PepsiCo (NASDAQ:PEP) Shares Down 0.4% – Here’s What Happened

by · The Cerbat Gem

PepsiCo, Inc. (NASDAQ:PEP – Get Free Report)’s share price traded down 0.4% during trading on Thursday . The stock traded as low as $163.47 and last traded at $163.99. 882,973 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 5,447,104 shares. The stock had previously closed at $164.71.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PEP shares. Royal Bank of Canada lowered their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, Bank of America cut their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus target price of $183.92.

Check Out Our Latest Report on PEP

PepsiCo Stock Performance

The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The company has a market cap of $225.05 billion, a PE ratio of 24.19, a PEG ratio of 3.10 and a beta of 0.53. The business’s 50-day moving average is $172.50 and its 200 day moving average is $172.11.

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

Institutional Trading of PepsiCo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PEP. Advisory Alpha LLC grew its stake in PepsiCo by 5.8% in the first quarter. Advisory Alpha LLC now owns 6,914 shares of the company’s stock worth $1,210,000 after purchasing an additional 381 shares during the period. OLD Second National Bank of Aurora lifted its position in PepsiCo by 32.7% during the 1st quarter. OLD Second National Bank of Aurora now owns 23,308 shares of the company’s stock valued at $4,079,000 after acquiring an additional 5,737 shares during the period. Empirical Finance LLC boosted its stake in PepsiCo by 3.4% during the first quarter. Empirical Finance LLC now owns 49,761 shares of the company’s stock worth $8,709,000 after acquiring an additional 1,648 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of PepsiCo by 25.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 137,773 shares of the company’s stock valued at $24,112,000 after purchasing an additional 27,901 shares in the last quarter. Finally, Stokes Family Office LLC lifted its holdings in shares of PepsiCo by 0.3% during the first quarter. Stokes Family Office LLC now owns 32,262 shares of the company’s stock valued at $5,646,000 after purchasing an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

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.

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