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

Shares of PepsiCo, Inc. (NASDAQ:PEP) dropped 0.4% during trading on Tuesday . The stock traded as low as $143.57 and last traded at $143.87. Approximately 1,201,011 shares were traded during trading, a decline of 82% from the average daily volume of 6,553,951 shares. The stock had previously closed at $144.50.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PEP shares. UBS Group lowered their price objective on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday. Piper Sandler assumed coverage on shares of PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upgraded PepsiCo from a “hold” rating to a “buy” rating and raised their target price for the company from $179.00 to $184.00 in a research note on Thursday, December 12th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, TD Cowen decreased their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $180.27.

PepsiCo Price Performance

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 business’s 50-day moving average is $156.06 and its two-hundred day moving average is $166.05. The company has a market capitalization of $201.11 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid 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 3.70%. PepsiCo’s payout ratio is presently 79.94%.

Institutional Trading of PepsiCo

A number of hedge funds have recently bought and sold shares of PEP. State Street Corp boosted its holdings in shares of PepsiCo by 5.1% in the 3rd 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 during the last quarter. Geode Capital Management LLC boosted its stake in PepsiCo by 1.8% in the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after acquiring an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of PepsiCo by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after acquiring an additional 1,125,059 shares during the period. Legal & General Group Plc increased its stake in shares of PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after purchasing an additional 905,468 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after purchasing an additional 2,264,445 shares during the last quarter. 73.07% of the stock is currently owned by 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.