PepsiCo (NASDAQ:PEP) Stock Price Down 1.5% – What’s Next?

PepsiCo, Inc. (NASDAQ:PEP)’s share price was down 1.5% during trading on Monday . The stock traded as low as $150.45 and last traded at $150.49. Approximately 913,651 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 5,581,431 shares. The stock had previously closed at $152.79.

Analyst Ratings Changes

Several equities analysts have weighed in on PEP shares. JPMorgan Chase & Co. reduced their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Bank of America decreased their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Barclays dropped their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $184.31.

PepsiCo Price Performance

The business has a 50 day simple moving average of $163.04 and a two-hundred day simple moving average of $168.02. The firm has a market capitalization of $209.65 billion, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 2.94 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

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

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be paid a $1.355 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.55%. PepsiCo’s dividend payout ratio is presently 79.94%.

Hedge Funds Weigh In On PepsiCo

Hedge funds and other institutional investors have recently modified their holdings of the company. Empowered Funds LLC boosted its stake in PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after buying an additional 8,406 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of PepsiCo by 11.0% in the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after acquiring an additional 34,633 shares during the last quarter. IHT Wealth Management LLC grew its holdings in shares of PepsiCo by 19.3% during the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after purchasing an additional 5,220 shares during the last quarter. Meridian Wealth Management LLC purchased a new position in PepsiCo in the 3rd quarter worth $9,589,000. Finally, Kestra Investment Management LLC bought a new stake in PepsiCo in the third quarter worth $527,000. 73.07% of the stock is currently 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.