PepsiCo (NASDAQ:PEP) Shares Down 1.1% – Here’s What Happened

Shares of PepsiCo, Inc. (NASDAQ:PEP) dropped 1.1% during mid-day trading on Wednesday . The stock traded as low as $173.97 and last traded at $173.99. Approximately 761,767 shares were traded during trading, a decline of 86% from the average daily volume of 5,482,329 shares. The stock had previously closed at $175.90.

Wall Street Analysts Forecast Growth

PEP has been the topic of a number of research reports. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday. BNP Paribas began coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Up 0.2 %

The firm has a market cap of $240.67 billion, a PE ratio of 25.37, a P/E/G ratio of 3.11 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.64. The business has a fifty day moving average price of $173.73 and a two-hundred day moving average price of $172.12.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.25 EPS. On average, analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were given a $1.355 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.10%. PepsiCo’s payout ratio is 78.66%.

Institutional Trading of PepsiCo

A number of institutional investors have recently bought and sold shares of PEP. Flossbach Von Storch AG lifted its holdings in shares of PepsiCo by 67.2% during the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after buying an additional 1,832,385 shares during the last quarter. Swedbank AB lifted its stake in PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after acquiring an additional 1,592,343 shares during the last quarter. PineStone Asset Management Inc. grew its position in PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after acquiring an additional 1,523,631 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of PepsiCo by 429.3% during the 1st quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after purchasing an additional 1,179,922 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of PepsiCo by 7.2% during 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 purchasing an additional 905,468 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

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.