PepsiCo (NASDAQ:PEP) Shares Down 0.2% Following Analyst Downgrade

PepsiCo, Inc. (NASDAQ:PEP) traded down 0.2% during trading on Wednesday after TD Cowen lowered their price target on the stock from $200.00 to $190.00. TD Cowen currently has a buy rating on the stock. PepsiCo traded as low as $162.61 and last traded at $163.31. 724,656 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 5,465,679 shares. The stock had previously closed at $163.58.

A number of other brokerages have also recently commented on PEP. JPMorgan Chase & Co. increased their target price on shares of PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a research report on Wednesday, June 26th. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research report on Monday, March 18th. Jefferies Financial Group raised their price objective on shares of PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Barclays reduced their target price on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. Finally, BNP Paribas began coverage on shares of PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 target price on the stock. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, PepsiCo has a consensus rating of “Moderate Buy” and a consensus price target of $186.64.

Insider Activity

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the sale, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Capital Advisors Ltd. LLC grew its holdings in PepsiCo by 3.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock worth $693,000 after acquiring an additional 139 shares in the last quarter. Cerity Partners LLC grew its holdings in PepsiCo by 59.4% during the 4th quarter. Cerity Partners LLC now owns 993,567 shares of the company’s stock worth $168,747,000 after acquiring an additional 370,122 shares in the last quarter. Harbour Capital Advisors LLC grew its holdings in PepsiCo by 0.4% during the 4th quarter. Harbour Capital Advisors LLC now owns 27,446 shares of the company’s stock worth $4,747,000 after acquiring an additional 102 shares in the last quarter. Meadow Creek Wealth Advisors LLC acquired a new position in PepsiCo during the 4th quarter worth approximately $405,000. Finally, Householder Group Estate & Retirement Specialist LLC grew its holdings in PepsiCo by 34.5% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 12,317 shares of the company’s stock worth $2,091,000 after acquiring an additional 3,159 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Performance

The firm’s fifty day moving average price is $172.95 and its 200-day moving average price is $170.24. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. The firm has a market cap of $223.54 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 2.71 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business had revenue of $18.25 billion during the quarter, compared to analysts’ expectations of $18.08 billion. During the same quarter in the prior year, the business posted $1.50 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts expect that PepsiCo, Inc. will post 8.16 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were issued a $1.355 dividend. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Friday, June 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.33%. PepsiCo’s dividend payout ratio is presently 81.50%.

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.