PepsiCo (NASDAQ:PEP) Now Covered by Piper Sandler

Piper Sandler initiated coverage on shares of PepsiCo (NASDAQ:PEP) in a research note released on Tuesday morning, Marketbeat reports. The brokerage issued an overweight rating and a $171.00 price objective on the stock.

A number of other equities research analysts have also issued reports on the stock. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Barclays decreased their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research report on Friday, September 20th. Royal Bank of Canada dropped their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $180.64.

PepsiCo Stock Up 0.8 %

PEP opened at $146.54 on Tuesday. PepsiCo has a fifty-two week low of $144.56 and a fifty-two week high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The stock has a market cap of $201.05 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. The firm’s fifty day moving average is $157.81 and its 200 day moving average is $166.68.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The firm had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.25 earnings per share. On average, sell-side analysts forecast that PepsiCo will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were issued a $1.355 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.70%. PepsiCo’s payout ratio is 79.94%.

Institutional Investors Weigh In On PepsiCo

Hedge funds have recently made changes to their positions in the company. Empowered Funds LLC raised its stake 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 buying an additional 8,406 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of PepsiCo by 11.0% in the 3rd 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. IHT Wealth Management LLC boosted its position in 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 in the last quarter. Meridian Wealth Management LLC purchased a new position in PepsiCo in the third quarter valued at about $9,589,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of PepsiCo during the third quarter valued at about $527,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

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.