Investors Buy Shares of PepsiCo (PEP) on Weakness
Investors bought shares of PepsiCo, Inc. (NASDAQ:PEP) on weakness during trading on Wednesday. $153.26 million flowed into the stock on the tick-up and $89.56 million flowed out of the stock on the tick-down, for a money net flow of $63.70 million into the stock. Of all stocks tracked, PepsiCo had the 17th highest net in-flow for the day. PepsiCo traded down ($0.35) for the day and closed at $112.54
PEP has been the subject of a number of research analyst reports. BidaskClub raised shares of PepsiCo from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 24th. JPMorgan Chase & Co. set a $128.00 target price on shares of PepsiCo and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley set a $127.00 target price on shares of PepsiCo and gave the stock a “buy” rating in a research report on Wednesday. Deutsche Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $116.00 target price for the company. in a research report on Tuesday, July 3rd. Finally, Citigroup increased their target price on shares of PepsiCo from $111.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $120.41.
The firm has a market capitalization of $152.79 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 2.56 and a beta of 0.68. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.28 and a quick ratio of 1.15.
The business also recently declared a quarterly dividend, which was paid on Friday, June 29th. Shareholders of record on Friday, June 1st were issued a $0.9275 dividend. This represents a $3.71 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend was Thursday, May 31st. This is a boost from PepsiCo’s previous quarterly dividend of $0.81. PepsiCo’s dividend payout ratio is currently 70.94%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PEP. Tompkins Financial Corp boosted its stake in shares of PepsiCo by 1.2% during the 4th quarter. Tompkins Financial Corp now owns 34,634 shares of the company’s stock valued at $4,153,000 after buying an additional 421 shares during the last quarter. Courier Capital LLC lifted its stake in PepsiCo by 0.6% during the fourth quarter. Courier Capital LLC now owns 72,638 shares of the company’s stock worth $8,711,000 after purchasing an additional 430 shares during the last quarter. Murphy Pohlad Asset Management LLC lifted its stake in PepsiCo by 2.7% during the fourth quarter. Murphy Pohlad Asset Management LLC now owns 17,363 shares of the company’s stock worth $2,082,000 after purchasing an additional 450 shares during the last quarter. Hyman Charles D lifted its stake in PepsiCo by 0.3% during the fourth quarter. Hyman Charles D now owns 168,657 shares of the company’s stock worth $20,225,000 after purchasing an additional 450 shares during the last quarter. Finally, Hendley & Co. Inc. lifted its stake in PepsiCo by 2.0% during the fourth quarter. Hendley & Co. Inc. now owns 22,912 shares of the company’s stock worth $2,748,000 after purchasing an additional 453 shares during the last quarter. Hedge funds and other institutional investors own 69.70% of the company’s stock.
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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