Shares of PepsiCo, Inc. (NASDAQ:PEP – Get Free Report) dropped 0.4% on Thursday . The company traded as low as $172.18 and last traded at $173.28. Approximately 1,032,886 shares changed hands during trading, a decline of 81% from the average daily volume of 5,411,475 shares. The stock had previously closed at $173.92.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the stock. Barclays upped their price objective on shares of PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Wells Fargo & Company cut their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Royal Bank of Canada lowered their target price on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Jefferies Financial Group decreased their price objective on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $185.53.
PepsiCo Price Performance
The company’s 50-day moving average is $169.70 and its 200-day moving average is $170.77. The firm has a market cap of $237.40 billion, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of 2.98 and a beta of 0.52. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87.
PepsiCo (NASDAQ:PEP – Get Free Report) last issued its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.12. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company posted $2.09 EPS. Equities research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.
PepsiCo Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio is 78.66%.
Institutional Investors Weigh In On PepsiCo
Several hedge funds have recently modified their holdings of the company. Valued Wealth Advisors LLC increased its stake in PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 69 shares in the last quarter. POM Investment Strategies LLC lifted its holdings in shares of PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of PepsiCo during the second quarter valued at approximately $30,000. Fortis Group Advisors LLC boosted its holdings in PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 97 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of PepsiCo in the 1st quarter worth approximately $35,000. Institutional investors and hedge funds 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.