PepsiCo (NASDAQ:PEP) Shares Up 1.2% – Time to Buy?

Shares of PepsiCo, Inc. (NASDAQ:PEP) shot up 1.2% during mid-day trading on Monday . The company traded as high as $148.62 and last traded at $148.25. 7,213,692 shares were traded during mid-day trading, an increase of 22% from the average session volume of 5,895,834 shares. The stock had previously closed at $146.54.

Analyst Ratings Changes

PEP has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised PepsiCo from a “hold” rating to a “buy” rating and increased their target price for the company from $179.00 to $184.00 in a report on Thursday, December 12th. Piper Sandler started coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price for the company. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Barclays decreased their target price on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Wells Fargo & Company reduced their price target on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $178.60.

PepsiCo Stock Up 0.2 %

The business’s 50 day simple moving average is $155.05 and its 200 day simple moving average is $165.76. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $203.81 billion, a PE ratio of 21.91, a PEG ratio of 2.74 and a beta of 0.54.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

Hedge Funds Weigh In On PepsiCo

Several hedge funds have recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates raised its holdings in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the period. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo during the third quarter worth approximately $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of PepsiCo in the third quarter valued at approximately $31,000. Mattson Financial Services LLC bought a new position in PepsiCo in the second quarter worth approximately $34,000. Finally, Rakuten Securities Inc. increased its holdings in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares during the period. 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.