PepsiCo (NASDAQ:PEP) Given New $160.00 Price Target at BNP Paribas

PepsiCo (NASDAQ:PEP) had its target price reduced by BNP Paribas from $162.00 to $160.00 in a research report released on Tuesday morning. They currently have a neutral rating on the stock.

PEP has been the topic of several other reports. Wells Fargo & Company lowered their target price on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. TD Cowen dropped their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Piper Sandler began coverage on shares of PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. Finally, Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus target price of $174.53.

PepsiCo Stock Performance

Shares of PEP stock opened at $143.49 on Tuesday. The company has a market capitalization of $196.87 billion, a price-to-earnings ratio of 21.16, 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 has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a 50-day simple moving average of $152.86 and a 200 day simple moving average of $164.71.

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

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

Institutional Trading of PepsiCo

Large investors have recently bought and sold shares of the business. Empowered Funds LLC increased its holdings in PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after purchasing an additional 8,406 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of PepsiCo by 104.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock valued at $259,350,000 after acquiring an additional 870,451 shares during the period. Janus Henderson Group PLC boosted its stake in PepsiCo by 11.0% during the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after acquiring an additional 34,633 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV grew its holdings in PepsiCo by 12.8% in the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after purchasing an additional 4,712 shares during the period. Finally, IHT Wealth Management LLC raised its holdings in shares of PepsiCo by 19.3% during the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after purchasing an additional 5,220 shares during the period. 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.