PepsiCo (NASDAQ:PEP) Shares Down 0.3% Following Analyst Downgrade

Shares of PepsiCo, Inc. (NASDAQ:PEP) fell 0.3% during trading on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $184.00 to $178.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. PepsiCo traded as low as $146.61 and last traded at $147.60. 1,088,587 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 6,611,371 shares. The stock had previously closed at $148.09.

Several other brokerages have also recently issued reports on PEP. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Royal Bank of Canada cut their target price 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. Barclays cut their price target on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Wells Fargo & Company lowered their price target on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $178.20.

Institutional Trading of PepsiCo

Institutional investors have recently made changes to their positions in the business. Empowered Funds LLC lifted its holdings in PepsiCo by 9.2% during the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after purchasing an additional 8,406 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in PepsiCo by 104.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after buying an additional 870,451 shares in the last quarter. Janus Henderson Group PLC raised its position in PepsiCo by 11.0% in the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after purchasing an additional 34,633 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV lifted its stake in shares of PepsiCo by 12.8% during the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock valued at $6,323,000 after acquiring an additional 4,712 shares during the period. Finally, IHT Wealth Management LLC lifted its position in PepsiCo by 19.3% during the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after purchasing an additional 5,220 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Performance

The firm’s 50-day moving average price is $154.40 and its 200 day moving average price is $165.52. The company has a market cap of $202.61 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 2.75 and a beta of 0.54. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were paid a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.67%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

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.