PepsiCo’s (PEP) Market Perform Rating Reiterated at CICC Research

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

Several other research analysts have also recently weighed in on the stock. Evercore ISI decreased their price objective on shares of PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. Citigroup decreased their price objective on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. BNP Paribas decreased their price objective on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company reduced their price target on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $171.47.

PepsiCo Price Performance

NASDAQ PEP opened at $144.58 on Friday. The company has a market cap of $198.29 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. PepsiCo has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The firm’s 50-day simple moving average is $151.42 and its two-hundred day simple moving average is $164.09.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share 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 firm had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. During the same period in the prior year, the business posted $1.78 earnings per share. The company’s revenue was down .2% on a year-over-year basis. Research analysts predict that PepsiCo will post 8.34 earnings per share for the current year.

PepsiCo Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PEP. Highline Wealth Partners LLC bought a new position in shares of PepsiCo during the 3rd quarter valued at approximately $28,000. Collier Financial bought a new position in PepsiCo in the 4th quarter worth approximately $28,000. Creative Capital Management Investments LLC bought a new position in PepsiCo in the 4th quarter worth approximately $30,000. Legacy Investment Solutions LLC bought a new position in PepsiCo in the 3rd quarter worth approximately $31,000. Finally, Rakuten Securities Inc. boosted its stake in PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares during the period. 73.07% of the stock is currently owned by 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.