JPMorgan Chase & Co. Boosts PepsiCo (NASDAQ:PEP) Price Target to $181.00

PepsiCo (NASDAQ:PEP) had its target price boosted by JPMorgan Chase & Co. from $178.00 to $181.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages also recently issued reports on PEP. Royal Bank of Canada reissued a sector perform rating and set a $180.00 target price on shares of PepsiCo in a research note on Monday, February 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on PepsiCo from $181.00 to $184.00 and gave the stock a hold rating in a research note on Friday, February 9th. Jefferies Financial Group lifted their price objective on PepsiCo from $199.00 to $209.00 and gave the stock a buy rating in a research note on Friday, April 5th. Wedbush reaffirmed an outperform rating and issued a $195.00 price objective on shares of PepsiCo in a research note on Tuesday. Finally, Barclays lifted their price objective on PepsiCo from $183.00 to $184.00 and gave the stock an overweight rating in a research note on Friday, April 12th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $187.42.

PepsiCo Stock Down 0.6 %

Shares of PEP opened at $175.58 on Wednesday. The business’s 50 day moving average is $169.40 and its 200 day moving average is $167.86. The company has a market capitalization of $241.39 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 2.88 and a beta of 0.53. PepsiCo has a 12-month low of $155.83 and a 12-month high of $196.88. 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 (NASDAQ:PEP) last issued its earnings results 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. The company had revenue of $18.25 billion for the quarter, compared to the consensus estimate 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 quarter last year, the company earned $1.50 EPS. Research analysts expect that PepsiCo will post 8.16 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

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

Hedge Funds Weigh In On PepsiCo

A number of large investors have recently bought and sold shares of the business. Strategy Asset Managers LLC boosted its holdings in PepsiCo by 0.9% during the 1st quarter. Strategy Asset Managers LLC now owns 6,632 shares of the company’s stock valued at $1,161,000 after acquiring an additional 57 shares during the period. Amplius Wealth Advisors LLC boosted its holdings in PepsiCo by 2.8% during the 4th quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock valued at $381,000 after acquiring an additional 60 shares during the period. Darwin Wealth Management LLC boosted its holdings in PepsiCo by 2.7% during the 3rd quarter. Darwin Wealth Management LLC now owns 2,345 shares of the company’s stock valued at $397,000 after acquiring an additional 61 shares during the period. Sugarloaf Wealth Management LLC boosted its holdings in PepsiCo by 2.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock valued at $411,000 after acquiring an additional 61 shares during the period. Finally, SYM FINANCIAL Corp lifted its holdings 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 period. Hedge funds and other 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.