PepsiCo (NASDAQ:PEP) Price Target Cut to $150.00 by Analysts at Wells Fargo & Company

PepsiCo (NASDAQ:PEP) had its price objective cut by Wells Fargo & Company from $154.00 to $150.00 in a report issued on Thursday morning, Marketbeat Ratings reports. They currently have an equal weight rating on the stock.

A number of other equities analysts also recently commented on PEP. Citigroup lowered their target price on shares of PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of PepsiCo in a research note on Thursday, July 17th. Cowen reiterated a “hold” rating on shares of PepsiCo in a research note on Thursday, July 17th. JPMorgan Chase & Co. lowered their target price on shares of PepsiCo from $150.00 to $139.00 and set a “neutral” rating for the company in a research note on Thursday, July 10th. Finally, Bank of America reduced their price target on shares of PepsiCo from $150.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, July 11th. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $158.13.

PepsiCo Stock Performance

NASDAQ:PEP opened at $139.92 on Thursday. The company has a fifty day simple moving average of $144.68 and a two-hundred day simple moving average of $139.79. The company has a market cap of $191.56 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 3.59 and a beta of 0.46. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. PepsiCo has a 52 week low of $127.60 and a 52 week high of $177.50.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, July 17th. The company reported $2.12 EPS for the quarter, topping the consensus estimate of $2.03 by $0.09. The business had revenue of $22.73 billion during the quarter, compared to the consensus estimate of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.28 earnings per share. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. As a group, equities analysts anticipate 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 Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo’s dividend payout ratio is presently 103.64%.

Institutional Investors Weigh In On PepsiCo

A number of institutional investors and hedge funds have recently made changes to their positions in PEP. Nova Wealth Management Inc. purchased a new stake in shares of PepsiCo in the first quarter valued at about $25,000. Evolution Wealth Management Inc. purchased a new stake in shares of PepsiCo in the second quarter valued at about $27,000. Elite Financial Inc. purchased a new stake in shares of PepsiCo in the first quarter valued at about $28,000. Legend Financial Advisors Inc. purchased a new stake in shares of PepsiCo in the second quarter valued at about $29,000. Finally, Vermillion & White Wealth Management Group LLC raised its holdings in PepsiCo by 107.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after purchasing an additional 121 shares in the last quarter. 73.07% of the stock is 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.