PepsiCo (NASDAQ:PEP) Price Target Cut to $176.00 by Analysts at Royal Bank of Canada

PepsiCo (NASDAQ:PEP) had its price objective reduced by Royal Bank of Canada from $177.00 to $176.00 in a research report released on Friday morning, Benzinga reports. They currently have a sector perform rating on the stock.

A number of other research firms have also recently commented on PEP. TD Cowen cut their price target on shares of PepsiCo from $200.00 to $190.00 and set a buy rating on the stock in a report on Wednesday, July 3rd. Morgan Stanley cut shares of PepsiCo from an overweight rating to an equal weight rating and set a $185.00 target price on the stock. in a research note on Friday, September 20th. Jefferies Financial Group reduced their price target on shares of PepsiCo from $210.00 to $200.00 and set a buy rating for the company in a research note on Tuesday, July 9th. JPMorgan Chase & Co. increased their price objective on shares of PepsiCo from $182.00 to $185.00 and gave the company a neutral rating in a research report on Tuesday, October 1st. Finally, Bank of America decreased their target price on shares of PepsiCo from $190.00 to $185.00 and set a buy rating for the company in a research note on Monday, September 30th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $185.29.

PepsiCo Trading Down 0.5 %

NASDAQ PEP opened at $167.21 on Friday. The firm has a market capitalization of $229.67 billion, a PE ratio of 24.27, a P/E/G ratio of 3.07 and a beta of 0.53. The stock’s 50 day moving average is $173.80 and its 200 day moving average is $172.11. PepsiCo has a twelve month low of $157.43 and a twelve month high of $183.41. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $22.59 billion. During the same period last year, the business earned $2.09 EPS. PepsiCo’s quarterly revenue was up .8% compared to the same quarter last year. Research analysts forecast that PepsiCo will post 8.13 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were given a dividend of $1.355 per share. The ex-dividend date was Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.24%. PepsiCo’s payout ratio is 78.66%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its position in shares of PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after buying an additional 905,468 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of PepsiCo by 7.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after purchasing an additional 700,092 shares in the last quarter. Dimensional Fund Advisors LP increased its position in PepsiCo by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after purchasing an additional 561,465 shares during the last quarter. Ameriprise Financial Inc. raised its stake in PepsiCo by 1.1% during the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after purchasing an additional 57,322 shares in the last quarter. Finally, Flossbach Von Storch AG grew its stake in shares of PepsiCo by 67.2% in the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after buying an additional 1,832,385 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

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.