PepsiCo (NASDAQ:PEP) Given Market Perform Rating at CICC Research

CICC Research reissued their market perform rating on shares of PepsiCo (NASDAQ:PEP) in a research note published on Friday morning,Benzinga reports.

Other research analysts have also issued reports about the company. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday. Wells Fargo & Company dropped their target price on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday. Piper Sandler assumed coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. Evercore ISI cut their target price on shares of PepsiCo from $180.00 to $160.00 in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $171.47.

PepsiCo Stock Down 0.5 %

PEP stock opened at $144.58 on Friday. PepsiCo has a one year low of $141.51 and a one year high of $183.41. The stock has a market capitalization of $198.29 billion, a P/E ratio of 20.80, a PEG ratio of 2.89 and a beta of 0.54. The company has a 50 day moving average price of $151.80 and a two-hundred day moving average price of $164.26. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.70 and a current ratio of 0.82.

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

PepsiCo Announces Dividend

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

Hedge Funds Weigh In On PepsiCo

Hedge funds have recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after purchasing an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC increased its position in PepsiCo by 1.8% in the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after buying an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in PepsiCo by 18.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after buying an additional 3,856,193 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of PepsiCo by 5.2% during the fourth quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company’s stock valued at $2,130,841,000 after acquiring an additional 689,383 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares during the period. 73.07% of the stock is currently 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.