PepsiCo (NASDAQ:PEP) Trading Down 2.7% – Here’s What Happened

PepsiCo, Inc. (NASDAQ:PEP)’s share price dropped 2.7% during trading on Friday . The stock traded as low as $160.08 and last traded at $160.70. Approximately 1,996,317 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 5,434,038 shares. The stock had previously closed at $165.15.

Analyst Upgrades and Downgrades

PEP has been the topic of several recent research reports. Barclays dropped their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft dropped their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. dropped their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Down 3.5 %

The company’s fifty day moving average price is $171.19 and its 200-day moving average price is $171.68. The stock has a market capitalization of $218.57 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same period last year, the business earned $2.25 earnings per share. The business’s revenue was down .6% on a year-over-year basis. Analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Institutional Investors Weigh In On PepsiCo

Several institutional investors and hedge funds have recently made changes to their positions in the company. Trillium Asset Management LLC grew its position in PepsiCo by 5.5% in the 1st quarter. Trillium Asset Management LLC now owns 3,370 shares of the company’s stock worth $590,000 after purchasing an additional 177 shares during the period. M&G Plc bought a new stake in shares of PepsiCo during the 1st quarter valued at $72,020,000. Mizuho Markets Americas LLC grew its position in shares of PepsiCo by 114.1% during the 1st quarter. Mizuho Markets Americas LLC now owns 60,479 shares of the company’s stock valued at $10,584,000 after acquiring an additional 32,236 shares during the period. Councilmark Asset Management LLC bought a new stake in shares of PepsiCo during the 1st quarter valued at $754,000. Finally, Nicolet Advisory Services LLC grew its position in shares of PepsiCo by 1.1% during the 1st quarter. Nicolet Advisory Services LLC now owns 40,851 shares of the company’s stock valued at $6,970,000 after acquiring an additional 428 shares during the period. Institutional investors own 73.07% of the company’s stock.

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.