PepsiCo (NASDAQ:PEP) Shares Down 0.4% - Here's What Happened

Shares of PepsiCo, Inc. (NASDAQ:PEP - Get Free Report) dropped 0.4% during trading on Wednesday . The company traded as low as $130.58 and last traded at $131.23. Approximately 1,663,762 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 6,391,300 shares. The stock had previously closed at $131.80.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Royal Bank of Canada restated a "sector perform" rating and set a $163.00 price objective on shares of PepsiCo in a research report on Tuesday, April 22nd. Morgan Stanley dropped their price target on PepsiCo from $168.00 to $153.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. Citigroup reduced their price objective on PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Jefferies Financial Group cut PepsiCo from a "buy" rating to a "hold" rating and dropped their target price for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. Finally, Wells Fargo & Company lowered their price objective 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. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $160.69.

PepsiCo Stock Performance

The firm has a market capitalization of $179.33 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 3.09 and a beta of 0.47. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The business's fifty day simple moving average is $140.72 and its 200-day simple moving average is $149.07.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.01). The company had revenue of $17.92 billion for the quarter, compared to analysts' expectations of $17.81 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. During the same period in the previous year, the business posted $1.61 earnings per share. The business's revenue was down 1.8% on a year-over-year basis. As a group, equities research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 4.35%. The ex-dividend date is Friday, June 6th. This is a boost from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio (DPR) is currently 83.68%.

Institutional Trading of PepsiCo

Several hedge funds have recently modified their holdings of the company. Tcfg Wealth Management LLC raised its position in shares of PepsiCo by 3.5% during the 4th quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company's stock valued at $295,000 after buying an additional 66 shares in the last quarter. Marshall Financial Group LLC boosted its stake in PepsiCo by 2.3% during the fourth quarter. Marshall Financial Group LLC now owns 3,128 shares of the company's stock worth $476,000 after buying an additional 70 shares during the period. Osprey Private Wealth LLC increased its position in PepsiCo by 0.5% during the fourth quarter. Osprey Private Wealth LLC now owns 15,060 shares of the company's stock valued at $2,290,000 after acquiring an additional 70 shares during the last quarter. TAGStone Capital Inc. raised its stake in shares of PepsiCo by 2.8% in the fourth quarter. TAGStone Capital Inc. now owns 2,527 shares of the company's stock valued at $388,000 after acquiring an additional 70 shares during the period. Finally, Lokken Investment Group LLC lifted its holdings in shares of PepsiCo by 0.9% in the 4th quarter. Lokken Investment Group LLC now owns 7,699 shares of the company's stock worth $1,171,000 after acquiring an additional 70 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other 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.

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