PepsiCo (NASDAQ:PEP) Cut to Equal Weight at Morgan Stanley

Morgan Stanley cut shares of PepsiCo (NASDAQ:PEP - Free Report) from an overweight rating to an equal weight rating in a report issued on Friday, MarketBeat.com reports. They currently have $185.00 price target on the stock.

PEP has been the topic of a number of other research reports. TD Cowen reduced their target price on PepsiCo from $200.00 to $190.00 and set a buy rating on the stock in a report on Wednesday, July 3rd. Jefferies Financial Group decreased their target price on PepsiCo from $210.00 to $200.00 and set a buy rating on the stock in a research report on Tuesday, July 9th. StockNews.com raised shares of PepsiCo from a hold rating to a buy rating in a report on Wednesday, August 28th. DZ Bank lowered shares of PepsiCo from a buy rating to a hold rating and set a $183.00 price target on the stock. in a report on Friday, July 19th. Finally, Bank of America dropped their price objective on shares of PepsiCo from $210.00 to $190.00 and set a buy rating for the company in a research note on Monday, July 8th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $185.53.

PepsiCo Price Performance

PepsiCo stock traded down $3.48 during mid-day trading on Friday, reaching $171.18. 12,136,152 shares of the company were exchanged, compared to its average volume of 4,782,371. The company has a fifty day simple moving average of $173.51 and a 200-day simple moving average of $171.74. The firm has a market cap of $235.13 billion, a PE ratio of 24.84, a PEG ratio of 3.06 and a beta of 0.53. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. PepsiCo has a 12 month low of $155.83 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.12. The business had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. PepsiCo's revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.09 earnings per share. As a group, equities research analysts expect that PepsiCo will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a $1.355 dividend. The ex-dividend date is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.17%. PepsiCo's dividend payout ratio (DPR) is presently 78.66%.

Institutional Trading of PepsiCo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC lifted its stake in shares of PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company's stock valued at $28,000 after purchasing an additional 69 shares during the period. POM Investment Strategies LLC lifted its stake in PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company's stock valued at $30,000 after buying an additional 106 shares during the period. Summit Securities Group LLC acquired a new stake in shares of PepsiCo during the 2nd quarter worth approximately $30,000. Fortis Group Advisors LLC increased its stake in shares of PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company's stock valued at $33,000 after acquiring an additional 97 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of PepsiCo during the 1st quarter valued at $35,000. 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.