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

PepsiCo, Inc. (NASDAQ:PEP) was down 0.3% during mid-day trading on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $184.00 to $178.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. PepsiCo traded as low as $146.61 and last traded at $147.60. Approximately 1,088,587 shares were traded during trading, a decline of 84% from the average daily volume of 6,611,371 shares. The stock had previously closed at $148.09.

PEP has been the subject of several other research reports. Royal Bank of Canada lowered their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. UBS Group decreased their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. TD Cowen cut their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, Barclays cut their target price on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $178.20.

Institutional Investors Weigh In On PepsiCo

A number of large investors have recently bought and sold shares of the business. Global Wealth Strategies & Associates boosted its position in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in PepsiCo during the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new position in shares of PepsiCo in the 3rd quarter valued at about $31,000. Rakuten Securities Inc. grew its position in shares of 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 PepsiCo in the second quarter valued at approximately $34,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Up 0.4 %

The business’s 50 day simple moving average is $154.40 and its 200-day simple moving average is $165.52. 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 stock has a market capitalization of $203.91 billion, a P/E ratio of 21.92, a PEG ratio of 2.75 and a beta of 0.54.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors 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 dividend on an annualized basis and a dividend yield of 3.65%. PepsiCo’s dividend 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.