PepsiCo (NASDAQ:PEP) Stock Price Down 0.1% - Here's What Happened

Shares of PepsiCo, Inc. (NASDAQ:PEP - Get Free Report) dropped 0.1% during mid-day trading on Tuesday . The stock traded as low as $143.40 and last traded at $144.22. Approximately 1,315,451 shares were traded during trading, a decline of 80% from the average daily volume of 6,740,858 shares. The stock had previously closed at $144.35.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PEP shares. Citigroup lowered their price objective on PepsiCo from $195.00 to $170.00 and set a "buy" rating for the company in a research report on Wednesday, February 5th. Evercore ISI dropped their price objective on shares of PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. CICC Research reissued a "market perform" rating on shares of PepsiCo in a research report on Friday, February 7th. HSBC cut their price target on shares of PepsiCo from $186.00 to $170.00 and set a "hold" rating on the stock in a research note on Tuesday, February 4th. Finally, TD Cowen dropped 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 equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $171.47.

PepsiCo Trading Down 1.1 %

The company has a current ratio of 0.82, a quick ratio of 0.70 and a debt-to-equity ratio of 2.05. The firm has a market cap of $197.65 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. The company's fifty day moving average price is $150.73 and its two-hundred day moving average price is $163.68.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.02. The company had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company's revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.78 EPS. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.34 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $1.355 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.76%. PepsiCo's dividend payout ratio is currently 77.99%.

Hedge Funds Weigh In On PepsiCo

Hedge funds and other institutional investors have recently made changes to their positions in the company. AMF Tjanstepension AB raised its holdings in PepsiCo by 15.8% during the third quarter. AMF Tjanstepension AB now owns 293,824 shares of the company's stock worth $50,016,000 after buying an additional 40,031 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in PepsiCo by 49.7% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,976 shares of the company's stock valued at $336,000 after purchasing an additional 656 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in PepsiCo in the 3rd quarter worth about $44,000. CX Institutional lifted its holdings in PepsiCo by 204.1% during the 3rd quarter. CX Institutional now owns 41,184 shares of the company's stock worth $7,003,000 after purchasing an additional 27,643 shares in the last quarter. Finally, Wesbanco Bank Inc. increased its position in shares of PepsiCo by 1.2% in the third quarter. Wesbanco Bank Inc. now owns 152,685 shares of the company's stock worth $25,964,000 after purchasing an additional 1,877 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

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.