PepsiCo (NASDAQ:PEP) Stock Price Down 0.1% – Here’s Why

PepsiCo, Inc. (NASDAQ:PEP)’s stock price fell 0.1% during mid-day trading on Thursday . The stock traded as low as $172.18 and last traded at $172.71. 627,450 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 5,457,187 shares. The stock had previously closed at $172.95.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Jefferies Financial Group dropped their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Wells Fargo & Company reduced their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Royal Bank of Canada decreased their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research report on Friday, September 20th. Finally, Bank of America decreased their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Performance

The stock’s 50 day moving average is $173.88 and its 200 day moving average is $172.23. 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 firm has a market cap of $236.11 billion, a price-to-earnings ratio of 25.47, a price-to-earnings-growth ratio of 3.26 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion for 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 firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $2.25 earnings per share. Analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Institutional Investors Weigh In On PepsiCo

Hedge funds and other institutional investors have recently made changes to their positions in the business. Valued Wealth Advisors LLC lifted its holdings in shares of PepsiCo by 77.5% in the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after acquiring an additional 69 shares during the last quarter. Global Wealth Strategies & Associates increased its position in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares in the last quarter. POM Investment Strategies LLC raised its stake in shares of PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC purchased a new stake in PepsiCo in the 2nd quarter valued at $30,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of PepsiCo in the first quarter valued at about $35,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

About PepsiCo

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.