PepsiCo (NASDAQ:PEP) Stock Price Down 2.1% – Here’s Why

PepsiCo, Inc. (NASDAQ:PEP)’s share price fell 2.1% on Monday . The company traded as low as $140.67 and last traded at $143.51. 5,374,839 shares changed hands during trading, a decline of 10% from the average session volume of 5,944,592 shares. The stock had previously closed at $146.61.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PEP shares. Morgan Stanley reduced their price objective on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Piper Sandler assumed coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. Royal Bank of Canada started coverage on shares of PepsiCo in a research note on Tuesday, February 4th. They set a $172.00 target price for the company. Wells Fargo & Company dropped their price target on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Finally, BNP Paribas reduced their price objective on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $169.88.

PepsiCo Price Performance

The company has a 50 day moving average of $149.10 and a two-hundred day moving average of $156.72. The firm has a market cap of $196.36 billion, a P/E ratio of 20.60, a PEG ratio of 3.09 and a beta of 0.49. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. During the same quarter last year, the firm posted $1.78 EPS. The business’s revenue for the quarter was down .2% on a year-over-year basis. Sell-side analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were issued a $1.355 dividend. The ex-dividend date was Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.79%. PepsiCo’s dividend payout ratio is currently 77.99%.

Institutional Investors Weigh In On PepsiCo

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Collier Financial acquired a new position in shares of PepsiCo in the 4th quarter valued at $28,000. WealthTrak Capital Management LLC purchased a new stake in shares of PepsiCo in the 4th quarter valued at approximately $28,000. Creative Capital Management Investments LLC acquired a new position in PepsiCo in the 4th quarter worth approximately $30,000. Prudent Man Investment Management Inc. purchased a new position in PepsiCo during the 4th quarter worth approximately $30,000. Finally, Legacy Investment Solutions LLC acquired a new stake in PepsiCo during the 3rd quarter valued at $31,000. 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.