PepsiCo (NASDAQ:PEP) Given New $150.00 Price Target at Wells Fargo & Company

PepsiCo (NASDAQ:PEP) had its price objective reduced by Wells Fargo & Company from $155.00 to $150.00 in a report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other equities research analysts have also issued research reports about the company. HSBC cut their price target on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lowered their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Royal Bank of Canada initiated coverage on shares of PepsiCo in a report on Tuesday. They set a $172.00 price objective for the company. TD Cowen lowered their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, Barclays cut their target price on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $171.76.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $145.66 on Wednesday. The stock has a market cap of $199.84 billion, a P/E ratio of 21.48, a P/E/G ratio of 2.92 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The stock’s fifty day moving average is $152.49 and its 200 day moving average is $164.53. PepsiCo has a one year low of $141.51 and a one year high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. During the same quarter last year, the company earned $1.78 earnings per share. The business’s revenue for the quarter was down .2% compared to the same quarter last year. Sell-side analysts anticipate that PepsiCo will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

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

Institutional Investors Weigh In On PepsiCo

Several institutional investors have recently made changes to their positions in PEP. International Assets Investment Management LLC lifted its stake in PepsiCo by 17,113.0% in the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after purchasing an additional 3,201,676 shares during the last quarter. State Street Corp raised its holdings in shares of PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after buying an additional 2,775,679 shares during the period. Franklin Resources Inc. lifted its stake in shares of PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares during the last quarter. Swedbank AB grew its position in PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after acquiring an additional 1,592,343 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in PepsiCo by 360.0% in the fourth quarter. Van ECK Associates Corp now owns 1,697,742 shares of the company’s stock worth $258,158,000 after purchasing an additional 1,328,672 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Company Profile

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.