PepsiCo (NASDAQ:PEP) Cut to Hold at TD Cowen

TD Cowen cut shares of PepsiCo (NASDAQ:PEP) from a buy rating to a hold rating in a research note published on Thursday, Marketbeat reports. They currently have $183.00 price target on the stock, down from their prior price target of $190.00.

PEP has been the topic of a number of other reports. BNP Paribas initiated coverage on PepsiCo in a research report on Monday, June 24th. They set a neutral rating and a $174.00 target price on the stock. Royal Bank of Canada reduced their price objective on PepsiCo from $177.00 to $176.00 and set a sector perform rating for the company in a research note on Friday, October 4th. Wells Fargo & Company dropped their price target on PepsiCo from $175.00 to $170.00 and set an equal weight rating on the stock in a research report on Wednesday, July 10th. DZ Bank cut PepsiCo from a buy rating to a hold rating and set a $183.00 price target on the stock. in a research report on Friday, July 19th. Finally, Barclays dropped their price objective on PepsiCo from $187.00 to $186.00 and set an overweight rating on the stock in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo presently has a consensus rating of Hold and an average target price of $183.92.

PepsiCo Price Performance

PepsiCo stock opened at $174.81 on Thursday. The stock’s 50 day moving average is $173.52 and its 200 day moving average is $172.08. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.64. The firm has a market cap of $240.33 billion, a P/E ratio of 25.37, a P/E/G ratio of 3.11 and a beta of 0.53. PepsiCo has a one year low of $157.43 and a one year high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (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 firm had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same period in the previous year, the firm earned $2.25 earnings per share. The company’s revenue was down .6% compared to the same quarter last year. As a group, research analysts expect that PepsiCo will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were given a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.10%. PepsiCo’s payout ratio is 78.66%.

Hedge Funds Weigh In On PepsiCo

Institutional investors and hedge funds have recently bought and sold shares of the stock. Valued Wealth Advisors LLC grew its position in shares of PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after buying an additional 69 shares during the last quarter. 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 valued at $27,000 after buying an additional 59 shares during the last quarter. POM Investment Strategies LLC raised its stake in PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC purchased a new position in PepsiCo during the second quarter valued at $30,000. Finally, Fortis Group Advisors LLC raised its stake in PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after buying an additional 97 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Company Profile

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.