Piper Sandler Begins Coverage on PepsiCo (NASDAQ:PEP)

Piper Sandler began coverage on shares of PepsiCo (NASDAQ:PEP - Free Report) in a research report report published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $171.00 target price on the stock.

Other research analysts have also issued research reports about the company. Hsbc Global Res raised PepsiCo to a "hold" rating in a report on Thursday, October 10th. Morgan Stanley cut shares of PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 price target on the stock. in a research note on Friday, September 20th. Royal Bank of Canada decreased their price objective on shares of PepsiCo from $177.00 to $176.00 and set a "sector perform" rating on the stock in a report on Friday, October 4th. Redburn Atlantic raised shares of PepsiCo to a "strong sell" rating in a report on Thursday, October 10th. Finally, StockNews.com raised PepsiCo from a "hold" rating to a "buy" rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $182.29.

PepsiCo Stock Performance

Shares of PEP traded down $0.87 during mid-day trading on Tuesday, reaching $145.40. 7,469,304 shares of the company's stock were exchanged, compared to its average volume of 6,782,795. The business's fifty day simple moving average is $159.04 and its 200-day simple moving average is $167.12. PepsiCo has a 52-week low of $145.34 and a 52-week high of $183.41. The stock has a market capitalization of $199.49 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results 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 return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $23.32 billion for the quarter, compared to analysts' expectations of $23.86 billion. During the same quarter in the previous year, the firm posted $2.25 EPS. The firm's revenue for the quarter was down .6% on a year-over-year basis. On average, equities research analysts expect that PepsiCo will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.73%. PepsiCo's dividend payout ratio is currently 79.94%.

Institutional Investors Weigh In On PepsiCo

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Global Wealth Strategies & Associates raised its holdings in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company's stock valued at $27,000 after purchasing an additional 59 shares during the period. Cross Staff Investments Inc increased its holdings in shares of PepsiCo by 0.9% during the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company's stock worth $1,204,000 after acquiring an additional 60 shares during the last quarter. Paulson Wealth Management Inc. raised its stake in PepsiCo by 2.1% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company's stock valued at $508,000 after acquiring an additional 60 shares during the period. LCM Capital Management Inc lifted its holdings in PepsiCo by 0.8% during the 3rd quarter. LCM Capital Management Inc now owns 7,573 shares of the company's stock valued at $1,288,000 after purchasing an additional 62 shares during the last quarter. Finally, Demars Financial Group LLC increased its holdings in shares of PepsiCo by 1.1% in the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company's stock valued at $973,000 after purchasing an additional 62 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

About PepsiCo

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.