PepsiCo (NASDAQ:PEP) Research Coverage Started at Piper Sandler

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

A number of other research analysts also recently weighed in on PEP. JPMorgan Chase & Co. reduced their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Bank of America decreased their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research report on Friday, September 20th. Royal Bank of Canada lowered their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft raised shares of PepsiCo from a “hold” rating to a “buy” rating and raised their target price for the company from $179.00 to $184.00 in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $180.64.

PepsiCo Trading Up 0.8 %

NASDAQ:PEP opened at $146.54 on Tuesday. The firm has a market capitalization of $201.05 billion, a P/E ratio of 21.61, a P/E/G ratio of 2.94 and a beta of 0.54. PepsiCo has a 52 week low of $144.56 and a 52 week high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company has a fifty day moving average of $157.81 and a 200 day moving average of $166.68.

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

PepsiCo Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PEP. Global Wealth Strategies & Associates increased its position in shares of PepsiCo by 59.0% during 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 last quarter. Highline Wealth Partners LLC purchased a new stake in PepsiCo during the third quarter valued at approximately $28,000. Legacy Investment Solutions LLC bought a new position in PepsiCo in the third quarter worth approximately $31,000. Mattson Financial Services LLC bought a new stake in shares of PepsiCo during the 2nd quarter valued at $34,000. Finally, Rakuten Securities Inc. increased its stake in shares of PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares in the last quarter. 73.07% of the stock is 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.