PepsiCo (NASDAQ:PEP) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of PepsiCo (NASDAQ:PEP) from a buy rating to a hold rating in a report published on Friday morning.

PEP has been the subject of a number of other research reports. DZ Bank downgraded shares of PepsiCo from a buy rating to a hold rating and set a $183.00 price objective for the company. in a research report on Friday, July 19th. Morgan Stanley downgraded shares of PepsiCo from an overweight rating to an equal weight rating and set a $185.00 price objective for the company. in a research report on Friday. TD Cowen decreased their price objective on shares of PepsiCo from $200.00 to $190.00 and set a buy rating for the company in a research report on Wednesday, July 3rd. Royal Bank of Canada decreased their price objective on shares of PepsiCo from $180.00 to $177.00 and set a sector perform rating for the company in a research report on Friday, July 12th. Finally, Bank of America decreased their price objective on shares of PepsiCo from $210.00 to $190.00 and set a buy rating for the company in a research report on Monday, July 8th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, PepsiCo has a consensus rating of Hold and a consensus target price of $185.53.

PepsiCo Stock Down 2.0 %

Shares of PEP stock opened at $171.18 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. PepsiCo has a 1 year low of $155.83 and a 1 year high of $183.41. The firm’s fifty day moving average price is $173.51 and its two-hundred day moving average price is $171.87. The firm has a market capitalization of $235.34 billion, a P/E ratio of 24.84, a PEG ratio of 3.06 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. During the same period in the previous year, the business earned $2.09 EPS. The company’s revenue was up .8% compared to the same quarter last year. On average, equities analysts predict that PepsiCo will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio is currently 78.66%.

Institutional Trading of PepsiCo

A number of institutional investors have recently bought and sold shares of the business. Strategy Asset Managers LLC boosted its holdings in PepsiCo by 0.9% in the 1st quarter. Strategy Asset Managers LLC now owns 6,632 shares of the company’s stock valued at $1,161,000 after purchasing an additional 57 shares during the period. Meixler Investment Management Ltd. boosted its holdings in PepsiCo by 4.4% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after purchasing an additional 58 shares during the period. Opes Wealth Management LLC boosted its holdings in PepsiCo by 2.2% in the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after purchasing an additional 59 shares during the period. Bank of Stockton boosted its holdings in PepsiCo by 2.3% in the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after purchasing an additional 60 shares during the period. Finally, Oxbow Advisors LLC raised its position in shares of PepsiCo by 0.7% in the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after buying an additional 60 shares in the last quarter. Institutional investors 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.