Shares of PepsiCo, Inc. (NASDAQ:PEP – Get Free Report) were down 0.8% during trading on Monday after Bank of America lowered their price target on the stock from $210.00 to $190.00. Bank of America currently has a buy rating on the stock. PepsiCo traded as low as $162.78 and last traded at $163.14. Approximately 671,546 shares traded hands during trading, a decline of 88% from the average daily volume of 5,435,472 shares. The stock had previously closed at $164.39.
Other analysts also recently issued reports about the stock. Wedbush reiterated an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a report on Tuesday, April 23rd. BNP Paribas started coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. Barclays lowered their target price on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, June 12th. Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, TD Cowen lowered their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, PepsiCo currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.87.
Insiders Place Their Bets
In other news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the completion of the sale, the chief executive officer now owns 53,953 shares of the company’s stock, valued at $9,603,634. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.14% of the company’s stock.
Institutional Investors Weigh In On PepsiCo
A number of institutional investors have recently modified their holdings of the business. Financial Gravity Asset Management Inc. raised its stake in PepsiCo by 662.8% in the third quarter. Financial Gravity Asset Management Inc. now owns 2,258 shares of the company’s stock valued at $383,000 after purchasing an additional 1,962 shares in the last quarter. Diversified Trust Co raised its stake in PepsiCo by 1.0% in the third quarter. Diversified Trust Co now owns 57,472 shares of the company’s stock valued at $9,738,000 after purchasing an additional 580 shares in the last quarter. Savoie Capital LLC acquired a new position in PepsiCo in the third quarter valued at about $788,000. Silver Oak Securities Incorporated raised its stake in PepsiCo by 17.7% during the third quarter. Silver Oak Securities Incorporated now owns 2,583 shares of the company’s stock worth $438,000 after acquiring an additional 389 shares in the last quarter. Finally, Tompkins Financial Corp raised its stake in PepsiCo by 8.2% during the third quarter. Tompkins Financial Corp now owns 55,917 shares of the company’s stock worth $9,475,000 after acquiring an additional 4,254 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.
PepsiCo Stock Performance
The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. The stock has a market cap of $222.88 billion, a price-to-earnings ratio of 24.46, a P/E/G ratio of 2.70 and a beta of 0.52. The company has a 50 day simple moving average of $172.15 and a 200 day simple moving average of $170.15.
PepsiCo (NASDAQ:PEP – Get Free Report) last issued its earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.52 by $0.09. The firm had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.50 earnings per share. As a group, equities research analysts forecast that PepsiCo, Inc. will post 8.16 EPS for the current year.
PepsiCo Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a dividend of $1.355 per share. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date was Friday, June 7th. This represents a $5.42 annualized dividend and a yield of 3.34%. PepsiCo’s payout ratio is presently 81.50%.
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.