PepsiCo (NASDAQ:PEP) Sets New 52-Week Low Following Analyst Downgrade

PepsiCo, Inc. (NASDAQ:PEP - Get Free Report) shares hit a new 52-week low 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 changing hands. The stock had previously closed at $145.40.

PEP has been the subject of a number of other reports. Morgan Stanley downgraded PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 price target for the company. in a report on Friday, September 20th. Wells Fargo & Company lowered their price target on shares of PepsiCo from $170.00 to $155.00 and set an "equal weight" rating on the stock in a report on Tuesday. JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $185.00 to $183.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. Hsbc Global Res raised shares of PepsiCo to a "hold" rating in a research note on Thursday, October 10th. Finally, Bank of America cut their price target on PepsiCo from $190.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $180.64.

Institutional Investors Weigh In On PepsiCo

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quest Partners LLC lifted its position in PepsiCo by 44.8% during the 2nd quarter. Quest Partners LLC now owns 6,665 shares of the company's stock worth $1,099,000 after acquiring an additional 2,063 shares in the last quarter. Van Hulzen Asset Management LLC boosted its stake in shares of PepsiCo by 12.2% in the second quarter. Van Hulzen Asset Management LLC now owns 5,121 shares of the company's stock valued at $845,000 after purchasing an additional 557 shares during the period. MGO One Seven LLC increased its stake in PepsiCo by 2.5% during the 2nd quarter. MGO One Seven LLC now owns 26,983 shares of the company's stock worth $4,450,000 after buying an additional 668 shares during the period. Angeles Wealth Management LLC lifted its holdings in PepsiCo by 8.5% in the 2nd quarter. Angeles Wealth Management LLC now owns 13,495 shares of the company's stock worth $2,226,000 after buying an additional 1,059 shares in the last quarter. Finally, Vaughan David Investments LLC IL boosted its position in PepsiCo by 0.6% in the 2nd quarter. Vaughan David Investments LLC IL now owns 272,551 shares of the company's stock valued at $44,952,000 after buying an additional 1,689 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Performance

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 stock has a 50-day moving average price of $157.81 and a 200-day moving average price of $166.68. The firm has a market capitalization of $201.05 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business's revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.25 earnings per share. On average, research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were paid 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 3.70%. PepsiCo's dividend payout ratio (DPR) is 79.94%.

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.