PepsiCo (NASDAQ:PEP) Shares Down 0.4% – Here’s What Happened

PepsiCo, Inc. (NASDAQ:PEP)’s share price traded down 0.4% during trading on Thursday . The stock traded as low as $163.47 and last traded at $163.99. 882,973 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 5,447,104 shares. The stock had previously closed at $164.71.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PEP shares. Royal Bank of Canada lowered their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, Bank of America cut their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Performance

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 company has a market cap of $225.05 billion, a PE ratio of 24.19, a PEG ratio of 3.10 and a beta of 0.53. The business’s 50-day moving average is $172.50 and its 200 day moving average is $172.11.

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

Institutional Trading of PepsiCo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PEP. Advisory Alpha LLC grew its stake in PepsiCo by 5.8% in the first quarter. Advisory Alpha LLC now owns 6,914 shares of the company’s stock worth $1,210,000 after purchasing an additional 381 shares during the period. OLD Second National Bank of Aurora lifted its position in PepsiCo by 32.7% during the 1st quarter. OLD Second National Bank of Aurora now owns 23,308 shares of the company’s stock valued at $4,079,000 after acquiring an additional 5,737 shares during the period. Empirical Finance LLC boosted its stake in PepsiCo by 3.4% during the first quarter. Empirical Finance LLC now owns 49,761 shares of the company’s stock worth $8,709,000 after acquiring an additional 1,648 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of PepsiCo by 25.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 137,773 shares of the company’s stock valued at $24,112,000 after purchasing an additional 27,901 shares in the last quarter. Finally, Stokes Family Office LLC lifted its holdings in shares of PepsiCo by 0.3% during the first quarter. Stokes Family Office LLC now owns 32,262 shares of the company’s stock valued at $5,646,000 after purchasing an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

About PepsiCo

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.