Wells Fargo & Company Issues Pessimistic Forecast for PepsiCo (NASDAQ:PEP) Stock Price

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

Several other equities analysts have also issued reports on the stock. BNP Paribas cut their price objective on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday. Morgan Stanley reduced their price target on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research report on Wednesday. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. HSBC decreased their price target on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $171.76.

PepsiCo Trading Up 1.5 %

Shares of NASDAQ PEP opened at $145.66 on Wednesday. PepsiCo has a twelve month low of $141.51 and a twelve month high of $183.41. The firm has a market cap of $199.84 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54. The business has a fifty day simple moving average of $152.49 and a two-hundred day simple moving average of $164.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the company posted $1.78 earnings per share. Analysts expect that PepsiCo will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.72%. PepsiCo’s payout ratio is 79.94%.

Hedge Funds Weigh In On PepsiCo

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo in the 3rd quarter valued at $28,000. Collier Financial purchased a new stake in PepsiCo in the fourth quarter valued at $28,000. Legacy Investment Solutions LLC purchased a new position in shares of PepsiCo during the 3rd quarter valued at about $31,000. Rakuten Securities Inc. lifted its holdings in shares of PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares during the period. Finally, Creative Capital Management Investments LLC acquired a new stake in PepsiCo during the fourth quarter worth about $30,000. 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.