PepsiCo (NASDAQ:PEP) Shares Up 0.9% on Strong Earnings

Shares of PepsiCo, Inc. (NASDAQ:PEP) traded up 0.9% during mid-day trading on Wednesday following a stronger than expected earnings report. The company traded as high as $173.41 and last traded at $172.74. 1,831,636 shares were traded during trading, a decline of 68% from the average session volume of 5,747,046 shares. The stock had previously closed at $171.22.

The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 9.92% and a return on equity of 58.03%. The company had revenue of $18.25 billion for the quarter, compared to analyst estimates of $18.08 billion. During the same quarter in the previous year, the firm posted $1.50 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a $1.265 dividend. This represents a $5.06 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Thursday, February 29th. PepsiCo’s dividend payout ratio (DPR) is currently 77.02%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of PepsiCo from $181.00 to $184.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Citigroup raised shares of PepsiCo from a “neutral” rating to a “buy” rating and upped their target price for the stock from $180.00 to $195.00 in a report on Monday, February 12th. Wedbush reaffirmed an “outperform” rating and set a $195.00 target price on shares of PepsiCo in a report on Tuesday. Barclays upped their target price on shares of PepsiCo from $183.00 to $184.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Finally, Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a report on Monday, March 18th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, PepsiCo has an average rating of “Moderate Buy” and an average target price of $187.33.

Hedge Funds Weigh In On PepsiCo

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of PepsiCo in the 4th quarter valued at $2,686,139,000. International Assets Investment Management LLC boosted its stake in shares of PepsiCo by 9,623.6% in the 4th quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock valued at $519,381,000 after purchasing an additional 3,026,611 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of PepsiCo in the 3rd quarter valued at $329,179,000. Flossbach Von Storch AG boosted its stake in shares of PepsiCo by 121.4% in the 4th quarter. Flossbach Von Storch AG now owns 2,727,622 shares of the company’s stock valued at $463,259,000 after purchasing an additional 1,495,586 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of PepsiCo by 17.9% in the 4th quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after purchasing an additional 1,470,064 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 3.6 %

The company has a market cap of $243.85 billion, a PE ratio of 27.00, a PEG ratio of 2.77 and a beta of 0.53. The stock’s 50 day moving average price is $169.04 and its 200-day moving average price is $167.70. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.68 and a current ratio of 0.85.

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.