PepsiCo (NASDAQ:PEP) Price Target Increased to $185.00 by Analysts at JPMorgan Chase & Co.

PepsiCo (NASDAQ:PEP) had its price objective lifted by JPMorgan Chase & Co. from $182.00 to $185.00 in a research report sent to investors on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other research analysts also recently issued reports on the company. 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 note on Wednesday, July 10th. TD Cowen decreased their price objective on shares of PepsiCo from $200.00 to $190.00 and set a buy rating on the stock in a research report on Wednesday, July 3rd. Morgan Stanley downgraded shares of PepsiCo from an overweight rating to an equal weight rating and set a $185.00 target price for the company. in a report on Friday, September 20th. Bank of America lowered their price objective on PepsiCo from $190.00 to $185.00 and set a buy rating on the stock in a research report on Monday. Finally, Royal Bank of Canada cut their target price on PepsiCo from $180.00 to $177.00 and set a sector perform rating for the company in a research report on Friday, July 12th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $185.43.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $168.53 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The stock has a market capitalization 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 firm’s 50 day moving average price is $173.90 and its 200-day moving average price is $172.13. PepsiCo has a twelve month low of $155.83 and a twelve month high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.16 by $0.12. The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. PepsiCo’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $2.09 EPS. Equities research analysts expect that PepsiCo will post 8.14 EPS for the current year.

PepsiCo Announces Dividend

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

Institutional Investors Weigh In On PepsiCo

Several large investors have recently added to or reduced their stakes in PEP. Rockland Trust Co. boosted its holdings in shares of PepsiCo by 16.5% in the 3rd quarter. Rockland Trust Co. now owns 266,944 shares of the company’s stock worth $45,394,000 after purchasing an additional 37,717 shares during the period. Duncan Williams Asset Management LLC increased its position in PepsiCo by 25.8% during the third quarter. Duncan Williams Asset Management LLC now owns 4,922 shares of the company’s stock valued at $837,000 after acquiring an additional 1,010 shares during the last quarter. Abacus Wealth Partners LLC lifted its holdings in shares of PepsiCo by 46.6% in the 3rd quarter. Abacus Wealth Partners LLC now owns 2,276 shares of the company’s stock worth $387,000 after acquiring an additional 723 shares during the last quarter. Apella Capital LLC boosted its stake in shares of PepsiCo by 2.4% during the 3rd quarter. Apella Capital LLC now owns 9,884 shares of the company’s stock worth $1,676,000 after purchasing an additional 227 shares during the period. Finally, Alpha Omega Wealth Management LLC grew its holdings in PepsiCo by 0.6% during the 3rd quarter. Alpha Omega Wealth Management LLC now owns 17,459 shares of the company’s stock valued at $2,969,000 after purchasing an additional 103 shares during the last quarter. 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.