PepsiCo (NASDAQ:PEP) Price Target Cut to $160.00 by Analysts at TD Cowen

PepsiCo (NASDAQ:PEP) had its price target cut by TD Cowen from $183.00 to $160.00 in a report published on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

A number of other equities analysts have also recently weighed in on PEP. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Royal Bank of Canada cut their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Barclays decreased their price objective 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. Wells Fargo & Company lowered their target price on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research note on Friday, September 20th. One investment 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 data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $180.64.

PepsiCo Stock Performance

PEP opened at $146.54 on Wednesday. PepsiCo has a 1-year low of $144.56 and a 1-year high of $183.41. The company has a market capitalization of $201.05 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. The business has a 50 day moving average price of $158.20 and a two-hundred day moving average price of $166.82. 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 announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter last year, the business posted $2.25 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Research analysts predict that PepsiCo will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is currently 79.94%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PEP. Quest Partners LLC lifted its position in shares of PepsiCo by 44.8% in the 2nd quarter. Quest Partners LLC now owns 6,665 shares of the company’s stock worth $1,099,000 after acquiring an additional 2,063 shares during the period. Van Hulzen Asset Management LLC boosted its stake in PepsiCo by 12.2% during the second quarter. Van Hulzen Asset Management LLC now owns 5,121 shares of the company’s stock worth $845,000 after buying an additional 557 shares in the last quarter. MGO One Seven LLC increased its holdings in PepsiCo by 2.5% in the 2nd quarter. MGO One Seven LLC now owns 26,983 shares of the company’s stock valued at $4,450,000 after buying an additional 668 shares during the period. Angeles Wealth Management LLC raised its stake in shares of PepsiCo by 8.5% in the 2nd quarter. Angeles Wealth Management LLC now owns 13,495 shares of the company’s stock valued at $2,226,000 after buying an additional 1,059 shares in the last quarter. Finally, Vaughan David Investments LLC IL boosted its position in shares of PepsiCo by 0.6% during the 2nd quarter. Vaughan David Investments LLC IL now owns 272,551 shares of the company’s stock valued at $44,952,000 after acquiring an additional 1,689 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

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.