Evercore ISI Issues Pessimistic Forecast for PepsiCo (NASDAQ:PEP) Stock Price

PepsiCo (NASDAQ:PEP - Free Report) had its price target trimmed by Evercore ISI from $180.00 to $160.00 in a research report sent to investors on Tuesday morning.

A number of other analysts have also recently commented on PEP. StockNews.com raised PepsiCo from a "hold" rating to a "buy" rating in a research note on Tuesday, November 5th. Wells Fargo & Company cut their target price on shares of PepsiCo from $170.00 to $155.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. Piper Sandler initiated coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an "overweight" rating and a $171.00 price target for the company. Redburn Atlantic upgraded PepsiCo to a "strong sell" rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on PepsiCo from $184.00 to $178.00 and set a "buy" rating for the company in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $171.47.

PepsiCo Trading Down 0.2 %

Shares of PEP traded down $0.31 on Tuesday, reaching $145.35. 5,602,363 shares of the company's stock were exchanged, compared to its average volume of 6,929,600. The business has a 50 day moving average price of $152.15 and a two-hundred day moving average price of $164.39. PepsiCo has a 12 month low of $141.51 and a 12 month high of $183.41. The stock has a market capitalization of $199.42 billion, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.02. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. During the same quarter in the prior year, the business posted $1.78 EPS. The firm's quarterly revenue was down .2% on a year-over-year basis. Research analysts anticipate that PepsiCo will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a dividend of $1.355 per share. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.73%. PepsiCo's payout ratio is presently 79.94%.

Hedge Funds Weigh In On PepsiCo

Several hedge funds and other institutional investors have recently made changes to their positions in PEP. AMF Tjanstepension AB raised its holdings in shares of PepsiCo by 15.8% in the 3rd quarter. AMF Tjanstepension AB now owns 293,824 shares of the company's stock valued at $50,016,000 after purchasing an additional 40,031 shares during the period. Czech National Bank raised its stake in PepsiCo by 6.8% in the third quarter. Czech National Bank now owns 279,811 shares of the company's stock valued at $47,582,000 after buying an additional 17,833 shares during the period. Miracle Mile Advisors LLC boosted its stake in shares of PepsiCo by 12.4% during the 3rd quarter. Miracle Mile Advisors LLC now owns 13,829 shares of the company's stock worth $2,352,000 after acquiring an additional 1,527 shares during the period. Atwood & Palmer Inc. increased its holdings in shares of PepsiCo by 1.2% during the 3rd quarter. Atwood & Palmer Inc. now owns 13,753 shares of the company's stock worth $2,339,000 after acquiring an additional 160 shares during the last quarter. Finally, Pacifica Partners Inc. raised its stake in PepsiCo by 4.6% in the 3rd quarter. Pacifica Partners Inc. now owns 20,425 shares of the company's stock valued at $3,473,000 after acquiring an additional 892 shares during the period. 73.07% of the stock is owned by institutional investors.

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.