Evercore ISI Cuts PepsiCo (NASDAQ:PEP) Price Target to $160.00

PepsiCo (NASDAQ:PEP) had its target price trimmed by Evercore ISI from $180.00 to $160.00 in a research report report published on Tuesday morning.

A number of other brokerages also recently issued reports on PEP. HSBC lowered their price target on PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research report on Tuesday. BNP Paribas lowered their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report 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 research report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Finally, Wells Fargo & Company lowered their price target on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $171.47.

PepsiCo Stock Down 0.2 %

Shares of PEP opened at $145.35 on Tuesday. PepsiCo has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $199.42 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 2.92 and a beta of 0.54. The stock’s 50-day moving average price is $152.15 and its 200-day moving average price is $164.39.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates 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 in the prior year, the business earned $1.78 earnings per share. The company’s revenue was down .2% compared to the same quarter last year. On average, sell-side analysts predict that PepsiCo will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $1.355 per share. The ex-dividend date is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.73%. PepsiCo’s payout ratio is 79.94%.

Hedge Funds Weigh In On PepsiCo

A number of institutional investors have recently added to or reduced their stakes in the stock. Cross Staff Investments Inc lifted its position in PepsiCo by 0.9% during the third quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock worth $1,204,000 after buying an additional 60 shares in the last quarter. Paulson Wealth Management Inc. raised its position in PepsiCo by 2.1% in the third quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after purchasing an additional 60 shares during the period. LCM Capital Management Inc raised its position in PepsiCo by 0.8% in the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock valued at $1,288,000 after purchasing an additional 62 shares during the period. Demars Financial Group LLC raised its position in PepsiCo by 1.1% in the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock valued at $973,000 after purchasing an additional 62 shares during the period. Finally, Sigma Investment Counselors Inc. raised its position in PepsiCo by 1.6% in the third quarter. Sigma Investment Counselors Inc. now owns 4,310 shares of the company’s stock valued at $733,000 after purchasing an additional 66 shares during the period. Hedge funds and other 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.