PepsiCo (NASDAQ:PEP) Stock Price Down 0.8% Following Analyst Downgrade

Posted by Defense World Staff on Jul 9th, 2024

PepsiCo, Inc. (NASDAQ:PEP – Get Free Report)’s stock price dropped 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 were traded during mid-day trading, a decline of 88% from the average daily volume of 5,435,472 shares. The stock had previously closed at $164.39.

PEP has been the subject of a number of other research reports. Jefferies Financial Group boosted their target price on shares of PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a report on Monday, March 18th. BNP Paribas began coverage on shares of PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target for the company. Argus downgraded PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Finally, Barclays reduced 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. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $186.87.

View Our Latest Stock Report on PepsiCo

Insider Buying and Selling at PepsiCo

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the sale, the chief executive officer now owns 53,953 shares in the company, valued at $9,603,634. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.14% of the company’s stock.

Institutional Trading of PepsiCo

Hedge funds and other institutional investors have recently made changes to their positions in the business. LFA Lugano Financial Advisors SA raised its stake in PepsiCo by 80.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock worth $27,000 after acquiring an additional 70 shares in the last quarter. Valued Wealth Advisors LLC increased its holdings in shares of PepsiCo by 77.5% during the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after acquiring an additional 69 shares in the last quarter. Fortis Group Advisors LLC increased its position in shares of 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 acquiring an additional 97 shares in the last quarter. Life Planning Partners Inc bought a new position in shares of PepsiCo in the fourth quarter valued at approximately $34,000. Finally, Kathleen S. Wright Associates Inc. purchased a new position in PepsiCo during the 1st quarter worth $35,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Price Performance

The stock has a market cap of $222.88 billion, a P/E ratio of 24.38, a P/E/G ratio of 2.70 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. The business has a 50 day simple moving average of $171.87 and a 200-day simple moving average of $170.11.

PepsiCo (NASDAQ:PEP – Get Free Report) last posted 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. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The business had revenue of $18.25 billion during the quarter, compared to analysts’ expectations of $18.08 billion. During the same period in the previous year, the business earned $1.50 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts forecast that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

The business 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. The ex-dividend date was Friday, June 7th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 dividend on an annualized basis and a yield of 3.34%. PepsiCo’s payout ratio is currently 81.50%.

About PepsiCo

(Get Free Report)

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.

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