PepsiCo (NASDAQ:PEP) Price Target Lowered to $168.00 at Morgan Stanley

PepsiCo (NASDAQ:PEP) had its price target cut by Morgan Stanley from $185.00 to $168.00 in a report issued on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also weighed in on PEP. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Evercore ISI lowered their target price on shares of PepsiCo from $180.00 to $160.00 in a report on Tuesday. Royal Bank of Canada started coverage on shares of PepsiCo in a research report on Tuesday. They issued a $172.00 price objective for the company. Piper Sandler assumed coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. Finally, TD Cowen decreased their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $171.76.

PepsiCo Stock Performance

PEP stock opened at $145.66 on Wednesday. PepsiCo has a 1-year low of $141.51 and a 1-year high of $183.41. The business’s 50-day moving average price is $152.49 and its two-hundred day moving average price is $164.53. The firm has a market cap of $199.84 billion, a PE ratio of 21.48, a P/E/G ratio of 2.92 and a beta of 0.54. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

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

PepsiCo Announces Dividend

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 dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.72%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new stake in PepsiCo in the third quarter valued at about $28,000. Collier Financial acquired a new stake in shares of PepsiCo in the 4th quarter valued at approximately $28,000. Creative Capital Management Investments LLC bought a new stake in shares of PepsiCo during the 4th quarter valued at approximately $30,000. Legacy Investment Solutions LLC bought a new position in PepsiCo in the 3rd quarter valued at approximately $31,000. Finally, Rakuten Securities Inc. boosted its position in PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares in the last quarter. 73.07% of the stock is currently 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.