PepsiCo’s (PEP) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of PepsiCo (NASDAQ:PEP) in a research report report published on Wednesday,Benzinga reports. The firm currently has a $172.00 price objective on the stock.

Several other equities research analysts also recently issued reports on the stock. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. cut their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a report on Friday, January 24th. Piper Sandler started coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective on the stock. Finally, Wells Fargo & Company cut their target price on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $176.73.

PepsiCo Price Performance

NASDAQ:PEP opened at $150.37 on Wednesday. The stock’s 50-day simple moving average is $153.68 and its 200 day simple moving average is $165.17. PepsiCo has a 52-week low of $141.51 and a 52-week high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The company has a market cap of $206.31 billion, a P/E ratio of 22.18, a P/E/G ratio of 2.86 and a beta of 0.54.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Hedge Funds Weigh In On PepsiCo

A number of institutional investors have recently modified their holdings of PEP. International Assets Investment Management LLC grew its position in PepsiCo by 17,113.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after acquiring an additional 3,201,676 shares during the last quarter. State Street Corp boosted its stake in shares of PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after buying an additional 2,264,445 shares during the period. Swedbank AB raised its holdings in PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after buying an additional 1,592,343 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in PepsiCo by 360.0% during the 4th quarter. Van ECK Associates Corp now owns 1,697,742 shares of the company’s stock worth $258,158,000 after acquiring an additional 1,328,672 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

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.