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

PepsiCo, Inc. (NASDAQ:PEP)’s stock price hit a new 52-week low during mid-day 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. The stock had previously closed at $145.40.

A number of other equities research analysts have also weighed in on the stock. Bank of America reduced their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Barclays decreased their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upgraded PepsiCo from a “hold” rating to a “buy” rating and upped their target price for the company from $179.00 to $184.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $180.64.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PEP. International Assets Investment Management LLC increased its holdings in PepsiCo by 17,113.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after purchasing an additional 3,201,676 shares in the last quarter. State Street Corp grew its holdings in PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after buying an additional 2,775,679 shares in the last quarter. Franklin Resources Inc. lifted its stake in PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after acquiring an additional 2,264,445 shares in the last quarter. Swedbank AB boosted its holdings in PepsiCo by 211.4% during the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after acquiring an additional 1,592,343 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of PepsiCo by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after acquiring an additional 1,125,059 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Trading Down 2.7 %

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 firm has a market capitalization of $195.70 billion, a PE ratio of 21.04, a PEG ratio of 2.94 and a beta of 0.54. The firm’s fifty day moving average is $157.35 and its two-hundred day moving average is $166.51.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $23.86 billion. During the same period last year, the business posted $2.25 earnings per share. PepsiCo’s revenue was down .6% on a year-over-year basis. On average, equities analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were given a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.80%. PepsiCo’s payout ratio is currently 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.