Up 0.7 %

The stock has a fifty day simple moving average of $172.19 and a two-hundred day simple moving average of $171.97. The firm has a market cap of $226.53 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

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

Institutional Investors Weigh In On PepsiCo

Several large investors have recently added to or reduced their stakes in the business. LPL Financial LLC increased its position in shares of PepsiCo by 8.4% in the third quarter. LPL Financial LLC now owns 1,844,337 shares of the company’s stock worth $313,629,000 after purchasing an additional 142,191 shares during the last quarter. Tradewinds LLC. grew its stake in PepsiCo by 4.2% in the 3rd quarter. Tradewinds LLC. now owns 39,368 shares of the company’s stock worth $6,695,000 after buying an additional 1,583 shares in the last quarter. German American Bancorp Inc. raised its position in shares of PepsiCo by 24.8% during the 3rd quarter. German American Bancorp Inc. now owns 3,455 shares of the company’s stock valued at $588,000 after buying an additional 687 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of PepsiCo by 12.8% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,141,904 shares of the company’s stock worth $194,180,000 after acquiring an additional 129,358 shares during the last quarter. Finally, Cornerstone Advisors LLC grew its position in PepsiCo by 4.5% in the third quarter. Cornerstone Advisors LLC now owns 76,200 shares of the company’s stock worth $12,958,000 after acquiring an additional 3,300 shares in the last quarter. 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.