TD Cowen Lowers PepsiCo (NASDAQ:PEP) Price Target to $160.00

PepsiCo (NASDAQ:PEP) had its price objective cut by TD Cowen from $183.00 to $160.00 in a report published on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

A number of other equities analysts have also commented on PEP. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Piper Sandler initiated coverage on shares of PepsiCo in a report on Tuesday. They set an “overweight” rating and a $171.00 price objective on the stock. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Wells Fargo & Company decreased their price target on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Morgan Stanley cut 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, September 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $180.64.

PepsiCo Stock Up 0.8 %

Shares of NASDAQ:PEP opened at $146.54 on Wednesday. The company has a market capitalization of $201.05 billion, a PE ratio of 21.61, a P/E/G ratio of 2.94 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The company’s fifty day moving average is $158.20 and its 200-day moving average is $166.82. PepsiCo has a 52 week low of $144.56 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the business posted $2.25 earnings per share. Equities research analysts predict that PepsiCo will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.70%. PepsiCo’s dividend payout ratio is 79.94%.

Institutional Investors Weigh In On PepsiCo

A number of hedge funds have recently modified their holdings of PEP. Global Wealth Strategies & Associates lifted its holdings in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares in the last quarter. Cross Staff Investments Inc raised its stake in PepsiCo by 0.9% in the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock worth $1,204,000 after purchasing an additional 60 shares in the last quarter. Paulson Wealth Management Inc. boosted its holdings 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 purchasing an additional 60 shares during the period. LCM Capital Management Inc increased its holdings in shares of PepsiCo by 0.8% during the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock worth $1,288,000 after purchasing an additional 62 shares during the period. Finally, Demars Financial Group LLC raised its position 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 buying an additional 62 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

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.