PepsiCo (NASDAQ:PEP) Price Target Cut to $155.00 by Analysts at Wells Fargo & Company

PepsiCo (NASDAQ:PEP) had its target price cut by Wells Fargo & Company from $170.00 to $155.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities analysts also recently issued research reports about the stock. Barclays decreased their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research report on Friday, September 20th. Finally, TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $182.29.

PepsiCo Stock Down 0.6 %

Shares of PepsiCo stock opened at $145.40 on Tuesday. The company’s fifty day simple moving average is $158.60 and its two-hundred day simple moving average is $166.97. PepsiCo has a 12-month low of $145.34 and a 12-month high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The company has a market cap of $199.49 billion, a P/E ratio of 21.45, a PEG ratio of 2.94 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.01. The firm had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.25 EPS. Research analysts anticipate that PepsiCo will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

Institutional Investors Weigh In On PepsiCo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PEP. Strategic Financial Concepts LLC grew its holdings in PepsiCo by 8,835.5% during the 2nd quarter. Strategic Financial Concepts LLC now owns 116,608 shares of the company’s stock valued at $192,000 after buying an additional 115,303 shares in the last quarter. Quest Partners LLC grew its holdings in PepsiCo by 44.8% during the 2nd quarter. Quest Partners LLC now owns 6,665 shares of the company’s stock valued at $1,099,000 after buying an additional 2,063 shares in the last quarter. Lane & Associates LLC raised its holdings in shares of PepsiCo by 8.0% during the 2nd quarter. Lane & Associates LLC now owns 2,475 shares of the company’s stock worth $408,000 after acquiring an additional 184 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in shares of PepsiCo by 0.9% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 23,053 shares of the company’s stock valued at $3,802,000 after acquiring an additional 203 shares during the last quarter. Finally, Insight Inv LLC increased its position in PepsiCo by 3.3% in the second quarter. Insight Inv LLC now owns 13,150 shares of the company’s stock worth $2,169,000 after purchasing an additional 425 shares during the last quarter. 73.07% of the stock is 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.