PepsiCo (NASDAQ:PEP) Price Target Raised to $184.00

PepsiCo (NASDAQ:PEP) had its target price hoisted by JPMorgan Chase & Co. from $181.00 to $184.00 in a research report report published on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also recently weighed in on the company. Barclays lowered 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. Argus cut PepsiCo from a buy rating to a hold rating in a research note on Wednesday, April 3rd. Jefferies Financial Group lifted 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. Wedbush reaffirmed an outperform rating and set a $195.00 target price on shares of PepsiCo in a research note on Tuesday, April 23rd. Finally, BNP Paribas initiated coverage on PepsiCo in a research note on Monday, June 24th. They set a neutral rating and a $174.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $186.38.

PepsiCo Trading Down 0.8 %

Shares of PEP opened at $164.93 on Wednesday. The business’s 50-day moving average price is $173.37 and its 200 day moving average price is $170.30. The stock has a market capitalization of $226.74 billion, a P/E ratio of 24.80, a P/E/G ratio of 2.74 and a beta of 0.52. PepsiCo has a 1-year low of $155.83 and a 1-year high of $192.38. 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 (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share 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 analysts’ expectations of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. PepsiCo’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $1.50 EPS. Analysts expect that PepsiCo will post 8.16 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were issued a $1.355 dividend. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Friday, June 7th. PepsiCo’s payout ratio is 81.50%.

Insider Buying and Selling

In related 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 completion of the sale, the chief executive officer now directly owns 53,953 shares in the company, valued at approximately $9,603,634. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Cerity Partners LLC increased its position in PepsiCo by 59.4% in the 4th quarter. Cerity Partners LLC now owns 993,567 shares of the company’s stock worth $168,747,000 after buying an additional 370,122 shares during the period. Harbour Capital Advisors LLC increased its position in shares of PepsiCo by 0.4% during the fourth quarter. Harbour Capital Advisors LLC now owns 27,446 shares of the company’s stock valued at $4,747,000 after purchasing an additional 102 shares during the period. Meadow Creek Wealth Advisors LLC bought a new stake in shares of PepsiCo during the fourth quarter valued at approximately $405,000. Householder Group Estate & Retirement Specialist LLC increased its position in shares of PepsiCo by 34.5% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 12,317 shares of the company’s stock valued at $2,091,000 after purchasing an additional 3,159 shares during the period. Finally, Marion Wealth Management increased its position in shares of PepsiCo by 31.7% during the fourth quarter. Marion Wealth Management now owns 7,888 shares of the company’s stock valued at $1,340,000 after purchasing an additional 1,900 shares during the period. 73.07% of the stock is 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.