PepsiCo (NASDAQ:PEP) Price Target Cut to $183.00 by Analysts at Barclays

PepsiCo (NASDAQ:PEP) had its target price reduced by Barclays from $186.00 to $183.00 in a report published on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also weighed in on the stock. TD Cowen lowered shares of PepsiCo from a buy rating to a hold rating and reduced their price target for the stock from $190.00 to $183.00 in a research note on Thursday. Royal Bank of Canada reduced their price target on shares of PepsiCo from $177.00 to $176.00 and set a sector perform rating for the company in a research note on Friday, October 4th. Jefferies Financial Group dropped their target price on shares of PepsiCo from $210.00 to $200.00 and set a buy rating on the stock in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of PepsiCo from $180.00 to $179.00 and set a hold rating on the stock in a report on Wednesday. Finally, Morgan Stanley downgraded shares of PepsiCo from an overweight rating to an equal weight rating and set a $185.00 target price on the stock. in a report on Friday, September 20th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, PepsiCo currently has a consensus rating of Hold and a consensus target price of $184.07.

PepsiCo Stock Up 0.2 %

Shares of PEP traded up $0.33 during midday trading on Thursday, hitting $173.32. The company had a trading volume of 558,605 shares, compared to its average volume of 5,489,351. The company’s 50 day moving average price is $173.59 and its 200 day moving average price is $172.07. The stock has a market cap of $237.79 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 3.11 and a beta of 0.53. PepsiCo has a 52 week low of $157.43 and a 52 week high of $183.41. The company has a quick ratio of 0.64, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

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

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.13%. The ex-dividend date was Friday, September 6th. PepsiCo’s dividend payout ratio is 79.94%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Legal & General Group Plc grew its holdings in PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in PepsiCo by 7.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after buying an additional 700,092 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in PepsiCo by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after buying an additional 561,465 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in PepsiCo by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after buying an additional 57,322 shares in the last quarter. Finally, Flossbach Von Storch AG lifted its stake in PepsiCo by 67.2% in the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after buying an additional 1,832,385 shares in the last quarter. 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.