Bank of America reaffirmed their neutral rating on shares of PepsiCo (NASDAQ:PEP - Free Report) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. Bank of America currently has a $155.00 price target on the stock, down from their previous price target of $185.00.
A number of other brokerages also recently issued reports on PEP. Morgan Stanley decreased their price target on PepsiCo from $185.00 to $168.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. Royal Bank of Canada assumed coverage on shares of PepsiCo in a report on Tuesday, February 4th. They issued a $172.00 target price for the company. Piper Sandler started coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an "overweight" rating and a $171.00 price target on the stock. Jefferies Financial Group downgraded shares of PepsiCo from a "buy" rating to a "hold" rating and decreased their price objective for the company from $171.00 to $170.00 in a research note on Wednesday, March 12th. Finally, Evercore ISI cut their target price on PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, PepsiCo currently has an average rating of "Hold" and an average price target of $168.12.
Get Our Latest Stock Report on PepsiCo
PepsiCo Trading Up 2.0 %
Shares of NASDAQ PEP traded up $2.75 during mid-day trading on Tuesday, reaching $142.84. 6,052,161 shares of the company's stock were exchanged, compared to its average volume of 6,110,283. The firm has a market capitalization of $195.88 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 3.09 and a beta of 0.49. PepsiCo has a 52-week low of $138.33 and a 52-week high of $183.41. The company's 50-day moving average is $148.16 and its 200-day moving average is $154.94. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82.
PepsiCo (NASDAQ:PEP - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. PepsiCo's revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 EPS. Analysts expect that PepsiCo will post 8.3 EPS for the current fiscal year.
PepsiCo Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.79%. The ex-dividend date was Friday, March 7th. PepsiCo's payout ratio is 77.99%.
Institutional Investors Weigh In On PepsiCo
Hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of PepsiCo in the fourth quarter worth approximately $2,729,565,000. GAMMA Investing LLC increased its holdings in shares of PepsiCo by 19,106.5% during the 1st quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock worth $688,017,000 after buying an additional 4,564,723 shares during the last quarter. Raymond James Financial Inc. acquired a new position in PepsiCo in the fourth quarter valued at $589,307,000. Charles Schwab Investment Management Inc. grew its position in PepsiCo by 18.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock valued at $3,834,504,000 after acquiring an additional 3,856,193 shares during the period. Finally, Franklin Resources Inc. increased its stake in PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company's stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.
About PepsiCo
(
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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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