PepsiCo (NASDAQ:PEP) Price Target Cut to $190.00 by Analysts at TD Cowen

PepsiCo (NASDAQ:PEPFree Report) had its price objective lowered by TD Cowen from $200.00 to $190.00 in a research report report published on Wednesday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the stock.

PEP has been the topic of several other research reports. JPMorgan Chase & Co. lifted their price target on PepsiCo from $181.00 to $184.00 and gave the stock a neutral rating in a report on Wednesday, June 26th. Morgan Stanley upgraded shares of PepsiCo from an equal weight rating to an overweight rating and set a $190.00 target price on the stock in a report on Monday, March 18th. Argus lowered shares of PepsiCo from a buy rating to a hold rating in a research report on Wednesday, April 3rd. Wedbush reiterated an outperform rating and issued a $195.00 price objective on shares of PepsiCo in a research report on Tuesday, April 23rd. Finally, Jefferies Financial Group lifted their target price on PepsiCo from $209.00 to $211.00 and gave the company a buy rating in a research report on Thursday, May 16th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, PepsiCo has a consensus rating of Moderate Buy and a consensus target price of $186.64.

View Our Latest Analysis on PepsiCo

PepsiCo Stock Performance

PEP opened at $162.60 on Wednesday. The firm has a market capitalization of $223.54 billion, a PE ratio of 24.45, a PEG ratio of 2.71 and a beta of 0.52. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. PepsiCo has a twelve month low of $155.83 and a twelve month high of $192.38. The firm’s 50-day moving average price is $172.95 and its 200 day moving average price is $170.24.

PepsiCo (NASDAQ:PEPGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The business had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. During the same period in the prior year, the business earned $1.50 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts expect that PepsiCo will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Friday, June 7th. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio (DPR) is currently 81.50%.

Insider Transactions at PepsiCo

In other news, CEO Ramkumar Krishnan sold 5,620 shares of PepsiCo stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $178.00, for a total value of $1,000,360.00. Following the completion of the transaction, the chief executive officer now owns 53,953 shares in the company, valued at approximately $9,603,634. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On PepsiCo

Several institutional investors have recently modified their holdings of PEP. LFA Lugano Financial Advisors SA increased its holdings in shares of PepsiCo by 80.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock valued at $27,000 after acquiring an additional 70 shares during the last quarter. Valued Wealth Advisors LLC increased its stake in PepsiCo by 77.5% in the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 69 shares during the last quarter. Fortis Group Advisors LLC raised its holdings in PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 97 shares in the last quarter. Life Planning Partners Inc purchased a new stake in shares of PepsiCo during the 4th quarter worth approximately $34,000. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of PepsiCo in the 1st quarter valued at $35,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

About PepsiCo

(Get Free Report)

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.

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Analyst Recommendations for PepsiCo (NASDAQ:PEP)

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