PepsiCo (NASDAQ:PEP) Price Target Cut to $183.00 by Analysts at BNP Paribas Exane

PepsiCo (NASDAQ:PEP) had its target price lowered by BNP Paribas Exane from $195.00 to $183.00 in a research report released on Wednesday, MarketBeat Ratings reports. The firm currently has an outperform rating on the stock.

PEP has been the topic of a number of other reports. Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a research report on Monday. Rothschild & Co Redburn raised their price objective on shares of PepsiCo from $130.00 to $132.00 in a research note on Monday, May 11th. Sanford C. Bernstein set a $142.00 target price on PepsiCo and gave the stock a “market perform” rating in a report on Wednesday, July 1st. JPMorgan Chase & Co. decreased their price target on PepsiCo from $178.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. Finally, Piper Sandler dropped their price objective on PepsiCo from $181.00 to $178.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. Eight investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $164.40.

PepsiCo Trading Down 1.7%

PepsiCo stock opened at $142.51 on Wednesday. PepsiCo has a 1 year low of $132.96 and a 1 year high of $171.48. The firm’s 50-day moving average is $146.14 and its 200-day moving average is $151.63. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.72 and a current ratio of 0.90. The company has a market cap of $194.78 billion, a P/E ratio of 22.37, a PEG ratio of 2.92 and a beta of 0.36.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Wednesday, April 15th. The company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.06. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The business had revenue of $19.44 billion during the quarter, compared to analyst estimates of $18.89 billion. During the same quarter in the previous year, the firm posted $1.48 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities analysts expect that PepsiCo will post 8.62 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th were issued a dividend of $1.48 per share. The ex-dividend date was Friday, June 5th. This represents a $5.92 annualized dividend and a dividend yield of 4.2%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s dividend payout ratio is presently 92.94%.

Hedge Funds Weigh In On PepsiCo

Several hedge funds have recently bought and sold shares of the business. Captrust Financial Advisors grew its position in shares of PepsiCo by 3.6% during the 3rd quarter. Captrust Financial Advisors now owns 554,798 shares of the company’s stock worth $77,916,000 after buying an additional 19,218 shares during the period. Swiss Life Asset Management Ltd lifted its holdings in PepsiCo by 11.4% in the fourth quarter. Swiss Life Asset Management Ltd now owns 415,271 shares of the company’s stock valued at $59,600,000 after buying an additional 42,335 shares during the period. Murphy Middleton Hinkle & Parker Inc. boosted its stake in PepsiCo by 622.3% in the fourth quarter. Murphy Middleton Hinkle & Parker Inc. now owns 35,603 shares of the company’s stock valued at $5,110,000 after acquiring an additional 30,674 shares during the last quarter. Allstate Corp grew its holdings in PepsiCo by 108.1% during the 4th quarter. Allstate Corp now owns 104,723 shares of the company’s stock worth $15,030,000 after acquiring an additional 54,405 shares during the period. Finally, National Pension Service raised its position in shares of PepsiCo by 2.5% during the 4th quarter. National Pension Service now owns 3,143,939 shares of the company’s stock valued at $451,218,000 after acquiring an additional 77,051 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Key PepsiCo News

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: Investors are betting PepsiCo’s turnaround is holding, with recent commentary pointing to better North American snack demand and improving volume trends after price resets and product innovation. PepsiCo Rises Ahead of Q2 Results as Investors Bet Turnaround Gains Are Holding
• Positive Sentiment: Several market previews suggest PepsiCo could post higher second-quarter sales, which would support the idea that its restructuring and growth initiatives are beginning to work. PepsiCo Projected to Post Higher 2Q Sales Despite Rocky Turnaround — Earnings Preview
• Positive Sentiment: Analysts and commentators continue to describe PEP as attractive ahead of earnings, with implied post-earnings volatility indicating traders expect a meaningful move if results surprise. PepsiCo Stock Could Swing 4.16% After Earnings on Thursday
• Positive Sentiment: BNP Paribas Exane still rates PepsiCo “outperform” even after trimming its price target to $183, implying upside from current levels. Benzinga report on BNP Paribas Exane target cut
• Neutral Sentiment: PepsiCo unveiled a whole grain oat-based shake and is trying again with Quaker drinks in the U.S., signaling ongoing product innovation but with unclear near-term financial impact. PepsiCo unveils whole grain oat-based shake
• Negative Sentiment: Some analysts have recently trimmed price targets, and PepsiCo remains under pressure to prove its turnaround can offset softer U.S. sales and broader consumer-staples caution. PepsiCo (PEP) Price Target Trimmed at JP Morgan. Here is Why

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.