Pepsico, Inc. (NASDAQ:PEP) was the target of a significant growth in short interest in December. As of December 29th, there was short interest totalling 7,506,662 shares, a growth of Infinity from the December 15th total of 0 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average trading volume of 2,917,985 shares, the days-to-cover ratio is currently 2.6 days.
Several equities analysts recently weighed in on the company. Macquarie assumed coverage on Pepsico in a research report on Thursday, September 14th. They set an “outperform” rating and a $125.00 target price on the stock. Cowen restated a “buy” rating on shares of Pepsico in a report on Sunday, September 17th. Jefferies Group lowered Pepsico from a “buy” rating to a “hold” rating and lowered their target price for the company from $133.00 to $108.00 in a research note on Monday, October 2nd. Susquehanna Bancshares reiterated a “buy” rating and issued a $135.00 target price on shares of Pepsico in a research note on Monday, October 2nd. Finally, Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a research note on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $123.18.
Hedge funds have recently bought and sold shares of the company. First National Bank of Mount Dora Trust Investment Services acquired a new position in shares of Pepsico in the 4th quarter valued at $201,000. White Lighthouse Investment Management Inc. acquired a new position in shares of Pepsico during the 4th quarter worth about $240,000. Pure Financial Advisors Inc. acquired a new position in shares of Pepsico during the 4th quarter worth about $295,000. Sawyer & Company Inc acquired a new position in shares of Pepsico during the 4th quarter worth about $1,681,000. Finally, First Citizens Bank & Trust Co. boosted its stake in shares of Pepsico by 49.9% during the 4th quarter. First Citizens Bank & Trust Co. now owns 37,754 shares of the company’s stock worth $4,527,000 after buying an additional 12,567 shares during the last quarter. 70.20% of the stock is currently owned by institutional investors.
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 8th. Shareholders of record on Friday, December 1st were issued a dividend of $0.805 per share. This represents a $3.22 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Thursday, November 30th. Pepsico’s dividend payout ratio is 66.53%.
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Pepsico Company Profile
PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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