PepsiCo (NASDAQ:PEP) Price Target Raised to $185.00

PepsiCo (NASDAQ:PEP) had its target price increased by Barclays from $184.00 to $185.00 in a report published on Thursday, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research firms also recently commented on PEP. Deutsche Bank Aktiengesellschaft raised their price objective on PepsiCo from $181.00 to $184.00 and gave the stock a hold rating in a report on Friday, February 9th. Wedbush restated an outperform rating and issued a $195.00 price objective on shares of PepsiCo in a report on Tuesday, April 23rd. JPMorgan Chase & Co. raised their price objective on PepsiCo from $178.00 to $181.00 and gave the stock a neutral rating in a report on Wednesday. StockNews.com downgraded PepsiCo from a buy rating to a hold rating in a report on Monday, February 12th. Finally, Jefferies Financial Group raised their target price on PepsiCo from $199.00 to $209.00 and gave the company a buy rating in a report on Friday, April 5th. Six 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, the stock presently has an average rating of Moderate Buy and a consensus price target of $187.42.

PepsiCo Stock Down 0.6 %

Shares of NASDAQ:PEP opened at $175.58 on Thursday. The stock’s 50-day moving average price is $169.40 and its two-hundred day moving average price is $167.88. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. PepsiCo has a 12-month low of $155.83 and a 12-month high of $196.88. The firm has a market cap of $241.39 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 2.86 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. The firm had revenue of $18.25 billion for the quarter, compared to analyst estimates of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the company earned $1.50 EPS. On average, research analysts forecast that PepsiCo will post 8.16 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a dividend of $1.265 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $5.06 annualized dividend and a yield of 2.88%. PepsiCo’s dividend payout ratio is presently 76.09%.

Institutional Investors Weigh In On PepsiCo

Hedge funds and other institutional investors have recently bought and sold shares of the business. Weatherly Asset Management L. P. increased its holdings in shares of PepsiCo by 21.8% in the 1st quarter. Weatherly Asset Management L. P. now owns 7,786 shares of the company’s stock valued at $1,371,000 after acquiring an additional 1,393 shares during the last quarter. Tenon Financial LLC acquired a new stake in shares of PepsiCo during the first quarter worth $262,000. Kellett Wealth Advisors LLC raised its holdings in shares of PepsiCo by 5.9% during the first quarter. Kellett Wealth Advisors LLC now owns 2,051 shares of the company’s stock worth $359,000 after purchasing an additional 115 shares during the period. Conning Inc. increased its holdings in shares of PepsiCo by 16.9% in the 1st quarter. Conning Inc. now owns 236,615 shares of the company’s stock worth $41,331,000 after acquiring an additional 34,276 shares during the period. Finally, Finer Wealth Management Inc. increased its holdings in shares of PepsiCo by 4.3% in the 1st quarter. Finer Wealth Management Inc. now owns 15,463 shares of the company’s stock worth $2,706,000 after acquiring an additional 640 shares during the period. 73.07% of the stock is currently owned by hedge funds and other 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.