PepsiCo, Inc. (NASDAQ:PEP) Sees Large Growth in Short Interest

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PepsiCo, Inc. (NASDAQ:PEP) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 7,520,000 shares, a growth of 19.9% from the August 31st total of 6,270,000 shares. Based on an average daily volume of 4,170,000 shares, the days-to-cover ratio is currently 1.8 days. Approximately 0.5% of the shares of the company are short sold.

A number of equities analysts have issued reports on PEP shares. UBS Group raised their price target on shares of PepsiCo from $140.00 to $146.00 in a research report on Friday. Morgan Stanley raised their price target on shares of PepsiCo from $155.00 to $158.00 and gave the stock an “overweight” rating in a research report on Friday. Truist raised their price target on shares of PepsiCo from $130.00 to $135.00 in a research report on Friday. Jefferies Financial Group raised their price target on shares of PepsiCo from $130.00 to $135.00 and gave the stock a “hold” rating in a research report on Thursday, July 9th. Finally, Zacks Investment Research lowered shares of PepsiCo from a “hold” rating to a “sell” rating and set a $140.00 target price for the company. in a report on Friday, September 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $142.89.

PepsiCo stock traded down $2.74 during trading on Friday, reaching $138.06. The company had a trading volume of 5,115,892 shares, compared to its average volume of 5,480,959. The firm’s 50-day simple moving average is $136.60 and its 200 day simple moving average is $132.46. PepsiCo has a 1-year low of $101.42 and a 1-year high of $147.20. The firm has a market capitalization of $191.16 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 4.53 and a beta of 0.56. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.79 and a current ratio of 0.97.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Thursday, October 1st. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.17. PepsiCo had a net margin of 10.13% and a return on equity of 54.77%. The firm had revenue of $18.09 billion for the quarter, compared to analysts’ expectations of $17.24 billion. During the same quarter last year, the company earned $1.56 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts anticipate that PepsiCo will post 5.34 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 4th were paid a $1.0225 dividend. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $4.09 dividend on an annualized basis and a yield of 2.96%. PepsiCo’s dividend payout ratio is currently 73.96%.

In other PepsiCo news, CEO Steven C. Williams sold 2,600 shares of the firm’s stock in a transaction that occurred on Wednesday, July 15th. The shares were sold at an average price of $134.32, for a total transaction of $349,232.00. Following the completion of the transaction, the chief executive officer now directly owns 67,718 shares of the company’s stock, valued at approximately $9,095,881.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ronald Schellekens sold 7,611 shares of the firm’s stock in a transaction that occurred on Wednesday, July 15th. The stock was sold at an average price of $135.35, for a total transaction of $1,030,148.85. Following the transaction, the executive vice president now directly owns 36,639 shares of the company’s stock, valued at $4,959,088.65. The disclosure for this sale can be found here. Insiders sold a total of 26,655 shares of company stock valued at $3,591,883 over the last ninety days. 0.13% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Creative Financial Designs Inc. ADV purchased a new position in shares of PepsiCo during the 2nd quarter worth $26,000. Evolution Wealth Advisors LLC raised its holdings in shares of PepsiCo by 342.2% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 283 shares of the company’s stock worth $37,000 after acquiring an additional 219 shares during the period. RPG Investment Advisory LLC raised its holdings in shares of PepsiCo by 191.0% during the 2nd quarter. RPG Investment Advisory LLC now owns 291 shares of the company’s stock worth $38,000 after acquiring an additional 191 shares during the period. Marquette Asset Management LLC purchased a new position in shares of PepsiCo during the 2nd quarter worth $40,000. Finally, Ellevest Inc. raised its holdings in shares of PepsiCo by 144.7% during the 2nd quarter. Ellevest Inc. now owns 367 shares of the company’s stock worth $49,000 after acquiring an additional 217 shares during the period. 70.16% of the stock is currently owned by institutional investors.

PepsiCo Company Profile

PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its 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 Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.

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