PepsiCo (NASDAQ:PEP) Trading Down 4.6% Following Analyst Downgrade

PepsiCo, Inc. (NASDAQ:PEP) was down 4.6% during trading on Tuesday after Evercore ISI lowered their price target on the stock from $180.00 to $160.00. The stock traded as low as $143.61 and last traded at $143.32. Approximately 4,558,638 shares changed hands during trading, a decline of 29% from the average daily volume of 6,449,310 shares. The stock had previously closed at $150.27.

A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. UBS Group dropped their target price on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Royal Bank of Canada started coverage on shares of PepsiCo in a research report on Tuesday. They set a $172.00 target price on the stock. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, TD Cowen reduced their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $174.53.

Hedge Funds Weigh In On PepsiCo

A number of large investors have recently modified their holdings of PEP. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo during the third quarter valued at approximately $28,000. Collier Financial purchased a new stake in shares of PepsiCo during the 4th quarter valued at $28,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo in the third quarter valued at about $31,000. Rakuten Securities Inc. grew its holdings in PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the period. Finally, Creative Capital Management Investments LLC bought a new stake in PepsiCo in the 4th quarter valued at about $30,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Down 4.4 %

The stock’s 50 day moving average is $153.12 and its 200 day moving average is $164.85. 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 company has a market capitalization of $197.10 billion, a PE ratio of 21.22, a PEG ratio of 2.92 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.77%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

PepsiCo Company Profile

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.