Food and beverage major PepsiCo, Inc. (NASDAQ: PEP) recently announced a quarterly dividend of $1.075 per share, an increase of more than 5% from the previous dividend of $1.0225.
The dividend will be paid on March 31, 2022, to shareholders of record as of March 4, 2022.
Following the news, shares of the company rose marginally to close at $175.50 in Wednesday’s extended trading session.
The company’s annual dividend of $4.3 per share now reflects a dividend yield of 2.5% based on Wednesday’s closing price.
Notably, the company has been raising its quarterly dividend consistently over the past several decades, making it an attractive choice for investors.
Recently, Morgan Stanley analyst Devin McDermott reiterated a Buy rating on the stock with a price target of $166, which implies upside potential of 25.1% from current levels.
The Wall Street community is cautiously optimistic about the stock with a Moderate Buy consensus rating based on 2 Buys and 5 Holds. The average Pepsi price target of $176.86 implies that the stock has upside potential of 0.79% from current levels. Shares have gained 27.1% over the past year.
News Sentiment for PEP is Positive based on 32 articles over the past seven days. 100% of the articles have Bullish sentiment, compared to a sector average of 64%.
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