JPMorgan Chase & Co. Trims PepsiCo (NASDAQ:PEP) Target Price to $183.00

PepsiCo (NASDAQ:PEP) had its price objective reduced by JPMorgan Chase & Co. from $185.00 to $183.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also recently issued research reports about the company. TD Cowen decreased their target price on PepsiCo from $200.00 to $190.00 and set a buy rating for the company in a research report on Wednesday, July 3rd. Royal Bank of Canada lowered their target price on PepsiCo from $177.00 to $176.00 and set a sector perform rating on the stock in a research note on Friday, October 4th. DZ Bank lowered shares of PepsiCo from a buy rating to a hold rating and set a $183.00 price target for the company. in a research report on Friday, July 19th. Barclays lowered their price objective on shares of PepsiCo from $187.00 to $186.00 and set an overweight rating on the stock in a research report on Friday, October 4th. Finally, Jefferies Financial Group decreased their target price on shares of PepsiCo from $210.00 to $200.00 and set a buy rating for the company in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $183.92.

PepsiCo Trading Up 1.1 %

Shares of NASDAQ PEP opened at $174.81 on Wednesday. The business has a fifty day simple moving average of $173.52 and a 200-day simple moving average of $172.08. The company has a market cap of $240.33 billion, a price-to-earnings ratio of 25.37, a P/E/G ratio of 3.11 and a beta of 0.53. PepsiCo has a 12 month low of $157.43 and a 12 month high of $183.41. The company has a quick ratio of 0.64, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. The business had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the firm posted $2.25 earnings per share. Sell-side analysts predict that PepsiCo will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were given a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.10%. PepsiCo’s payout ratio is currently 78.66%.

Hedge Funds Weigh In On PepsiCo

A number of institutional investors have recently modified their holdings of PEP. Global Wealth Strategies & Associates boosted its stake in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the period. Valued Wealth Advisors LLC boosted its position in shares of PepsiCo by 77.5% in the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after acquiring an additional 69 shares during the period. POM Investment Strategies LLC increased its position in PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after acquiring an additional 106 shares during the period. Summit Securities Group LLC acquired a new position in PepsiCo during the 2nd quarter valued at $30,000. Finally, Fortis Group Advisors LLC boosted its holdings in PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after purchasing an additional 97 shares during the period. 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.