PepsiCo (NASDAQ:PEP) Rating Lowered to “Equal Weight” at Barclays

Barclays downgraded shares of PepsiCo (NASDAQ:PEP) from an overweight rating to an equal weight rating in a research report report published on Tuesday, Marketbeat Ratings reports. The brokerage currently has $156.00 price objective on the stock, down from their prior price objective of $168.00.

PEP has been the topic of several other reports. Piper Sandler assumed 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. Royal Bank of Canada assumed coverage on PepsiCo in a research report on Tuesday, February 4th. They issued a $172.00 target price on the stock. Wells Fargo & Company dropped their target price on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Evercore ISI dropped their target price on PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. Finally, StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $169.88.

PepsiCo Stock Down 1.6 %

NASDAQ:PEP opened at $148.99 on Tuesday. The firm has a market capitalization of $204.34 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 3.09 and a beta of 0.52. PepsiCo has a 1-year low of $141.51 and a 1-year high of $183.41. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The business’s fifty day moving average price is $148.94 and its 200 day moving average price is $159.58.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. PepsiCo’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 earnings per share. On average, sell-side analysts forecast that PepsiCo will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is currently 77.99%.

Institutional Trading of PepsiCo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Collier Financial acquired a new stake in shares of PepsiCo during the 4th quarter worth approximately $28,000. WealthTrak Capital Management LLC acquired a new stake in shares of PepsiCo during the 4th quarter worth approximately $28,000. Creative Capital Management Investments LLC acquired a new stake in shares of PepsiCo during the 4th quarter worth approximately $30,000. Prudent Man Investment Management Inc. acquired a new stake in shares of PepsiCo during the 4th quarter worth approximately $30,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of PepsiCo during the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds 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.