PepsiCo (NASDAQ:PEP) Hits New 12-Month Low on Analyst Downgrade

PepsiCo, Inc. (NASDAQ:PEP)’s stock price hit a new 52-week low during trading on Thursday after TD Cowen lowered their price target on the stock from $183.00 to $160.00. TD Cowen currently has a hold rating on the stock. PepsiCo traded as low as $144.56 and last traded at $146.54, with a volume of 6776833 shares traded. The stock had previously closed at $145.40.

A number of other research analysts have also recently issued reports on the stock. Royal Bank of Canada decreased their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Barclays lowered their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company reduced their price objective on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research note on Tuesday. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $180.64.

Institutional Trading of PepsiCo

Several large investors have recently made changes to their positions in the company. Global Wealth Strategies & Associates lifted its holdings in PepsiCo by 59.0% in the third 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 purchased a new position in PepsiCo in the third quarter worth approximately $28,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo in the third quarter valued at $31,000. Mattson Financial Services LLC acquired a new stake in shares of PepsiCo during the 2nd quarter worth about $34,000. Finally, Rakuten Securities Inc. boosted its holdings in shares of PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

The firm has a market cap of $201.05 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 2.94 and a beta of 0.54. The stock has a 50-day moving average price of $158.20 and a 200 day moving average price of $166.82. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same period last year, the business posted $2.25 EPS. The company’s revenue was down .6% on a year-over-year basis. As a group, equities research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.70%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

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.