PepsiCo (NASDAQ:PEP) Research Coverage Started at Royal Bank of Canada

Royal Bank of Canada initiated coverage on shares of PepsiCo (NASDAQ:PEP) in a research report released on Tuesday morning. The brokerage issued a $172.00 target price on the stock.

Other equities analysts have also recently issued reports about the stock. TD Cowen cut their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company reduced their target price on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Piper Sandler initiated coverage on PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average target price of $171.47.

PepsiCo Trading Down 0.2 %

Shares of PEP stock opened at $145.35 on Tuesday. The stock has a fifty day simple moving average of $152.15 and a two-hundred day simple moving average of $164.39. PepsiCo has a 52-week low of $141.51 and a 52-week high of $183.41. The firm has a market capitalization of $199.42 billion, a PE ratio of 21.44, a PEG 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.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating 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 company 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 EPS. The firm’s quarterly revenue was down .2% on a year-over-year basis. On average, analysts predict that PepsiCo will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.73%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Institutional Trading of PepsiCo

A number of large investors have recently made changes to their positions in PEP. Beacon Harbor Wealth Advisors Inc. bought a new stake in PepsiCo during the 4th quarter valued at about $3,878,000. Inceptionr LLC bought a new stake in shares of PepsiCo during the fourth quarter valued at approximately $1,732,000. Raymond James Financial Inc. bought a new position in PepsiCo in the fourth quarter worth approximately $589,307,000. Vision Financial Markets LLC purchased a new position in PepsiCo during the 4th quarter worth $83,000. Finally, Arizona State Retirement System raised its position in PepsiCo by 1.1% during the 4th quarter. Arizona State Retirement System now owns 397,975 shares of the company’s stock valued at $60,516,000 after purchasing an additional 4,186 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

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.