PepsiCo (NASDAQ:PEP) Shares Down 0.5%

Shares of PepsiCo, Inc. (NASDAQ:PEP) were down 0.5% on Friday . The stock traded as low as $170.39 and last traded at $171.54. Approximately 519,869 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 5,521,303 shares. The stock had previously closed at $172.37.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PEP. BNP Paribas initiated coverage on PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 target price on the stock. DZ Bank cut PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a report on Friday, July 19th. TD Cowen dropped their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Bank of America dropped their price target on PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Finally, Morgan Stanley dropped their price objective on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $185.53.

PepsiCo Stock Performance

The company has a 50 day simple moving average of $168.10 and a 200-day simple moving average of $170.28. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. The stock has a market cap of $236.00 billion, a P/E ratio of 24.90, a price-to-earnings-growth ratio of 3.02 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. During the same period last year, the firm posted $2.09 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. On average, equities analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a $1.355 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.16%. PepsiCo’s dividend payout ratio is currently 78.66%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Strategy Asset Managers LLC lifted its holdings in PepsiCo by 0.9% during the first quarter. Strategy Asset Managers LLC now owns 6,632 shares of the company’s stock worth $1,161,000 after buying an additional 57 shares during the period. Meixler Investment Management Ltd. boosted 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 in the last quarter. Opes Wealth Management LLC grew its stake in PepsiCo by 2.2% in the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after purchasing an additional 59 shares during the last quarter. Bank of Stockton raised its holdings in PepsiCo by 2.3% in the second quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after purchasing an additional 60 shares in 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 valued at $1,481,000 after buying an additional 60 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

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.