Royal Bank of Canada Cuts PepsiCo (NASDAQ:PEP) Price Target to $176.00

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

A number of other equities analysts also recently issued reports on the company. DZ Bank downgraded PepsiCo from a buy rating to a hold rating and set a $183.00 price target on the stock. in a research note on Friday, July 19th. Barclays cut their price target on PepsiCo from $187.00 to $186.00 and set an overweight rating for the company in a research note on Friday. Morgan Stanley cut shares of PepsiCo from an overweight rating to an equal weight rating and set a $185.00 target price for the company. in a report on Friday, September 20th. BNP Paribas assumed coverage on PepsiCo in a research report on Monday, June 24th. They issued a neutral rating and a $174.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price objective on PepsiCo from $182.00 to $185.00 and gave the company a neutral rating in a research report on Tuesday, October 1st. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, PepsiCo has a consensus rating of Hold and an average target price of $185.29.

PepsiCo Stock Down 0.3 %

PepsiCo stock opened at $167.97 on Friday. PepsiCo has a 12 month low of $155.83 and a 12 month high of $183.41. The stock has a fifty day simple moving average of $173.80 and a two-hundred day simple moving average of $172.11. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. The firm has a market cap of $230.72 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 3.07 and a beta of 0.53.

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

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were issued a $1.355 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.23%. PepsiCo’s dividend payout ratio is currently 78.66%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Advisors Ltd. LLC increased its stake in PepsiCo by 3.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock worth $693,000 after acquiring an additional 139 shares during the last quarter. Norden Group LLC raised its stake in PepsiCo by 3,345.6% during the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock valued at $31,391,000 after purchasing an additional 174,171 shares in the last quarter. Marion Wealth Management grew its stake in shares of PepsiCo by 6.3% in the 1st quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock worth $1,467,000 after buying an additional 494 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of PepsiCo by 1.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 715,296 shares of the company’s stock worth $121,486,000 after buying an additional 11,485 shares during the last quarter. Finally, Meyer Handelman Co. raised its position in shares of PepsiCo by 3.9% during the 1st quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock valued at $44,412,000 after buying an additional 9,465 shares in the last quarter. 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.