PepsiCo (NASDAQ:PEP) Stock Price Down 1.5% – Here’s Why

PepsiCo, Inc. (NASDAQ:PEP) shares were down 1.5% during trading on Monday . The company traded as low as $150.45 and last traded at $150.49. Approximately 913,651 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 5,581,431 shares. The stock had previously closed at $152.79.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PEP. JPMorgan Chase & Co. dropped their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Royal Bank of Canada reduced their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. Barclays lowered their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Finally, StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $184.31.

PepsiCo Stock Down 1.6 %

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 firm’s fifty day simple moving average is $164.00 and its 200 day simple moving average is $168.34. The stock has a market capitalization of $206.32 billion, a price-to-earnings ratio of 22.18, a P/E/G ratio of 2.94 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the business posted $2.25 earnings per share. On average, sell-side analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

Hedge Funds Weigh In On PepsiCo

Several hedge funds have recently made changes to their positions in the business. Independent Solutions Wealth Management LLC boosted its stake in shares of PepsiCo by 27.2% during the 3rd quarter. Independent Solutions Wealth Management LLC now owns 3,361 shares of the company’s stock worth $572,000 after buying an additional 719 shares during the last quarter. Brass Tax Wealth Management Inc. boosted its position in PepsiCo by 8.7% during the third quarter. Brass Tax Wealth Management Inc. now owns 2,660 shares of the company’s stock valued at $452,000 after purchasing an additional 212 shares during the last quarter. Retirement Systems of Alabama grew its stake in PepsiCo by 22.1% in the third quarter. Retirement Systems of Alabama now owns 657,482 shares of the company’s stock valued at $111,805,000 after purchasing an additional 118,983 shares in the last quarter. Inspire Trust Co. N.A. raised its stake in shares of PepsiCo by 12.4% during the 3rd quarter. Inspire Trust Co. N.A. now owns 12,300 shares of the company’s stock worth $2,092,000 after purchasing an additional 1,355 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after buying an additional 2,264,445 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

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.