PepsiCo (NASDAQ:PEP) Stock Price Down 2.9% – Here’s Why

PepsiCo, Inc. (NASDAQ:PEP)’s stock price traded down 2.9% during mid-day trading on Wednesday . The company traded as low as $151.66 and last traded at $151.87. 2,394,674 shares traded hands during trading, a decline of 66% from the average session volume of 6,942,130 shares. The stock had previously closed at $156.42.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. BNP Paribas lowered their target price on PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Evercore ISI reduced their price target on PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. CICC Research reissued a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. Finally, Barclays decreased their target price on PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $171.47.

PepsiCo Stock Performance

The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The firm has a market cap of $207.82 billion, a PE ratio of 21.79, a PEG ratio of 3.09 and a beta of 0.54. The firm’s 50 day moving average price is $148.62 and its two-hundred day moving average price is $161.87.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.94 by $0.02. The company had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm’s revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.78 earnings per share. On average, research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.58%. PepsiCo’s dividend payout ratio is presently 77.99%.

Institutional Investors Weigh In On PepsiCo

Institutional investors and hedge funds have recently made changes to their positions in the company. Highline Wealth Partners LLC bought a new position in PepsiCo in the 3rd quarter worth approximately $28,000. Collier Financial acquired a new stake in PepsiCo in the fourth quarter valued at approximately $28,000. WealthTrak Capital Management LLC bought a new position in PepsiCo during the fourth quarter valued at about $28,000. Creative Capital Management Investments LLC acquired a new position in PepsiCo in the 4th quarter valued at $30,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in PepsiCo in the 4th quarter valued at approximately $30,000. 73.07% of the stock is owned by institutional investors and hedge funds.

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.