PepsiCo (NASDAQ:PEP) Cut to Hold at StockNews.com

StockNews.com downgraded shares of PepsiCo (NASDAQ:PEP) from a buy rating to a hold rating in a research report report published on Friday.

Several other research analysts have also recently issued reports on the company. Morgan Stanley cut PepsiCo from an overweight rating to an equal weight rating and set a $185.00 price target on the stock. in a report on Friday. Royal Bank of Canada lowered their price target on shares of PepsiCo from $180.00 to $177.00 and set a sector perform rating on the stock in a report on Friday, July 12th. Bank of America decreased their price objective on shares of PepsiCo from $210.00 to $190.00 and set a buy rating for the company in a report on Monday, July 8th. Jefferies Financial Group decreased their price target on shares of PepsiCo from $210.00 to $200.00 and set a buy rating for the company in a report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. decreased their price target on shares of PepsiCo from $184.00 to $182.00 and set a neutral rating for the company in a report on Friday, July 12th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo has an average rating of Hold and an average target price of $185.53.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $171.18 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The firm’s 50-day moving average price is $173.51 and its two-hundred day moving average price is $171.87. PepsiCo has a 52-week low of $155.83 and a 52-week high of $183.41. The stock has a market capitalization of $235.34 billion, a P/E ratio of 24.84, a P/E/G ratio of 3.06 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. The firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. PepsiCo’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the company posted $2.09 earnings per share. As a group, sell-side analysts forecast 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 will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a $1.355 dividend. The ex-dividend date is Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.17%. PepsiCo’s dividend payout ratio (DPR) is presently 78.66%.

Institutional Investors Weigh In On PepsiCo

Several hedge funds have recently bought and sold shares of PEP. Valued Wealth Advisors LLC raised its holdings in shares of PepsiCo by 77.5% during the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after acquiring an additional 69 shares during the period. POM Investment Strategies LLC raised its holdings in shares of PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after acquiring an additional 106 shares during the period. Summit Securities Group LLC acquired a new stake in shares of PepsiCo during the second quarter worth $30,000. Fortis Group Advisors LLC raised its holdings in shares of PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after acquiring an additional 97 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of PepsiCo during the first quarter worth $35,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

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.