PepsiCo (NASDAQ:PEP) Trading Down 1.1% – What’s Next?

PepsiCo, Inc. (NASDAQ:PEP)’s stock price dropped 1.1% during trading on Wednesday . The company traded as low as $143.35 and last traded at $144.07. Approximately 1,321,818 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 6,729,567 shares. The stock had previously closed at $145.64.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Evercore ISI decreased their target price on PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Morgan Stanley dropped their price target on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Citigroup decreased their price target on PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. Finally, Piper Sandler started coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price for the company. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $171.47.

PepsiCo Trading Down 1.6 %

The firm has a fifty day simple moving average of $150.73 and a two-hundred day simple moving average of $163.68. The firm has a market capitalization of $196.60 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company’s revenue was down .2% on a year-over-year basis. During the same quarter last year, the company earned $1.78 earnings per share. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.34 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s payout ratio is presently 77.99%.

Hedge Funds Weigh In On PepsiCo

A number of large investors have recently modified their holdings of PEP. Norges Bank bought a new position in PepsiCo in the 4th quarter valued at $2,729,565,000. Raymond James Financial Inc. bought a new stake in PepsiCo during the fourth quarter valued at $589,307,000. Charles Schwab Investment Management Inc. grew its position in PepsiCo by 18.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock worth $3,834,504,000 after buying an additional 3,856,193 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of PepsiCo by 17,113.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after acquiring an additional 3,201,676 shares in the last quarter. Finally, State Street Corp boosted its position in shares of PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after acquiring an additional 2,775,679 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

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.