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PepsiCo, Inc. (NASDAQ:PEP – Get Free Report) shares fell 1.3% during trading on Friday after Bank of America lowered their price target on the stock from $150.00 to $145.00. Bank of America currently has a neutral rating on the stock. PepsiCo traded as low as $134.31 and last traded at $134.35. 1,565,373 shares were traded during trading, a decline of 78% from the average session volume of 7,065,432 shares. The stock had previously closed at $136.08.
Several other analysts have also recently commented on the company. Morgan Stanley dropped their price target on PepsiCo from $168.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, April 25th. Evercore ISI set a $140.00 price target on PepsiCo in a research report on Thursday, April 24th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $148.00 price target on shares of PepsiCo in a research report on Tuesday, June 24th. Dbs Bank cut PepsiCo from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. dropped their price target on PepsiCo from $150.00 to $139.00 and set a “neutral” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $158.19.
Check Out Our Latest Report on PepsiCo
Hedge Funds Weigh In On PepsiCo
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PEP. Brighton Jones LLC lifted its stake in shares of PepsiCo by 12.4% in the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock valued at $9,031,000 after purchasing an additional 6,574 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its stake in shares of PepsiCo by 2.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company’s stock valued at $71,527,000 after purchasing an additional 11,538 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in shares of PepsiCo by 22.7% in the 4th quarter. Proficio Capital Partners LLC now owns 4,449 shares of the company’s stock valued at $677,000 after purchasing an additional 824 shares during the last quarter. Greatmark Investment Partners Inc. lifted its stake in shares of PepsiCo by 21.2% in the 4th quarter. Greatmark Investment Partners Inc. now owns 7,925 shares of the company’s stock valued at $1,205,000 after purchasing an additional 1,384 shares during the last quarter. Finally, Buckley Wealth Management LLC lifted its stake in shares of PepsiCo by 2.2% in the 4th quarter. Buckley Wealth Management LLC now owns 6,077 shares of the company’s stock valued at $924,000 after purchasing an additional 131 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.
PepsiCo Trading Down 0.6%
The company has a 50 day moving average price of $131.49 and a 200 day moving average price of $141.58. The firm has a market cap of $185.45 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 4.23 and a beta of 0.45. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.65 and a current ratio of 0.83.
PepsiCo (NASDAQ:PEP – Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The firm had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period in the previous year, the company posted $1.61 EPS. PepsiCo’s revenue was down 1.8% on a year-over-year basis. On average, research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.
PepsiCo Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were paid a dividend of $1.4225 per share. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date was Friday, June 6th. This represents a $5.69 annualized dividend and a yield of 4.21%. PepsiCo’s dividend payout ratio is presently 83.68%.
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.
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