PepsiCo (NASDAQ:PEP) Shares Gap Down After Analyst Downgrade

Shares of PepsiCo, Inc. (NASDAQ:PEP) gapped down before the market opened on Tuesday after Evercore ISI lowered their price target on the stock from $180.00 to $160.00. The stock had previously closed at $150.27, but opened at $146.10. PepsiCo shares last traded at $147.12, with a volume of 2,255,308 shares trading hands.

A number of other equities analysts also recently weighed in on PEP. Barclays dropped their target price on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. TD Cowen dropped their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company lowered their price target on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada began coverage on shares of PepsiCo in a research report on Tuesday. They set a $172.00 target price for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $174.53.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its stake in shares of PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after acquiring an additional 2,775,679 shares during the period. Geode Capital Management LLC boosted its stake in shares of PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after acquiring an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. boosted its stake 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 worth $3,632,413,000 after acquiring an additional 1,125,059 shares during the period. Franklin Resources Inc. boosted its stake in shares of PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of PepsiCo by 2.7% during the 3rd quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock worth $2,057,359,000 after acquiring an additional 313,468 shares during the period. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The company has a 50 day moving average price of $152.86 and a 200 day moving average price of $164.71. The company has a market capitalization of $197.24 billion, a P/E ratio of 21.24, a P/E/G ratio of 2.92 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.95 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. During the same quarter in the previous year, the firm earned $1.78 EPS. On average, equities analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were paid a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.77%. PepsiCo’s 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.