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

PepsiCo, Inc. (NASDAQ:PEP) shares were 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. Approximately 724,656 shares traded hands during trading, a decline of 87% from the average daily volume of 5,465,679 shares. The stock had previously closed at $163.58.

Several other research analysts also recently commented on the company. Barclays cut their target price on PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, June 12th. BNP Paribas began coverage on PepsiCo in a report on Monday, June 24th. They set a “neutral” rating and a $174.00 target price on the stock. Wedbush reissued an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a research report on Tuesday, April 23rd. Argus lowered PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on PepsiCo from $181.00 to $184.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 26th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, PepsiCo currently has a consensus rating of “Moderate Buy” and an average target price of $186.64.

Insider Activity at PepsiCo

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $178.00, for a total value of $1,000,360.00. Following the completion of the sale, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PepsiCo

A number of hedge funds have recently added to or reduced their stakes in the stock. LFA Lugano Financial Advisors SA boosted its stake in shares of PepsiCo by 80.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock worth $27,000 after buying an additional 70 shares during the last quarter. Valued Wealth Advisors LLC boosted its stake in shares of PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after buying an additional 69 shares during the last quarter. Fortis Group Advisors LLC boosted its stake in shares of PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after buying an additional 97 shares during the last quarter. Life Planning Partners Inc purchased a new position in shares of PepsiCo in the 4th quarter worth approximately $34,000. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of PepsiCo in the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

The business has a 50 day moving average price of $172.95 and a two-hundred day moving average price of $170.24. The stock has a market cap of $223.54 billion, a PE ratio of 24.45, a P/E/G ratio of 2.71 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86.

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

PepsiCo Increases Dividend

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

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.