PepsiCo (NASDAQ:PEP) Trading Down 0.7% – Here’s What Happened

PepsiCo, Inc. (NASDAQ:PEP) dropped 0.7% during mid-day trading on Wednesday . The stock traded as low as $162.40 and last traded at $163.22. Approximately 1,061,551 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 5,435,698 shares. The stock had previously closed at $164.34.

Analysts Set New Price Targets

Several research firms recently weighed in on PEP. Royal Bank of Canada cut their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research report on Friday, September 20th. Barclays lowered their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, DZ Bank lowered 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 equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Up 0.2 %

The company has a market cap of $226.58 billion, a P/E ratio of 24.36, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company has a fifty day moving average of $171.48 and a 200 day moving average of $171.72.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Global Wealth Strategies & Associates boosted its stake in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the period. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo in the third quarter worth $28,000. POM Investment Strategies LLC grew 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 acquiring an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new stake in PepsiCo in the 2nd quarter valued at $30,000. Finally, Mattson Financial Services LLC purchased a new stake in PepsiCo in the 2nd quarter worth $34,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

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.