Bank of America Cuts PepsiCo (NASDAQ:PEP) Price Target to $185.00

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

Other research analysts also recently issued reports about the stock. BNP Paribas started coverage on shares of PepsiCo in a research note on Monday, June 24th. They issued a neutral rating and a $174.00 target price on the stock. Wells Fargo & Company lowered their price objective on shares of PepsiCo from $175.00 to $170.00 and set an equal weight rating for the company in a research note on Wednesday, July 10th. Morgan Stanley cut PepsiCo from an overweight rating to an equal weight rating and set a $185.00 target price on the stock. in a research note on Friday, September 20th. Jefferies Financial Group lowered their price target on PepsiCo from $210.00 to $200.00 and set a buy rating for the company in a research report on Tuesday, July 9th. Finally, Barclays lifted their price objective on PepsiCo from $179.00 to $187.00 and gave the stock an overweight rating in a research report on Friday, July 19th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo has a consensus rating of Hold and a consensus price target of $185.43.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $168.53 on Monday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. PepsiCo has a fifty-two week low of $155.83 and a fifty-two week high of $183.41. The stock has a market cap of $231.49 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 2.93 and a beta of 0.53. The stock has a fifty day moving average of $173.90 and a 200-day moving average of $172.13.

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

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were given a dividend of $1.355 per share. The ex-dividend date was Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.22%. PepsiCo’s dividend payout ratio (DPR) is presently 78.66%.

Institutional Trading of PepsiCo

A number of large investors have recently made changes to their positions in PEP. Legal & General Group Plc boosted its position in PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after purchasing an additional 905,468 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of PepsiCo by 7.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after buying an additional 700,092 shares during the last quarter. Dimensional Fund Advisors LP grew its position in PepsiCo by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after buying an additional 561,465 shares during the period. Ameriprise Financial Inc. raised its position in PepsiCo by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after acquiring an additional 57,322 shares during the period. Finally, Flossbach Von Storch AG boosted its stake 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 worth $798,047,000 after acquiring an additional 1,832,385 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

About PepsiCo

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.