PepsiCo (NASDAQ:PEP) Now Covered by Analysts at Piper Sandler

Piper Sandler initiated coverage on shares of PepsiCo (NASDAQ:PEP) in a research note released on Tuesday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $171.00 target price on the stock.

Other equities analysts have also recently issued research reports about the company. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and decreased their price target for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. JPMorgan Chase & Co. decreased their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Bank of America dropped their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft raised shares of PepsiCo from a “hold” rating to a “buy” rating and upped their price objective for the company from $179.00 to $184.00 in a research report on Thursday, December 12th. Finally, Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo currently has an average rating of “Hold” and an average target price of $182.29.

PepsiCo Stock Performance

Shares of PEP stock opened at $145.40 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. The company has a market cap of $199.49 billion, a PE ratio of 21.45, a P/E/G ratio of 2.94 and a beta of 0.54. The company’s fifty day simple moving average is $158.60 and its 200-day simple moving average is $166.97. PepsiCo has a 52 week low of $145.34 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data 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 company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same period last year, the company posted $2.25 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. As a group, equities research analysts anticipate that PepsiCo will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

Institutional Trading of PepsiCo

Institutional investors and hedge funds have recently modified their holdings of the business. Global Wealth Strategies & Associates raised its stake in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the period. Cross Staff Investments Inc grew its holdings in shares of PepsiCo by 0.9% during the third quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock valued at $1,204,000 after purchasing an additional 60 shares during the last quarter. Paulson Wealth Management Inc. lifted its holdings in shares of PepsiCo by 2.1% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock worth $508,000 after purchasing an additional 60 shares during the last quarter. LCM Capital Management Inc boosted its position in PepsiCo by 0.8% during the 3rd quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock valued at $1,288,000 after purchasing an additional 62 shares during the period. Finally, Demars Financial Group LLC grew its stake in PepsiCo by 1.1% during the 3rd quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock worth $973,000 after buying an additional 62 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

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.