Shares of PepsiCo, Inc. (NASDAQ:PEP - Get Free Report) dropped 1.8% during trading on Wednesday . The stock traded as low as $128.84 and last traded at $128.75. Approximately 2,828,370 shares were traded during trading, a decline of 59% from the average daily volume of 6,819,860 shares. The stock had previously closed at $131.05.
Analyst Upgrades and Downgrades
Several research firms have weighed in on PEP. Evercore ISI set a $140.00 price objective on shares of PepsiCo in a research note on Thursday, April 24th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $148.00 price target on shares of PepsiCo in a research note on Tuesday. Jefferies Financial Group downgraded PepsiCo from a "buy" rating to a "hold" rating and lowered their target price for the company from $171.00 to $170.00 in a research note on Wednesday, March 12th. Dbs Bank downgraded PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. boosted their price target on PepsiCo from $158.00 to $159.00 and gave the company a "neutral" rating in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $159.75.
Check Out Our Latest Stock Report on PEP
PepsiCo Stock Down 2.3%
The company has a debt-to-equity ratio of 2.13, a current ratio of 0.83 and a quick ratio of 0.65. The firm has a market capitalization of $175.51 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 3.71 and a beta of 0.45. The business has a 50 day moving average price of $132.60 and a 200 day moving average price of $143.54.
PepsiCo (NASDAQ:PEP - Get Free Report) last issued 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 the consensus estimate of $17.81 billion. PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The business's quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.61 earnings per share. On average, analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.
PepsiCo Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 4.44%. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date is Friday, June 6th. PepsiCo's payout ratio is currently 83.68%.
Institutional Trading of PepsiCo
Institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of PepsiCo in the 4th quarter valued at $2,729,565,000. Nuveen LLC bought a new stake in PepsiCo in the first quarter valued at about $946,978,000. GAMMA Investing LLC lifted its stake in PepsiCo by 19,106.5% during the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock worth $688,017,000 after purchasing an additional 4,564,723 shares during the period. Raymond James Financial Inc. bought a new stake in shares of PepsiCo in the 4th quarter valued at approximately $589,307,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock worth $3,834,504,000 after buying an additional 3,856,193 shares during the period. Institutional investors and hedge funds 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
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