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

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

Several other analysts have also issued reports on the stock. Morgan Stanley lowered 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 report on Friday, September 20th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. reduced their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Wells Fargo & Company dropped their price objective on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Royal Bank of Canada decreased their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $180.64.

PepsiCo Trading Down 2.7 %

Shares of NASDAQ:PEP opened at $142.64 on Wednesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The company’s 50-day moving average price is $157.35 and its two-hundred day moving average price is $166.51. The stock has a market capitalization of $195.70 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. PepsiCo has a one year low of $141.51 and a one year high of $183.41.

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

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders 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 3.80%. PepsiCo’s payout ratio is presently 79.94%.

Hedge Funds Weigh In On PepsiCo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PEP. Quest Partners LLC boosted its position in shares of PepsiCo by 44.8% during the 2nd quarter. Quest Partners LLC now owns 6,665 shares of the company’s stock worth $1,099,000 after acquiring an additional 2,063 shares in the last quarter. Van Hulzen Asset Management LLC boosted its holdings in shares of PepsiCo by 12.2% in the 2nd quarter. Van Hulzen Asset Management LLC now owns 5,121 shares of the company’s stock valued at $845,000 after purchasing an additional 557 shares in the last quarter. MGO One Seven LLC raised its holdings in shares of PepsiCo by 2.5% during the 2nd quarter. MGO One Seven LLC now owns 26,983 shares of the company’s stock worth $4,450,000 after buying an additional 668 shares in the last quarter. Angeles Wealth Management LLC lifted its position in shares of PepsiCo by 8.5% during the 2nd quarter. Angeles Wealth Management LLC now owns 13,495 shares of the company’s stock worth $2,226,000 after buying an additional 1,059 shares during the last quarter. Finally, Vaughan David Investments LLC IL boosted its stake in PepsiCo by 0.6% in the second quarter. Vaughan David Investments LLC IL now owns 272,551 shares of the company’s stock valued at $44,952,000 after buying an additional 1,689 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

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.