PepsiCo (NASDAQ:PEP) Reaches New 1-Year Low – Here’s What Happened

PepsiCo, Inc. (NASDAQ:PEP)’s share price reached a new 52-week low on Tuesday . The company traded as low as $155.85 and last traded at $155.85, with a volume of 7848 shares changing hands. The stock had previously closed at $156.02.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of analyst reports. Bank of America reduced their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Royal Bank of Canada dropped their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft upgraded PepsiCo from a “hold” rating to a “buy” rating and upped their price target for the stock from $179.00 to $184.00 in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, PepsiCo has a consensus rating of “Hold” and an average target price of $184.31.

PepsiCo Price Performance

The firm’s 50 day moving average price is $164.87 and its two-hundred day moving average price is $168.62. The stock has a market cap of $211.88 billion, a PE ratio of 22.78, a P/E/G ratio of 2.94 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

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 firm had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the company earned $2.25 earnings per share. On average, research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be paid a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.51%. The ex-dividend date is Friday, December 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

Hedge Funds Weigh In On PepsiCo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Global Wealth Strategies & Associates raised its position in shares of PepsiCo by 59.0% during 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 in the last quarter. Highline Wealth Partners LLC bought a new stake in PepsiCo during the third quarter worth about $28,000. POM Investment Strategies LLC raised its holdings in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new stake in PepsiCo in the 2nd quarter worth approximately $30,000. Finally, Legacy Investment Solutions LLC bought a new position in PepsiCo during the third quarter valued at approximately $31,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

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.