PepsiCo (NASDAQ:PEP) Stock Price Down 1.3% Following Analyst Downgrade

PepsiCo, Inc. (NASDAQ:PEP - Get Free Report) dropped 1.3% during trading on Friday after Bank of America lowered their price target on the stock from $150.00 to $145.00. Bank of America currently has a neutral rating on the stock. PepsiCo traded as low as $134.31 and last traded at $134.35. Approximately 1,565,373 shares changed hands during trading, a decline of 78% from the average daily volume of 7,065,432 shares. The stock had previously closed at $136.08.

A number of other brokerages have also weighed in on PEP. JPMorgan Chase & Co. lowered their target price on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research note on Thursday. UBS Group decreased their price objective on PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Dbs Bank cut shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Citigroup dropped their price objective on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $148.00 target price on shares of PepsiCo in a report on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, PepsiCo presently has a consensus rating of "Hold" and an average target price of $158.19.

Institutional Trading of PepsiCo

Several institutional investors have recently modified their holdings of PEP. Nova Wealth Management Inc. bought a new position in shares of PepsiCo during the first quarter worth about $25,000. WealthTrak Capital Management LLC acquired a new stake in PepsiCo during the 4th quarter valued at approximately $28,000. Elite Financial Inc. bought a new stake in shares of PepsiCo in the 1st quarter valued at $28,000. Prudent Man Investment Management Inc. bought a new stake in shares of PepsiCo in the 4th quarter valued at $30,000. Finally, Measured Risk Portfolios Inc. acquired a new position in PepsiCo in the fourth quarter valued at $31,000. Institutional investors own 73.07% of the company's stock.

PepsiCo Stock Performance

The company has a 50-day moving average price of $131.46 and a two-hundred day moving average price of $141.78. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13. The stock has a market capitalization of $184.20 billion, a P/E ratio of 19.76, a price-to-earnings-growth ratio of 4.21 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The business had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the previous year, the company posted $1.61 earnings per share. PepsiCo's quarterly revenue was down 1.8% on a year-over-year basis. On average, equities analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were paid a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date was Friday, June 6th. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's payout ratio is 83.68%.

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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