PepsiCo (NASDAQ:PEP) Trading Down 0.4% – Here’s Why

PepsiCo, Inc. (NASDAQ:PEP)’s share price fell 0.4% on Thursday . The stock traded as low as $163.47 and last traded at $163.99. 882,973 shares changed hands during trading, a decline of 84% from the average session volume of 5,447,104 shares. The stock had previously closed at $164.71.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research note on Friday, September 20th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Performance

The stock’s 50 day moving average is $172.19 and its 200 day moving average is $171.97. The firm has a market cap of $226.53 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. 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 announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same quarter in the prior year, the business posted $2.25 EPS. The business’s revenue was down .6% compared to the same quarter last year. Analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Hedge Funds Weigh In On PepsiCo

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its stake in shares of PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after acquiring an additional 905,468 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of PepsiCo by 7.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after acquiring an additional 700,092 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of PepsiCo by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after acquiring an additional 561,465 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of PepsiCo by 1.1% during the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after acquiring an additional 57,322 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of PepsiCo by 14.6% during the second quarter. Bank of Montreal Can now owns 3,876,354 shares of the company’s stock valued at $676,036,000 after acquiring an additional 492,888 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

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.