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PepsiCo (NASDAQ:PEP) Trading Down 1.5% - Here's Why

PepsiCo logo with Consumer Staples background

PepsiCo, Inc. (NASDAQ:PEP - Get Free Report)'s share price was down 1.5% during trading on Wednesday . The company traded as low as $133.55 and last traded at $133.02. Approximately 1,980,395 shares traded hands during trading, a decline of 72% from the average daily volume of 7,053,725 shares. The stock had previously closed at $135.04.

Analysts Set New Price Targets

A number of brokerages have issued reports on PEP. Dbs Bank downgraded PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Jefferies Financial Group cut shares of PepsiCo from a "buy" rating to a "hold" rating and cut their price objective for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. Citigroup decreased their target price on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Morgan Stanley cut their price target on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. increased their price objective on PepsiCo from $158.00 to $159.00 and gave the stock a "neutral" rating in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $159.75.

Get Our Latest Stock Report on PEP

PepsiCo Stock Down 0.4%

The business's fifty day moving average is $131.43 and its two-hundred day moving average is $141.93. The stock has a market cap of $184.38 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 4.21 and a beta of 0.45. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13.

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

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were given a dividend of $1.4225 per share. The ex-dividend date was Friday, June 6th. This is an increase from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.23%. PepsiCo's payout ratio is currently 83.68%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PEP. Asset Management One Co. Ltd. raised its stake in PepsiCo by 3.6% in the first quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock valued at $94,598,000 after buying an additional 21,859 shares in the last quarter. Ossiam raised its position in shares of PepsiCo by 138.9% during the 4th quarter. Ossiam now owns 73,604 shares of the company's stock worth $11,192,000 after acquiring an additional 42,793 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its stake in PepsiCo by 12.1% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock worth $18,977,000 after purchasing an additional 13,461 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in PepsiCo by 2.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 270,938 shares of the company's stock valued at $40,624,000 after purchasing an additional 6,112 shares during the last quarter. Finally, Hutner Capital Management Inc. raised its holdings in PepsiCo by 14.6% during the fourth quarter. Hutner Capital Management Inc. now owns 53,783 shares of the company's stock worth $8,178,000 after purchasing an additional 6,865 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

About PepsiCo

(Get Free Report)

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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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