Wells Fargo & Company Cuts PepsiCo (NASDAQ:PEP) Price Target to $150.00

PepsiCo (NASDAQ:PEP) had its price target cut by Wells Fargo & Company from $155.00 to $150.00 in a research report report published on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts have also commented on PEP. HSBC dropped their price target on PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a report on Tuesday. Barclays cut their price target on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. TD Cowen reduced their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, UBS Group lowered their price target on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $171.47.

PepsiCo Price Performance

PEP stock opened at $144.58 on Wednesday. The company has a market capitalization of $198.29 billion, a P/E ratio of 21.32, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54. PepsiCo has a 52-week low of $141.51 and a 52-week high of $183.41. The business has a 50-day simple moving average of $151.80 and a two-hundred day simple moving average of $164.26. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same quarter in the prior year, the company posted $1.78 earnings per share. PepsiCo’s revenue was down .2% compared to the same quarter last year. Research analysts expect that PepsiCo will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Friday, March 7th. PepsiCo’s payout ratio is 77.99%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Highline Wealth Partners LLC bought a new position in shares of PepsiCo in the 3rd quarter worth $28,000. Collier Financial bought a new position in PepsiCo in the fourth quarter valued at $28,000. Creative Capital Management Investments LLC purchased a new stake in PepsiCo during the fourth quarter valued at about $30,000. Legacy Investment Solutions LLC purchased a new position in shares of PepsiCo in the 3rd quarter worth about $31,000. Finally, Rakuten Securities Inc. increased its position in shares of PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during 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.