PepsiCo (NASDAQ:PEP) Upgraded at BNP Paribas Exane

BNP Paribas Exane upgraded shares of PepsiCo (NASDAQ:PEP) from a neutral rating to an outperform rating in a research report released on Friday, MarketBeat reports. They currently have $179.00 price objective on the stock.

PEP has been the topic of a number of other research reports. Barclays boosted their target price on shares of PepsiCo from $142.00 to $144.00 and gave the company an “equal weight” rating in a report on Wednesday, December 10th. Loop Capital set a $164.00 price objective on PepsiCo in a research note on Thursday, October 23rd. Jefferies Financial Group raised their target price on PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a research note on Tuesday, December 9th. Bank of America upped their price target on PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Finally, Piper Sandler increased their price target on shares of PepsiCo from $161.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday, December 9th. Ten equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $161.32.

PepsiCo Price Performance

PEP opened at $146.32 on Friday. The firm has a 50-day moving average price of $145.62 and a 200-day moving average price of $144.73. PepsiCo has a twelve month low of $127.60 and a twelve month high of $160.15. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The company has a market capitalization of $200.07 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 4.79 and a beta of 0.42.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 5th were given a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, December 5th. PepsiCo’s dividend payout ratio is 108.17%.

Hedge Funds Weigh In On PepsiCo

A number of hedge funds and other institutional investors have recently bought and sold shares of PEP. JCIC Asset Management Inc. bought a new position in shares of PepsiCo in the third quarter valued at approximately $27,000. Evolution Wealth Management Inc. purchased a new position in PepsiCo in the second quarter worth $27,000. Legend Financial Advisors Inc. bought a new position in PepsiCo in the 2nd quarter valued at $29,000. Imprint Wealth LLC bought a new stake in shares of PepsiCo during the 3rd quarter worth $31,000. Finally, Vermillion & White Wealth Management Group LLC boosted its holdings in shares of PepsiCo by 107.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after buying an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.