PepsiCo (NASDAQ:PEP) Rating Reiterated by Wedbush

Wedbush restated their outperform rating on shares of PepsiCo (NASDAQ:PEPFree Report) in a report issued on Friday morning, Benzinga reports. The brokerage currently has a $195.00 target price on the stock. Wedbush also issued estimates for PepsiCo’s Q1 2024 earnings at $1.59 EPS, Q2 2024 earnings at $2.25 EPS, Q3 2024 earnings at $2.39 EPS and FY2024 earnings at $8.13 EPS.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. downgraded shares of PepsiCo from an overweight rating to a neutral rating and lowered their price target for the company from $185.00 to $176.00 in a report on Tuesday, December 19th. StockNews.com raised shares of PepsiCo from a hold rating to a buy rating in a report on Friday, October 13th. DZ Bank raised shares of PepsiCo from a hold rating to a buy rating and set a $187.00 target price on the stock in a report on Thursday, October 19th. Barclays lowered their target price on shares of PepsiCo from $181.00 to $179.00 and set an overweight rating on the stock in a report on Tuesday, January 16th. Finally, Jefferies Financial Group started coverage on shares of PepsiCo in a report on Monday, November 13th. They issued a buy rating and a $203.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $187.46.

Read Our Latest Stock Report on PepsiCo

PepsiCo Price Performance

PEP stock opened at $170.61 on Friday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.68 and a current ratio of 0.85. PepsiCo has a 52 week low of $155.83 and a 52 week high of $196.88. The firm’s fifty day moving average is $168.55 and its 200 day moving average is $170.91. The firm has a market cap of $234.57 billion, a P/E ratio of 25.97, a P/E/G ratio of 2.50 and a beta of 0.54.

PepsiCo (NASDAQ:PEPGet Free Report) last posted its earnings results on Friday, February 9th. The company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. The firm had revenue of $27.84 billion during the quarter, compared to analysts’ expectations of $28.40 billion. PepsiCo had a net margin of 9.92% and a return on equity of 58.03%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the company posted $1.67 EPS. Research analysts predict that PepsiCo will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 1st will be paid a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Thursday, February 29th. PepsiCo’s dividend payout ratio (DPR) is presently 77.02%.

Hedge Funds Weigh In On PepsiCo

Institutional investors have recently bought and sold shares of the business. Robinson Smith Wealth Advisors LLC purchased a new position in shares of PepsiCo during the 4th quarter valued at approximately $795,000. Alberta Investment Management Corp increased its holdings in shares of PepsiCo by 21.3% during the 4th quarter. Alberta Investment Management Corp now owns 48,525 shares of the company’s stock valued at $8,241,000 after purchasing an additional 8,525 shares in the last quarter. Shepherd Financial Partners LLC increased its holdings in shares of PepsiCo by 1.5% during the 4th quarter. Shepherd Financial Partners LLC now owns 7,315 shares of the company’s stock valued at $1,242,000 after purchasing an additional 108 shares in the last quarter. Warwick Investment Management Inc. grew its stake in PepsiCo by 17.1% in the 4th quarter. Warwick Investment Management Inc. now owns 2,402 shares of the company’s stock valued at $408,000 after acquiring an additional 351 shares during the period. Finally, Adero Partners LLC grew its stake in PepsiCo by 44.3% in the 4th quarter. Adero Partners LLC now owns 2,919 shares of the company’s stock valued at $496,000 after acquiring an additional 896 shares during the period. 71.40% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Company Profile

(Get Free Report)

PepsiCo, Inc manufactures, markets, distributes, and sells 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.

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Analyst Recommendations for PepsiCo (NASDAQ:PEP)

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