PepsiCo (NASDAQ:PEP) Given New $160.00 Price Target at Evercore ISI

PepsiCo (NASDAQ:PEP) had its price objective cut by Evercore ISI from $180.00 to $160.00 in a report released on Tuesday morning.

Other research analysts also recently issued reports about the company. Royal Bank of Canada began coverage on PepsiCo in a research note on Tuesday. They set a $172.00 target price for the company. UBS Group cut their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. TD Cowen lowered their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Piper Sandler initiated coverage on PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $174.53.

PepsiCo Price Performance

NASDAQ:PEP opened at $143.49 on Tuesday. The company has a 50 day moving average price of $152.86 and a 200-day moving average price of $164.71. PepsiCo has a 1-year low of $141.51 and a 1-year high of $183.41. The firm has a market cap of $196.87 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. 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 firm posted $1.78 earnings per share. The company’s revenue was down .2% compared to the same quarter last year. Equities research analysts forecast that PepsiCo will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

Institutional Trading of PepsiCo

Several institutional investors have recently added to or reduced their stakes in PEP. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo in the third quarter valued at $28,000. Collier Financial acquired a new position in PepsiCo in the 4th quarter valued at about $28,000. Creative Capital Management Investments LLC purchased a new stake in PepsiCo during the fourth quarter worth about $30,000. Legacy Investment Solutions LLC acquired a new position in shares of PepsiCo in the third quarter valued at approximately $31,000. Finally, Rakuten Securities Inc. increased its stake in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after buying an additional 96 shares during the period. 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.