Short Interest in PepsiCo, Inc. (NASDAQ:PEP) Increases By 5.2%

PepsiCo, Inc. (NASDAQ:PEP) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 10,067,200 shares, a growth of 5.2% from the June 30th total of 9,573,500 shares. Based on an average daily volume of 4,470,000 shares, the days-to-cover ratio is currently 2.3 days. Approximately 0.7% of the shares of the company are sold short.

A number of equities research analysts recently issued reports on the stock. Deutsche Bank lifted their price target on shares of PepsiCo from $120.00 to $131.00 and gave the company a “hold” rating in a research note on Thursday, April 18th. Royal Bank of Canada set a $115.00 price target on shares of PepsiCo and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Morgan Stanley lifted their price target on shares of PepsiCo from $137.00 to $143.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Macquarie lifted their price target on shares of PepsiCo from $126.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Finally, Goldman Sachs Group set a $132.00 price target on shares of PepsiCo and gave the company a “neutral” rating in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company’s stock. PepsiCo presently has a consensus rating of “Hold” and a consensus price target of $129.35.

PEP stock traded up $1.04 during midday trading on Friday, reaching $131.76. The stock had a trading volume of 3,566,166 shares, compared to its average volume of 4,781,396. The company’s fifty day simple moving average is $130.78 and its 200 day simple moving average is $125.26. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 1.97. The company has a market cap of $181.66 billion, a price-to-earnings ratio of 23.28, a price-to-earnings-growth ratio of 3.37 and a beta of 0.60. PepsiCo has a 52-week low of $104.53 and a 52-week high of $135.24.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, July 9th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.05. The company had revenue of $16.45 billion for the quarter, compared to analyst estimates of $16.44 billion. PepsiCo had a return on equity of 59.50% and a net margin of 19.59%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.61 EPS. Sell-side analysts predict that PepsiCo will post 5.51 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a $0.955 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.82 dividend on an annualized basis and a yield of 2.90%. PepsiCo’s payout ratio is currently 67.49%.

In related news, CEO Kirk Tanner sold 9,573 shares of PepsiCo stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $128.15, for a total value of $1,226,779.95. Following the sale, the chief executive officer now owns 105,350 shares of the company’s stock, valued at approximately $13,500,602.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven C. Williams sold 2,420 shares of PepsiCo stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $133.95, for a total transaction of $324,159.00. Following the completion of the sale, the chief executive officer now directly owns 54,920 shares in the company, valued at approximately $7,356,534. The disclosure for this sale can be found here. 0.28% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in PEP. Stuart Chaussee & Associates Inc. raised its holdings in shares of PepsiCo by 18.8% during the 2nd quarter. Stuart Chaussee & Associates Inc. now owns 505 shares of the company’s stock worth $66,000 after acquiring an additional 80 shares during the period. Sigma Investment Counselors Inc. raised its holdings in shares of PepsiCo by 2.5% during the 2nd quarter. Sigma Investment Counselors Inc. now owns 3,415 shares of the company’s stock worth $448,000 after acquiring an additional 82 shares during the period. Alera Investment Advisors LLC raised its holdings in shares of PepsiCo by 3.5% during the 2nd quarter. Alera Investment Advisors LLC now owns 2,471 shares of the company’s stock worth $324,000 after acquiring an additional 84 shares during the period. Strategic Financial Group LLC raised its holdings in shares of PepsiCo by 2.7% during the 2nd quarter. Strategic Financial Group LLC now owns 3,242 shares of the company’s stock worth $425,000 after acquiring an additional 86 shares during the period. Finally, Laffer Investments raised its holdings in shares of PepsiCo by 1.6% during the 2nd quarter. Laffer Investments now owns 5,739 shares of the company’s stock worth $753,000 after acquiring an additional 93 shares during the period. Institutional investors own 71.26% of the company’s stock.

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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