PepsiCo’s (PEP) “Market Perform” Rating Reaffirmed at CICC Research

CICC Research restated their market perform rating on shares of PepsiCo (NASDAQ:PEP) in a report released on Friday,Benzinga reports.

Several other analysts have also recently weighed in on the stock. Citigroup dropped their price target on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reduced their target price on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Royal Bank of Canada started coverage on shares of PepsiCo in a report on Tuesday. They issued a $172.00 price objective on the stock. BNP Paribas dropped their price target on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, UBS Group dropped their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $171.47.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $144.58 on Friday. The business’s 50 day moving average price is $151.80 and its 200-day moving average price is $164.26. PepsiCo has a 1 year low of $141.51 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.70. The firm has a market capitalization of $198.29 billion, a PE ratio of 20.80, a P/E/G ratio of 2.89 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the firm posted $1.78 earnings per share. As a group, equities research analysts expect that PepsiCo will post 8.34 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.75%. PepsiCo’s payout ratio is currently 77.99%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC grew its holdings in shares of PepsiCo by 3.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 213,908 shares of the company’s stock worth $32,527,000 after buying an additional 7,959 shares during the last quarter. Windle Wealth LLC boosted its position in shares of PepsiCo by 9.1% in the 4th quarter. Windle Wealth LLC now owns 41,942 shares of the company’s stock worth $6,378,000 after buying an additional 3,484 shares in the last quarter. Natural Investments LLC purchased a new position in PepsiCo during the 4th quarter valued at about $2,003,000. Fairway Wealth LLC purchased a new position in shares of PepsiCo during the 4th quarter worth approximately $69,000. Finally, GC Wealth Management RIA LLC raised its position in shares of PepsiCo by 23.3% during the 4th quarter. GC Wealth Management RIA LLC now owns 16,312 shares of the company’s stock worth $2,480,000 after purchasing an additional 3,084 shares during 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.