PepsiCo (NASDAQ:PEP) Hits New 1-Year Low Following Analyst Downgrade

PepsiCo, Inc. (NASDAQ:PEP) hit a new 52-week low on Thursday after TD Cowen lowered their price target on the stock from $183.00 to $160.00. TD Cowen currently has a hold rating on the stock. PepsiCo traded as low as $144.56 and last traded at $146.54, with a volume of 6776833 shares changing hands. The stock had previously closed at $145.40.

Several other research firms also recently weighed in on PEP. Deutsche Bank Aktiengesellschaft upgraded PepsiCo from a “hold” rating to a “buy” rating and increased their price target for the stock from $179.00 to $184.00 in a research note on Thursday, December 12th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Piper Sandler assumed coverage on shares of PepsiCo in a research note on Tuesday. They set an “overweight” rating and a $171.00 price target on the stock. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, Barclays dropped their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $180.64.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Global Wealth Strategies & Associates lifted its holdings in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in PepsiCo in the third quarter worth $28,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo during the third quarter valued at about $31,000. Mattson Financial Services LLC bought a new position in shares of PepsiCo during the second quarter valued at about $34,000. Finally, Rakuten Securities Inc. increased its holdings in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after buying an additional 96 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

The firm has a fifty day moving average of $157.35 and a two-hundred day moving average of $166.51. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $195.70 billion, a PE ratio of 21.04, a PEG ratio of 2.94 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The firm had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.25 earnings per share. Research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.80%. PepsiCo’s dividend payout ratio is 79.94%.

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.