Citigroup Issues Pessimistic Forecast for PepsiCo (NASDAQ:PEP) Stock Price

PepsiCo (NASDAQ:PEP) had its target price cut by Citigroup from $195.00 to $170.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

PEP has been the subject of several other reports. JPMorgan Chase & Co. reduced their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Piper Sandler started coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. BNP Paribas reduced their price objective on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday. Morgan Stanley lowered their target price on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $171.76.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $145.66 on Wednesday. The firm has a market capitalization of $199.84 billion, a P/E ratio of 21.48, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The business’s fifty day simple moving average is $152.49 and its 200 day simple moving average is $164.53. PepsiCo has a 12 month low of $141.51 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.02. The company had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $1.78 EPS. As a group, analysts anticipate that PepsiCo will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.72%. PepsiCo’s payout ratio is presently 79.94%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PEP. State Street Corp raised its holdings in shares of PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after acquiring an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC increased its position in PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after purchasing an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in PepsiCo by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after purchasing an additional 1,125,059 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of PepsiCo by 5.2% in the 4th quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company’s stock worth $2,130,841,000 after purchasing an additional 689,383 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after purchasing an additional 2,264,445 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.