PepsiCo (NASDAQ:PEP) Trading Down 0.3% After Analyst Downgrade

PepsiCo, Inc. (NASDAQ:PEPGet Free Report)’s stock price fell 0.3% during mid-day trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $183.00 to $165.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. PepsiCo traded as low as $146.61 and last traded at $147.60. 1,088,587 shares traded hands during trading, a decline of 84% from the average session volume of 6,611,371 shares. The stock had previously closed at $148.09.

Other analysts have also issued research reports about the stock. Bank of America reduced their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Wells Fargo & Company reduced their price target on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, Royal Bank of Canada dropped their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $177.00.

View Our Latest Stock Report on PepsiCo

Institutional Trading of PepsiCo

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Global Wealth Strategies & Associates lifted its position in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in shares of PepsiCo in the 3rd quarter valued at $28,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo in the 3rd quarter worth about $31,000. Rakuten Securities Inc. raised its holdings in PepsiCo by 93.2% during the 3rd 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. Finally, Mattson Financial Services LLC acquired a new position in shares of PepsiCo in the second quarter worth about $34,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The firm has a market cap of $204.59 billion, a price-to-earnings ratio of 21.99, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54. The stock’s fifty day moving average price is $154.07 and its 200-day moving average price is $165.40.

PepsiCo Dividend Announcement

The firm 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 3.63%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

About PepsiCo

(Get Free Report)

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.

Further Reading

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