PepsiCo (NASDAQ:PEP) Price Target Cut to $176.00 by Analysts at Royal Bank of Canada

PepsiCo (NASDAQ:PEP) had its price objective decreased by Royal Bank of Canada from $177.00 to $176.00 in a research note issued to investors on Friday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. raised their price target on shares of PepsiCo from $182.00 to $185.00 and gave the company a neutral rating in a report on Tuesday. TD Cowen cut their price target on shares of 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 cut their price target on shares of PepsiCo from $210.00 to $200.00 and set a buy rating on the stock in a report on Tuesday, July 9th. Bank of America cut their price target on shares of PepsiCo from $190.00 to $185.00 and set a buy rating on the stock in a report on Monday, September 30th. Finally, Wells Fargo & Company cut their price target on shares of PepsiCo from $175.00 to $170.00 and set an equal weight rating on the stock in a report on Wednesday, July 10th. Nine equities research analysts have rated the stock with a hold rating and six have issued 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 $185.29.

PepsiCo Trading Down 0.3 %

Shares of PEP traded down $0.56 during mid-day trading on Friday, hitting $167.97. The company had a trading volume of 4,391,321 shares, compared to its average volume of 5,492,783. The business’s 50-day simple moving average is $173.80 and its 200-day simple moving average is $172.10. The company has a quick ratio of 0.64, a current ratio of 0.83 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 stock has a market cap of $230.92 billion, a PE ratio of 24.38, a P/E/G ratio of 2.93 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping 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 business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. During the same period last year, the company earned $2.09 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. Sell-side analysts forecast that PepsiCo will post 8.14 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s payout ratio is currently 78.66%.

Institutional Trading of PepsiCo

A number of hedge funds have recently made changes to their positions in PEP. Morningstar Investment Services LLC boosted its holdings in PepsiCo by 168.1% in the fourth quarter. Morningstar Investment Services LLC now owns 10,135 shares of the company’s stock worth $1,717,000 after purchasing an additional 6,354 shares during the period. CenterBook Partners LP boosted its holdings in PepsiCo by 29.2% in the fourth quarter. CenterBook Partners LP now owns 10,771 shares of the company’s stock worth $1,829,000 after purchasing an additional 2,434 shares during the period. Prudential PLC boosted its holdings in PepsiCo by 0.9% in the fourth quarter. Prudential PLC now owns 65,150 shares of the company’s stock worth $11,065,000 after purchasing an additional 583 shares during the period. Wealth Quarterback LLC boosted its holdings in PepsiCo by 89.4% in the fourth quarter. Wealth Quarterback LLC now owns 5,113 shares of the company’s stock worth $868,000 after purchasing an additional 2,414 shares during the period. Finally, Waterloo Capital L.P. boosted its holdings in PepsiCo by 7.3% in the fourth quarter. Waterloo Capital L.P. now owns 23,821 shares of the company’s stock worth $4,046,000 after purchasing an additional 1,621 shares during the period. 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.