Wells Fargo & Company Cuts PepsiCo (NASDAQ:PEP) Price Target to $155.00

PepsiCo (NASDAQ:PEP) had its target price reduced by Wells Fargo & Company from $170.00 to $155.00 in a report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research firms have also weighed in on PEP. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Royal Bank of Canada lowered their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Bank of America reduced their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Piper Sandler assumed coverage on shares of PepsiCo in a report on Tuesday. They set an “overweight” rating and a $171.00 target price for the company. Finally, JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $180.64.

PepsiCo Stock Up 0.8 %

Shares of PEP stock opened at $146.54 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo has a 1 year low of $144.56 and a 1 year high of $183.41. The firm’s fifty day moving average price is $157.81 and its two-hundred day moving average price is $166.68. The firm has a market capitalization of $201.05 billion, a P/E ratio of 21.61, a PEG ratio of 2.94 and a beta of 0.54.

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 the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.25 EPS. On average, equities analysts predict that PepsiCo will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

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

Institutional Trading of PepsiCo

Institutional investors and hedge funds have recently made changes to their positions in the company. Michael S. Ryan Inc. increased its position in PepsiCo by 3.3% during the 4th quarter. Michael S. Ryan Inc. now owns 2,239 shares of the company’s stock worth $340,000 after purchasing an additional 71 shares in the last quarter. Legacy Private Trust Co. increased its position in PepsiCo by 73.4% during the 4th quarter. Legacy Private Trust Co. now owns 8,415 shares of the company’s stock worth $1,280,000 after purchasing an additional 3,561 shares in the last quarter. Farmers Trust Co. increased its position in PepsiCo by 0.6% during the 4th quarter. Farmers Trust Co. now owns 51,197 shares of the company’s stock worth $7,785,000 after purchasing an additional 315 shares in the last quarter. Douglas Lane & Associates LLC increased its position in PepsiCo by 10.0% during the 4th quarter. Douglas Lane & Associates LLC now owns 220,922 shares of the company’s stock worth $33,593,000 after purchasing an additional 20,016 shares in the last quarter. Finally, InvesTrust acquired a new position in PepsiCo during the 4th quarter worth approximately $6,268,000. 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.