Deutsche Bank Aktiengesellschaft upgraded shares of PepsiCo (NASDAQ:PEP - Free Report) from a hold rating to a buy rating in a research note released on Thursday morning, Marketbeat reports. The brokerage currently has $184.00 price objective on the stock, up from their previous price objective of $179.00.
Several other brokerages also recently commented on PEP. Morgan Stanley downgraded PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 price objective for the company. in a research note on Friday, September 20th. TD Cowen cut PepsiCo from a "buy" rating to a "hold" rating and dropped their price objective for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Redburn Atlantic upgraded shares of PepsiCo to a "strong sell" rating in a report on Thursday, October 10th. Barclays cut their price target on shares of PepsiCo from $186.00 to $183.00 and set an "overweight" rating on the stock in a report on Thursday, October 10th. Finally, Royal Bank of Canada dropped their target price on shares of PepsiCo from $177.00 to $176.00 and set a "sector perform" rating on the stock in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $184.31.
Check Out Our Latest Stock Analysis on PepsiCo
PepsiCo Trading Up 0.9 %
PEP traded up $1.36 during trading on Thursday, hitting $158.13. The company's stock had a trading volume of 2,775,733 shares, compared to its average volume of 5,497,465. The firm has a market capitalization of $216.95 billion, a P/E ratio of 23.47, a PEG ratio of 2.94 and a beta of 0.52. PepsiCo has a twelve month low of $155.85 and a twelve month high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock's fifty day moving average price is $166.14 and its 200-day moving average price is $169.20.
PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data 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 net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same quarter in the prior year, the business earned $2.25 earnings per share. The business's quarterly revenue was down .6% compared to the same quarter last year. Analysts anticipate that PepsiCo will post 8.15 EPS for the current year.
PepsiCo Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be issued a $1.355 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.43%. PepsiCo's payout ratio is currently 79.94%.
Institutional Investors Weigh In On PepsiCo
Several hedge funds have recently bought and sold shares of PEP. Meixler Investment Management Ltd. raised its stake in shares of PepsiCo by 4.4% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company's stock valued at $228,000 after buying an additional 58 shares during the last quarter. Opes Wealth Management LLC raised its position in PepsiCo by 2.2% during the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company's stock valued at $453,000 after acquiring an additional 59 shares in the last quarter. Global Wealth Strategies & Associates boosted its position 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. Bank of Stockton grew its stake in shares of PepsiCo by 2.3% during the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company's stock worth $448,000 after purchasing an additional 60 shares during the period. Finally, Oxbow Advisors LLC increased its holdings in shares of PepsiCo by 0.7% during the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company's stock valued at $1,481,000 after purchasing an additional 60 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.
About PepsiCo
(
Get Free Report)
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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