PepsiCo (NASDAQ:PEP) Shares Down 1.6% – Here’s What Happened

PepsiCo, Inc. (NASDAQ:PEP)’s share price fell 1.6% during trading on Wednesday . The company traded as low as $168.55 and last traded at $168.72. 925,191 shares were traded during trading, a decline of 83% from the average session volume of 5,475,127 shares. The stock had previously closed at $171.38.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PEP. Bank of America reduced their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday. StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Friday, September 20th. Barclays boosted their price objective on PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Royal Bank of Canada cut their target price on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Finally, Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a report on Friday, September 20th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $185.43.

PepsiCo Stock Performance

The firm has a 50 day moving average of $173.90 and a 200-day moving average of $172.13. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The company has a market cap of $230.70 billion, a P/E ratio of 24.46, a PEG ratio of 2.93 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The business had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. During the same period in the previous year, the business earned $2.09 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.14 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were issued a dividend of $1.355 per share. The ex-dividend date was Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.23%. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

Institutional Trading of PepsiCo

A number of large investors have recently made changes to their positions in PEP. Global Wealth Strategies & Associates boosted its holdings in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the last quarter. Valued Wealth Advisors LLC boosted its stake in PepsiCo by 77.5% in the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after acquiring an additional 69 shares during the period. POM Investment Strategies LLC increased its holdings in shares of PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after acquiring an additional 106 shares during the period. Summit Securities Group LLC acquired a new position in PepsiCo during the 2nd quarter worth $30,000. Finally, Fortis Group Advisors LLC raised its holdings in PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 97 shares in the last quarter. 73.07% of the stock is 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.