Bank of America Trims PepsiCo (NASDAQ:PEP) Target Price to $190.00

PepsiCo (NASDAQ:PEP) had its price target cut by Bank of America from $210.00 to $190.00 in a research report report published on Monday, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued reports about the company. Wedbush reiterated an outperform rating and set a $195.00 target price on shares of PepsiCo in a research report on Tuesday, April 23rd. BNP Paribas began coverage on PepsiCo in a research note on Monday, June 24th. They set a neutral rating and a $174.00 price target for the company. Barclays dropped their price target on PepsiCo from $185.00 to $180.00 and set an overweight rating for the company in a research note on Wednesday, June 12th. Jefferies Financial Group upped their price target on PepsiCo from $209.00 to $211.00 and gave the stock a buy rating in a research note on Thursday, May 16th. Finally, TD Cowen dropped their price target on PepsiCo from $200.00 to $190.00 and set a buy rating for the company in a research note on Wednesday, July 3rd. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $186.00.

PepsiCo Stock Up 1.0 %

Shares of NASDAQ:PEP opened at $163.59 on Monday. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. PepsiCo has a 52-week low of $155.83 and a 52-week high of $192.38. The stock’s fifty day simple moving average is $171.36 and its 200-day simple moving average is $170.03. The company has a market capitalization of $224.90 billion, a P/E ratio of 24.60, a P/E/G ratio of 2.67 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.09. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The business had revenue of $18.25 billion for the quarter, compared to the consensus estimate of $18.08 billion. During the same period in the prior year, the business earned $1.50 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts forecast that PepsiCo will post 8.15 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date was Friday, June 7th. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio (DPR) is currently 81.50%.

Insiders Place Their Bets

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the transaction, the chief executive officer now owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.14% of the stock is currently owned by company insiders.

Institutional Trading of PepsiCo

Several hedge funds have recently made changes to their positions in PEP. Strategy Asset Managers LLC boosted its stake in shares of PepsiCo by 0.9% in the 1st quarter. Strategy Asset Managers LLC now owns 6,632 shares of the company’s stock worth $1,161,000 after buying an additional 57 shares during the last quarter. Amplius Wealth Advisors LLC boosted its stake in shares of PepsiCo by 2.8% in the 4th quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock worth $381,000 after buying an additional 60 shares during the last quarter. Sugarloaf Wealth Management LLC boosted its stake in shares of PepsiCo by 2.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock worth $411,000 after buying an additional 61 shares during the last quarter. SYM FINANCIAL Corp boosted its stake in shares of PepsiCo by 2.7% in the 4th quarter. SYM FINANCIAL Corp now owns 2,290 shares of the company’s stock worth $389,000 after buying an additional 61 shares during the last quarter. Finally, Clearwater Capital Advisors LLC boosted its stake in shares of PepsiCo by 2.3% in the 4th quarter. Clearwater Capital Advisors LLC now owns 2,758 shares of the company’s stock worth $468,000 after buying an additional 61 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

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.