PepsiCo (NASDAQ:PEP) Price Target Cut to $190.00 by Analysts at Bank of America

PepsiCo (NASDAQ:PEP) had its target price lowered by Bank of America from $210.00 to $190.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also recently weighed in on PEP. Argus cut shares of PepsiCo from a buy rating to a hold rating in a report on Wednesday, April 3rd. TD Cowen reduced their target price on PepsiCo from $200.00 to $190.00 and set a buy rating on the stock in a research note on Wednesday, July 3rd. Jefferies Financial Group increased their target price on PepsiCo from $209.00 to $211.00 and gave the company a buy rating in a research note on Thursday, May 16th. Barclays reduced their target price on PepsiCo from $185.00 to $180.00 and set an overweight rating on the stock in a research note on Wednesday, June 12th. Finally, JPMorgan Chase & Co. increased their target price on PepsiCo from $181.00 to $184.00 and gave the company a neutral rating in a research note on Wednesday, June 26th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $186.00.

PepsiCo Trading Up 0.2 %

NASDAQ:PEP opened at $163.95 on Monday. The company has a market cap of $225.40 billion, a P/E ratio of 24.65, a P/E/G ratio of 2.67 and a beta of 0.52. PepsiCo has a 1 year low of $155.83 and a 1 year high of $192.38. The stock’s fifty day moving average price is $171.12 and its two-hundred day moving average price is $169.99. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.12. The firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.09 earnings per share. As a group, analysts expect that PepsiCo will post 8.15 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were paid a $1.355 dividend. The ex-dividend date of this dividend was Friday, June 7th. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a dividend yield of 3.31%. PepsiCo’s dividend payout ratio (DPR) is presently 81.50%.

Insider Buying and Selling

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $178.00, for a total value of $1,000,360.00. Following the sale, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at $9,603,634. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by insiders.

Institutional Trading of PepsiCo

Several large investors have recently bought and sold shares of PEP. Norges Bank purchased a new position in PepsiCo in the 4th quarter worth approximately $2,686,139,000. International Assets Investment Management LLC grew its position in shares of PepsiCo by 9,623.6% during the 4th quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock valued at $519,381,000 after acquiring an additional 3,026,611 shares during the period. Flossbach Von Storch AG grew its position in shares of PepsiCo by 67.2% during the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after acquiring an additional 1,832,385 shares during the period. California Public Employees Retirement System boosted its holdings in PepsiCo by 17.9% in the 4th quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after buying an additional 1,470,064 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in PepsiCo by 17.7% in the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after buying an additional 1,345,065 shares during the period. 73.07% of the stock is owned by institutional investors.

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.