PepsiCo (NASDAQ:PEP) Trading 0% Higher – Here’s What Happened

PepsiCo, Inc. (NASDAQ:PEP) shares shot up 0% during trading on Thursday . The stock traded as high as $167.18 and last traded at $166.29. 738,739 shares traded hands during trading, a decline of 86% from the average session volume of 5,441,210 shares. The stock had previously closed at $166.21.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PEP shares. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research note on Friday, July 19th. Royal Bank of Canada cut their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Jefferies Financial Group cut their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Bank of America cut their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Trading Down 0.3 %

The firm has a market cap of $227.19 billion, a P/E ratio of 24.42, a PEG ratio of 3.10 and a beta of 0.53. The company’s 50 day moving average is $173.03 and its two-hundred day moving average is $172.19. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 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 the consensus estimate of $23.86 billion. During the same quarter in the prior year, the firm earned $2.25 earnings per share. The business’s quarterly revenue was down .6% on a year-over-year basis. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Global Wealth Strategies & Associates raised its stake in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC bought a new position in PepsiCo in the third quarter valued at approximately $28,000. POM Investment Strategies LLC lifted its stake in PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo during the second quarter worth about $30,000. Finally, Mattson Financial Services LLC acquired a new position in PepsiCo during the 2nd quarter worth approximately $34,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Company Profile

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.