PepsiCo (NASDAQ:PEP) Shares Down 0% – Here’s Why

PepsiCo, Inc. (NASDAQ:PEP)’s share price was down 0% during mid-day trading on Tuesday . The company traded as low as $163.15 and last traded at $164.20. Approximately 928,534 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 5,435,313 shares. The stock had previously closed at $164.26.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PEP. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and reduced their target price for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. decreased their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Up 0.2 %

The company has a market capitalization of $226.58 billion, a PE ratio of 24.40, a P/E/G ratio of 3.06 and a beta of 0.53. The business has a 50-day moving average of $171.48 and a 200 day moving average of $171.72. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

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

Institutional Investors Weigh In On PepsiCo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fred Alger Management LLC grew its position in PepsiCo by 1.2% in the 3rd quarter. Fred Alger Management LLC now owns 50,431 shares of the company’s stock valued at $8,576,000 after acquiring an additional 589 shares during the last quarter. William Allan Corp increased its position in PepsiCo by 4.4% during the 3rd quarter. William Allan Corp now owns 13,454 shares of the company’s stock valued at $2,288,000 after purchasing an additional 563 shares during the period. Peterson Wealth Management lifted its position in shares of PepsiCo by 0.4% in the 3rd quarter. Peterson Wealth Management now owns 34,691 shares of the company’s stock worth $5,899,000 after purchasing an additional 153 shares during the period. Vinva Investment Management Ltd boosted its position in PepsiCo by 4.8% during the 3rd quarter. Vinva Investment Management Ltd now owns 76,650 shares of the company’s stock valued at $13,030,000 after acquiring an additional 3,519 shares in the last quarter. Finally, Financial Counselors Inc. raised its position in shares of PepsiCo by 2.6% in the 3rd quarter. Financial Counselors Inc. now owns 364,673 shares of the company’s stock worth $62,013,000 after acquiring an additional 9,300 shares in the last quarter. 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.