Wells Fargo & Company Lowers PepsiCo (NASDAQ:PEP) Price Target to $155.00

PepsiCo (NASDAQ:PEP) had its target price decreased by Wells Fargo & Company from $170.00 to $155.00 in a research note released on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other brokerages have also issued reports on PEP. Bank of America cut their price objective 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. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised PepsiCo from a “hold” rating to a “buy” rating and upped their price target for the stock from $179.00 to $184.00 in a research report on Thursday, December 12th. Finally, TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and dropped their target price for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $182.29.

PepsiCo Stock Down 0.6 %

NASDAQ:PEP opened at $145.40 on Tuesday. The company has a market cap of $199.49 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. PepsiCo has a twelve month low of $145.34 and a twelve 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 stock has a fifty day simple moving average of $158.60 and a 200-day simple moving average of $166.97.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (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 company had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same period in the previous year, the company earned $2.25 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. Analysts anticipate that PepsiCo will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were issued a dividend of $1.355 per share. 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 dividend payout ratio (DPR) is presently 79.94%.

Institutional Investors Weigh In On PepsiCo

A number of institutional investors have recently modified their holdings of the business. Empowered Funds LLC increased its stake in shares of PepsiCo by 9.2% during the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after purchasing an additional 8,406 shares in the last quarter. Janus Henderson Group PLC increased its stake in PepsiCo by 11.0% during the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after buying an additional 34,633 shares in the last quarter. IHT Wealth Management LLC raised its holdings in shares of PepsiCo by 19.3% during the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after acquiring an additional 5,220 shares during the last quarter. Meridian Wealth Management LLC acquired a new stake in shares of PepsiCo in the third quarter worth approximately $9,589,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of PepsiCo during the third quarter worth approximately $527,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

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.