PepsiCo, Inc. (NASDAQ:PEP) Short Interest Up 11.8% in November

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PepsiCo, Inc. (NASDAQ:PEP) saw a significant growth in short interest in the month of November. As of November 29th, there was short interest totalling 11,630,000 shares, a growth of 11.8% from the November 14th total of 10,400,000 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average daily volume of 3,620,000 shares, the days-to-cover ratio is presently 3.2 days.

PEP has been the topic of several analyst reports. BidaskClub upgraded shares of PepsiCo from a “sell” rating to a “hold” rating in a research note on Wednesday, December 4th. Credit Suisse Group raised their price target on shares of PepsiCo from $117.00 to $126.00 and gave the company an “underperform” rating in a research note on Friday, October 4th. Guggenheim set a $130.00 price target on shares of PepsiCo and gave the company a “hold” rating in a research note on Thursday, September 26th. Morgan Stanley restated a “buy” rating and issued a $154.00 price target on shares of PepsiCo in a research note on Tuesday, October 29th. Finally, Deutsche Bank raised their price target on shares of PepsiCo from $141.00 to $142.00 and gave the company a “hold” rating in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the stock. PepsiCo has a consensus rating of “Hold” and a consensus price target of $135.53.

Shares of NASDAQ PEP traded up $0.76 during mid-day trading on Friday, reaching $137.94. 3,390,952 shares of the company traded hands, compared to its average volume of 3,294,490. PepsiCo has a fifty-two week low of $105.03 and a fifty-two week high of $140.45. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.95 and a quick ratio of 0.77. The firm has a market cap of $191.18 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 3.56 and a beta of 0.54. The stock has a fifty day simple moving average of $135.38 and a 200-day simple moving average of $133.78.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $1.56 EPS for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.06. PepsiCo had a net margin of 18.78% and a return on equity of 55.00%. The business had revenue of $17.19 billion for the quarter, compared to analyst estimates of $16.93 billion. During the same quarter last year, the business earned $1.59 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, analysts predict that PepsiCo will post 5.5 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Friday, December 6th will be issued a dividend of $0.955 per share. This represents a $3.82 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Thursday, December 5th. PepsiCo’s payout ratio is 67.49%.

Large investors have recently modified their holdings of the stock. Nuveen Asset Management LLC boosted its stake in PepsiCo by 9,617.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 9,770,327 shares of the company’s stock worth $1,281,183,000 after purchasing an additional 9,669,780 shares during the period. California Public Employees Retirement System boosted its stake in PepsiCo by 20.8% in the 2nd quarter. California Public Employees Retirement System now owns 8,887,074 shares of the company’s stock worth $1,165,362,000 after purchasing an additional 1,528,887 shares during the period. BlackRock Inc. boosted its stake in PepsiCo by 1.4% in the 2nd quarter. BlackRock Inc. now owns 102,361,480 shares of the company’s stock worth $13,422,659,000 after purchasing an additional 1,413,723 shares during the period. USS Investment Management Ltd acquired a new position in PepsiCo in the 3rd quarter worth approximately $180,697,000. Finally, APG Asset Management N.V. boosted its stake in PepsiCo by 32.6% in the 2nd quarter. APG Asset Management N.V. now owns 4,684,180 shares of the company’s stock worth $539,372,000 after purchasing an additional 1,151,329 shares during the period. Hedge funds and other institutional investors own 71.23% of the company’s stock.

About PepsiCo

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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