TD Cowen Has Lowered Expectations for PepsiCo (NASDAQ:PEP) Stock Price

PepsiCo (NASDAQ:PEP) had its target price decreased by TD Cowen from $183.00 to $160.00 in a research report sent to investors on Wednesday morning,Benzinga reports. TD Cowen currently has a hold rating on the stock.

PEP has been the subject of a number of other research reports. Piper Sandler assumed coverage on shares of PepsiCo in a report on Tuesday. They issued an “overweight” rating and a $171.00 price objective for the company. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised shares of PepsiCo from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $179.00 to $184.00 in a research note on Thursday, December 12th. Royal Bank of Canada lowered their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. reduced their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $180.64.

PepsiCo Stock Down 2.7 %

Shares of NASDAQ:PEP opened at $142.64 on Wednesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo has a 52-week low of $141.51 and a 52-week high of $183.41. The company has a market capitalization of $195.70 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. The company has a fifty day moving average of $157.35 and a 200-day moving average of $166.51.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same period last year, the company earned $2.25 earnings per share. The business’s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts predict that PepsiCo will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

Hedge Funds Weigh In On PepsiCo

Several institutional investors have recently made changes to their positions in PEP. Global Wealth Strategies & Associates grew its position in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the period. Highline Wealth Partners LLC acquired a new position in shares of PepsiCo during the third quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new stake in shares of PepsiCo during the third quarter worth about $31,000. Rakuten Securities Inc. raised its holdings in shares of PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares during the last quarter. Finally, Mattson Financial Services LLC bought a new position in PepsiCo in the 2nd quarter valued at about $34,000. 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.