PepsiCo (NASDAQ:PEP) Shares Down 0.9% – What’s Next?

PepsiCo, Inc. (NASDAQ:PEP)’s share price was down 0.9% on Monday . The stock traded as low as $151.09 and last traded at $151.45. Approximately 992,893 shares were traded during trading, a decline of 82% from the average daily volume of 5,572,411 shares. The stock had previously closed at $152.89.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PEP. Deutsche Bank Aktiengesellschaft raised PepsiCo from a “hold” rating to a “buy” rating and increased their price objective for the stock from $179.00 to $184.00 in a research note on Thursday, December 12th. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and cut their price target for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a report on Friday, September 20th. Bank of America cut their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Royal Bank of Canada lowered their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $184.31.

PepsiCo Stock Performance

The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The stock has a market cap of $208.62 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 2.94 and a beta of 0.52. The firm has a fifty day moving average price of $160.81 and a 200 day moving average price of $167.60.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same period last year, the business posted $2.25 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. Research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be paid a dividend of $1.355 per share. The ex-dividend date is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.56%. PepsiCo’s payout ratio is 79.94%.

Hedge Funds Weigh In On PepsiCo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC raised its stake in shares of PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after purchasing an additional 8,406 shares during the last quarter. Janus Henderson Group PLC increased its holdings in PepsiCo by 11.0% in the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after buying an additional 34,633 shares during the period. IHT Wealth Management LLC raised its position in PepsiCo by 19.3% during the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after buying an additional 5,220 shares during the last quarter. Meridian Wealth Management LLC purchased a new stake in shares of PepsiCo in the 3rd quarter valued at $9,589,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of PepsiCo in the third quarter worth $527,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.