PepsiCo (NASDAQ:PEP) Raised to Outperform at Royal Bank of Canada
Royal Bank of Canada upgraded shares of PepsiCo (NASDAQ:PEP) from a sector perform rating to an outperform rating in a research report released on Monday, The Fly reports. The brokerage currently has $153.00 price objective on the stock, up from their previous price objective of $115.00.
A number of other analysts have also recently weighed in on the stock. SunTrust Banks upped their target price on shares of PepsiCo to and gave the company a hold rating in a research note on Friday, February 14th. Morgan Stanley raised shares of PepsiCo from an equal weight rating to an overweight rating and lowered their target price for the company from $145.00 to $132.00 in a research note on Sunday. Deutsche Bank lowered their target price on shares of PepsiCo from $145.00 to $143.00 and set a hold rating on the stock in a research note on Thursday, March 12th. BidaskClub raised shares of PepsiCo from a buy rating to a strong-buy rating in a research note on Friday, March 6th. Finally, Evercore ISI raised shares of PepsiCo from an in-line rating to an outperform rating and set a $130.00 target price on the stock in a research note on Tuesday, March 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $139.20.
Shares of PEP opened at $112.69 on Monday. The company has a 50-day simple moving average of $134.79 and a 200-day simple moving average of $136.35. The firm has a market capitalization of $158.19 billion, a P/E ratio of 21.71, a P/E/G ratio of 3.05 and a beta of 0.55. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.86. PepsiCo has a 52 week low of $101.42 and a 52 week high of $147.20.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a dividend of $0.955 per share. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $3.82 annualized dividend and a yield of 3.39%. PepsiCo’s dividend payout ratio is 69.08%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PEP. PSI Advisors LLC acquired a new position in PepsiCo in the fourth quarter valued at approximately $25,000. Evolution Wealth Advisors LLC lifted its holdings in PepsiCo by 221.0% in the fourth quarter. Evolution Wealth Advisors LLC now owns 199 shares of the company’s stock valued at $27,000 after buying an additional 137 shares during the period. Beutel Goodman & Co Ltd. acquired a new position in PepsiCo in the fourth quarter valued at approximately $27,000. Permanens Capital L.P. lifted its holdings in PepsiCo by 511.4% in the fourth quarter. Permanens Capital L.P. now owns 269 shares of the company’s stock valued at $37,000 after buying an additional 225 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new position in PepsiCo in the fourth quarter valued at approximately $40,000. 71.73% of the stock is currently owned by institutional investors and hedge funds.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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