PepsiCo (NASDAQ:PEP) Upgraded to Strong Sell by Redburn Atlantic

Redburn Atlantic upgraded shares of PepsiCo (NASDAQ:PEP) to a strong sell rating in a report released on Thursday, Zacks.com reports.

Several other brokerages have also issued reports on PEP. Barclays cut their target price on shares of PepsiCo from $186.00 to $183.00 and set an overweight rating for the company in a research report on Thursday. Wells Fargo & Company reduced their price objective on PepsiCo from $175.00 to $170.00 and set an equal weight rating for the company in a research note on Wednesday, July 10th. Bank of America lowered their target price on PepsiCo from $190.00 to $185.00 and set a buy rating on the stock in a research report on Monday, September 30th. Jefferies Financial Group lowered their price objective on PepsiCo from $210.00 to $200.00 and set a buy rating on the stock in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $185.00 to $183.00 and set a neutral rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, PepsiCo presently has an average rating of Hold and an average target price of $183.92.

PepsiCo Trading Up 1.1 %

Shares of NASDAQ:PEP opened at $174.81 on Thursday. PepsiCo has a 1 year low of $157.43 and a 1 year high of $183.41. The stock’s fifty day moving average price is $173.52 and its 200-day moving average price is $172.08. The company has a market cap of $239.84 billion, a P/E ratio of 25.78, a PEG ratio of 3.11 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.64.

PepsiCo (NASDAQ:PEP) last announced its 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 business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.25 EPS. Sell-side analysts expect that PepsiCo will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were given a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.10%. PepsiCo’s dividend payout ratio (DPR) is currently 79.94%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PEP. Global Wealth Strategies & Associates boosted its holdings in 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 acquiring an additional 59 shares during the period. Valued Wealth Advisors LLC grew its holdings in shares of PepsiCo by 77.5% in the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares during the last quarter. POM Investment Strategies LLC lifted its holdings in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in PepsiCo in the 2nd quarter worth about $30,000. Finally, Fortis Group Advisors LLC raised its stake in shares of PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after acquiring an additional 97 shares in the last quarter. Hedge funds and other institutional investors 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.