PepsiCo (NASDAQ:PEP) Shares Down 0.3% – Here’s What Happened

PepsiCo, Inc. (NASDAQ:PEP) shares traded down 0.3% during mid-day trading on Thursday . The stock traded as low as $145.35 and last traded at $145.09. 1,845,303 shares were traded during mid-day trading, a decline of 69% from the average session volume of 6,027,543 shares. The stock had previously closed at $145.59.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PEP shares. BNP Paribas dropped their price target on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Piper Sandler assumed coverage on PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. Jefferies Financial Group cut PepsiCo from a “buy” rating to a “hold” rating and reduced their target price for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. Morgan Stanley cut their price objective on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. decreased their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $169.88.

PepsiCo Stock Down 0.1 %

The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The firm has a 50 day moving average price of $148.47 and a two-hundred day moving average price of $156.13. The company has a market capitalization of $199.50 billion, a price-to-earnings ratio of 20.98, a P/E/G ratio of 3.09 and a beta of 0.49.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.02. The company had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. PepsiCo’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 EPS. As a group, sell-side analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend was Friday, March 7th. PepsiCo’s dividend payout ratio is presently 77.99%.

Institutional Investors Weigh In On PepsiCo

Institutional investors and hedge funds have recently made changes to their positions in the company. Howard Capital Management Group LLC raised its position in shares of PepsiCo by 2.0% during the 3rd quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company’s stock worth $777,000 after purchasing an additional 90 shares during the period. Morse Asset Management Inc bought a new stake in PepsiCo in the third quarter valued at $996,000. Neo Ivy Capital Management acquired a new position in shares of PepsiCo during the third quarter valued at $1,440,000. Fortem Financial Group LLC grew its position in shares of PepsiCo by 6.5% during the third quarter. Fortem Financial Group LLC now owns 1,917 shares of the company’s stock worth $326,000 after acquiring an additional 117 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its position in PepsiCo by 30.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 32,871 shares of the company’s stock valued at $5,590,000 after purchasing an additional 7,648 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

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.