PepsiCo (NASDAQ:PEP) Stock Price Down 0.9% – Here’s Why

Shares of PepsiCo, Inc. (NASDAQ:PEP) dropped 0.9% on Tuesday . The company traded as low as $152.40 and last traded at $153.27. Approximately 1,129,270 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 6,567,918 shares. The stock had previously closed at $154.61.

Analysts Set New Price Targets

PEP has been the topic of a number of recent analyst reports. UBS Group reduced their target price on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company dropped their price target on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Bank of America dropped their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Piper Sandler initiated coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $177.00.

PepsiCo Stock Performance

The business has a 50 day simple moving average of $153.81 and a 200 day simple moving average of $165.28. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $206.14 billion, a PE ratio of 22.16, a PEG ratio of 2.86 and a beta of 0.54.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Institutional Investors Weigh In On PepsiCo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PEP. Global Wealth Strategies & Associates raised its stake in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in PepsiCo during the third quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo during the third quarter valued at approximately $31,000. Mattson Financial Services LLC acquired a new stake in PepsiCo in the second quarter valued at approximately $34,000. Finally, Rakuten Securities Inc. grew its holdings in PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

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.