PepsiCo (NASDAQ:PEP) Hits New 52-Week Low – Here’s What Happened

PepsiCo, Inc. (NASDAQ:PEP)’s stock price reached a new 52-week low on Friday . The company traded as low as $149.56 and last traded at $149.65, with a volume of 5213163 shares traded. The stock had previously closed at $150.21.

Analysts Set New Price Targets

Several analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and lowered their price target for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Barclays cut their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and lifted their target price for the stock from $179.00 to $184.00 in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $184.31.

PepsiCo Trading Down 0.4 %

The company has a fifty day simple moving average of $159.95 and a 200-day simple moving average of $167.37. The stock has a market cap of $205.32 billion, a price-to-earnings ratio of 22.07, a P/E/G ratio of 2.94 and a beta of 0.52. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share 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 the consensus estimate of $23.86 billion. During the same quarter in the prior year, the company earned $2.25 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. On average, research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s dividend payout ratio is 79.94%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PEP. Global Wealth Strategies & Associates raised its holdings in shares of PepsiCo by 59.0% in 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 in the last quarter. Highline Wealth Partners LLC bought a new stake in shares of PepsiCo in the 3rd quarter worth about $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of PepsiCo during the 3rd quarter worth about $31,000. Rakuten Securities Inc. boosted its position in PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares in the last quarter. Finally, Mattson Financial Services LLC bought a new stake in PepsiCo during the second quarter worth about $34,000. 73.07% of the stock is currently 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.