JPMorgan Chase & Co. Trims PepsiCo (NASDAQ:PEP) Target Price to $182.00

PepsiCo (NASDAQ:PEP) had its price objective reduced by JPMorgan Chase & Co. from $184.00 to $182.00 in a research report sent to investors on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

PEP has been the subject of several other research reports. Bank of America dropped their price target on shares of PepsiCo from $210.00 to $190.00 and set a buy rating for the company in a research note on Monday, July 8th. Argus lowered PepsiCo from a buy rating to a hold rating in a research report on Wednesday, April 3rd. Royal Bank of Canada decreased their price target on PepsiCo from $180.00 to $177.00 and set a sector perform rating on the stock in a research note on Friday. Wells Fargo & Company cut their price objective on PepsiCo from $175.00 to $170.00 and set an equal weight rating for the company in a research report on Wednesday, July 10th. Finally, Wedbush reaffirmed an outperform rating and issued a $195.00 target price on shares of PepsiCo in a research report on Tuesday, April 23rd. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $185.27.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $163.86 on Friday. The stock has a market capitalization of $225.07 billion, a P/E ratio of 23.78, a PEG ratio of 2.89 and a beta of 0.52. The business has a 50 day simple moving average of $170.69 and a two-hundred day simple moving average of $169.95. PepsiCo has a 12 month low of $155.83 and a 12 month high of $192.38. 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 issued its earnings results on Thursday, July 11th. The company reported $2.28 EPS 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 57.86%. The business had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. During the same period in the prior year, the business earned $2.09 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. As a group, analysts predict that PepsiCo will post 8.15 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.31%. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date was Friday, June 7th. PepsiCo’s dividend payout ratio is presently 78.66%.

Insider Activity at PepsiCo

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 53,953 shares of the company’s stock, valued at $9,603,634. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.15% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Pavion Blue Capital LLC grew its position in PepsiCo by 1.3% during the second quarter. Pavion Blue Capital LLC now owns 40,938 shares of the company’s stock worth $6,752,000 after buying an additional 530 shares during the period. Walter & Keenan Wealth Management LLC IN ADV boosted its stake in shares of PepsiCo by 1.2% during the 2nd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 18,104 shares of the company’s stock worth $2,986,000 after acquiring an additional 216 shares in the last quarter. Sterling Group Wealth Management LLC acquired a new stake in shares of PepsiCo in the 2nd quarter worth approximately $327,000. FLC Capital Advisors increased its stake in PepsiCo by 3.5% in the 2nd quarter. FLC Capital Advisors now owns 5,092 shares of the company’s stock valued at $840,000 after purchasing an additional 171 shares in the last quarter. Finally, Occidental Asset Management LLC raised its holdings in PepsiCo by 7.4% during the second quarter. Occidental Asset Management LLC now owns 19,511 shares of the company’s stock worth $3,218,000 after purchasing an additional 1,348 shares during the last quarter. Hedge funds and other 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.