Deutsche Bank Aktiengesellschaft Lowers PepsiCo (NASDAQ:PEP) Price Target to $178.00

PepsiCo (NASDAQ:PEP) had its price objective trimmed by Deutsche Bank Aktiengesellschaft from $184.00 to $178.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on PEP. Bank of America cut their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Piper Sandler started coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. Wells Fargo & Company lowered their price objective on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. cut their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $177.00.

PepsiCo Stock Performance

NASDAQ PEP opened at $149.12 on Wednesday. PepsiCo has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The firm has a market capitalization of $204.59 billion, a P/E ratio of 21.99, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54. The stock’s fifty day moving average is $154.07 and its two-hundred day moving average is $165.40. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

Hedge Funds Weigh In On PepsiCo

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Global Wealth Strategies & Associates grew its holdings in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in PepsiCo in the third quarter valued at $28,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo during the 3rd quarter worth about $31,000. Mattson Financial Services LLC acquired a new position in shares of PepsiCo during the 2nd quarter worth about $34,000. Finally, Rakuten Securities Inc. increased its holdings in shares of PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after acquiring an additional 96 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

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.