PepsiCo (NASDAQ:PEP) Stock Price Down 2.6% - Here's What Happened

PepsiCo, Inc. (NASDAQ:PEP - Get Free Report)'s share price was down 2.6% during mid-day trading on Friday . The stock traded as low as $142.38 and last traded at $142.68. Approximately 2,397,873 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 5,989,229 shares. The stock had previously closed at $146.54.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PEP. TD Cowen cut their target price on shares of PepsiCo from $183.00 to $160.00 and set a "hold" rating on the stock in a research report on Wednesday. Hsbc Global Res upgraded shares of PepsiCo to a "hold" rating in a report on Thursday, October 10th. Wells Fargo & Company decreased their price objective on PepsiCo from $170.00 to $155.00 and set an "equal weight" rating for the company in a report on Tuesday. Morgan Stanley lowered PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 price target on the stock. in a research report on Friday, September 20th. Finally, Deutsche Bank Aktiengesellschaft upgraded PepsiCo from a "hold" rating to a "buy" rating and raised their price objective for the stock from $179.00 to $184.00 in a research report on Thursday, December 12th. One 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 company currently has a consensus rating of "Hold" and an average target price of $180.64.

PepsiCo Stock Down 2.7 %

The stock has a market cap of $195.70 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. The firm's fifty day moving average price is $157.35 and its two-hundred day moving average price is $166.51. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.01. The business 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 company's quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.25 earnings per share. Sell-side analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.80%. The ex-dividend date was Friday, December 6th. PepsiCo's payout ratio is currently 79.94%.

Hedge Funds Weigh In On PepsiCo

Several large investors have recently added to or reduced their stakes in PEP. Global Wealth Strategies & Associates lifted its holdings in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company's stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Cross Staff Investments Inc raised its position in shares of PepsiCo by 0.9% in the third quarter. Cross Staff Investments Inc now owns 7,080 shares of the company's stock valued at $1,204,000 after buying an additional 60 shares during the last quarter. Paulson Wealth Management Inc. boosted its position in PepsiCo by 2.1% during the third quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company's stock worth $508,000 after acquiring an additional 60 shares during the last quarter. LCM Capital Management Inc grew its stake in PepsiCo by 0.8% in the 3rd quarter. LCM Capital Management Inc now owns 7,573 shares of the company's stock worth $1,288,000 after acquiring an additional 62 shares during the period. Finally, Demars Financial Group LLC lifted its stake in shares of PepsiCo by 1.1% during the 3rd quarter. Demars Financial Group LLC now owns 5,721 shares of the company's stock worth $973,000 after purchasing an additional 62 shares during the period. 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.