PepsiCo (NASDAQ:PEP) Given New $185.00 Price Target at Bank of America

PepsiCo (NASDAQ:PEP) had its price target cut by Bank of America from $190.00 to $185.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $184.00 to $182.00 and set a neutral rating for the company in a research report on Friday, July 12th. StockNews.com lowered shares of PepsiCo from a buy rating to a hold rating in a research report on Friday, September 20th. DZ Bank downgraded shares of PepsiCo from a buy rating to a hold rating and set a $183.00 price objective for the company. in a research report on Friday, July 19th. Jefferies Financial Group decreased their target price on shares of PepsiCo from $210.00 to $200.00 and set a buy rating on the stock in a research note on Tuesday, July 9th. Finally, Royal Bank of Canada cut their price objective on PepsiCo from $180.00 to $177.00 and set a sector perform rating on the stock in a report on Friday, July 12th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, PepsiCo has a consensus rating of Hold and a consensus price target of $185.20.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $170.05 on Monday. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The stock has a market capitalization of $233.58 billion, a price-to-earnings ratio of 24.68, a price-to-earnings-growth ratio of 2.93 and a beta of 0.53. PepsiCo has a twelve month low of $155.83 and a twelve month high of $183.41. The company has a 50-day simple moving average of $173.82 and a two-hundred day simple moving average of $172.12.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. During the same period in the previous year, the business earned $2.09 earnings per share. The firm’s quarterly revenue was up .8% on a year-over-year basis. Analysts forecast that PepsiCo will post 8.14 EPS for the current year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s payout ratio is 78.66%.

Hedge Funds Weigh In On PepsiCo

A number of institutional investors and hedge funds have recently made changes to their positions in PEP. Valued Wealth Advisors LLC raised its holdings in PepsiCo by 77.5% during the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after buying an additional 69 shares during the last quarter. POM Investment Strategies LLC boosted its position in shares of PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of PepsiCo in the 2nd quarter worth $30,000. Fortis Group Advisors LLC grew its position in PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 97 shares in the last quarter. Finally, Mattson Financial Services LLC purchased a new stake in shares of PepsiCo during the second quarter valued at approximately $34,000. Institutional investors 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.