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

Shares of PepsiCo, Inc. (NASDAQ:PEP) were down 0.3% on Wednesday . The stock traded as low as $166.55 and last traded at $167.02. Approximately 589,788 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 5,443,547 shares. The stock had previously closed at $167.50.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PEP shares. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and lowered their price target for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Wells Fargo & Company lowered their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. DZ Bank cut PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a report on Friday, July 19th. Finally, Bank of America lowered their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Performance

The stock has a market cap of $227.09 billion, a PE ratio of 24.43, a PEG ratio of 3.10 and a beta of 0.53. The stock has a fifty day simple moving average of $173.24 and a two-hundred day simple moving average of $172.20. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

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

Institutional Investors Weigh In On PepsiCo

Institutional investors and hedge funds have recently made changes to their positions in the company. Global Wealth Strategies & Associates grew its stake in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the last quarter. Highline Wealth Partners LLC bought a new position in PepsiCo during the third quarter valued at about $28,000. POM Investment Strategies LLC boosted its stake in PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of PepsiCo during the second quarter valued at $30,000. Finally, Mattson Financial Services LLC purchased a new stake in shares of PepsiCo during the second quarter valued at $34,000. 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.