PepsiCo (NASDAQ:PEP) Stock Price Down 0.4% – Here’s Why

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

Analyst Ratings Changes

A number of brokerages recently issued reports on PEP. Royal Bank of Canada dropped their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research note on Friday, July 19th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their price target on 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, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Trading Down 0.4 %

The firm has a market capitalization of $225.05 billion, a P/E ratio of 24.19, a PEG ratio of 3.10 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock has a fifty day simple moving average of $172.50 and a 200 day simple moving average of $172.11.

PepsiCo (NASDAQ:PEP) last posted 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. The company had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.25 EPS. As a group, research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

Institutional Trading of PepsiCo

A number of large investors have recently added to or reduced their stakes in PEP. Meixler Investment Management Ltd. lifted its position in PepsiCo by 4.4% during the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after purchasing an additional 58 shares during the last quarter. Opes Wealth Management LLC grew its position in PepsiCo by 2.2% in the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after acquiring an additional 59 shares in the last quarter. Global Wealth Strategies & Associates increased its stake in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the last quarter. Bank of Stockton lifted its stake in shares of PepsiCo by 2.3% in the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after purchasing an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC boosted its holdings in shares of PepsiCo by 0.7% in the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after purchasing an additional 60 shares during the period. Institutional investors own 73.07% of the company’s stock.

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.