PepsiCo (NASDAQ:PEP) Stock Price Down 0% – Here’s What Happened

PepsiCo, Inc. (NASDAQ:PEP) shares traded down 0% during trading on Tuesday . The company traded as low as $163.15 and last traded at $164.20. 928,534 shares changed hands during trading, a decline of 83% from the average session volume of 5,435,313 shares. The stock had previously closed at $164.26.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Bank of America decreased their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. lowered their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Performance

The company’s 50 day simple moving average is $172.02 and its 200 day simple moving average is $171.85. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The stock has a market cap of $225.47 billion, a price-to-earnings ratio of 24.22, a PEG ratio of 3.08 and a beta of 0.53.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of PepsiCo by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after purchasing an additional 1,125,059 shares during the period. Legal & General Group Plc increased its position in shares of PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after purchasing an additional 905,468 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of PepsiCo by 2.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,383,621 shares of the company’s stock valued at $1,765,735,000 after buying an additional 236,091 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in PepsiCo by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after purchasing an additional 561,465 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of PepsiCo by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after acquiring an additional 57,322 shares during the last quarter. 73.07% of the stock is currently owned by 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.