PepsiCo (NASDAQ:PEP) Shares Down 0%

PepsiCo, Inc. (NASDAQ:PEP)’s share price fell 0% on Thursday . The stock traded as low as $174.15 and last traded at $175.20. 1,237,108 shares were traded during mid-day trading, a decline of 77% from the average session volume of 5,412,387 shares. The stock had previously closed at $175.21.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Royal Bank of Canada reduced their target price on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Bank of America decreased their target price on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research report on Friday. Finally, DZ Bank cut PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a report on Friday, July 19th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $185.53.

PepsiCo Stock Performance

The company has a market capitalization of $235.13 billion, a PE ratio of 24.84, a P/E/G ratio of 3.06 and a beta of 0.53. The stock’s 50-day simple moving average is $173.51 and its 200 day simple moving average is $171.74. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. PepsiCo’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the firm earned $2.09 earnings per share. As a group, research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.17%. PepsiCo’s payout ratio is currently 78.66%.

Institutional Investors Weigh In On PepsiCo

Several hedge funds and other institutional investors have recently bought and sold shares of PEP. Flossbach Von Storch AG increased its position in shares of PepsiCo by 67.2% during the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after purchasing an additional 1,832,385 shares in the last quarter. PineStone Asset Management Inc. lifted its stake in PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after buying an additional 1,523,631 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of PepsiCo by 429.3% in the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock valued at $254,603,000 after acquiring an additional 1,179,922 shares during the period. Confluence Investment Management LLC purchased a new position in shares of PepsiCo during the first quarter worth approximately $166,243,000. Finally, Legal & General Group Plc increased its holdings in shares of PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after acquiring an additional 905,468 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

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.