Barclays Increases PepsiCo (NASDAQ:PEP) Price Target to $185.00

PepsiCo (NASDAQ:PEP) had its price objective raised by Barclays from $184.00 to $185.00 in a report published on Thursday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Other analysts have also issued research reports about the stock. Wedbush reaffirmed an outperform rating and set a $195.00 target price on shares of PepsiCo in a report on Tuesday, April 23rd. JPMorgan Chase & Co. increased their target price on PepsiCo from $178.00 to $181.00 and gave the company a neutral rating in a research note on Wednesday, April 24th. Royal Bank of Canada restated a sector perform rating and set a $180.00 target price on shares of PepsiCo in a research report on Monday, February 12th. Deutsche Bank Aktiengesellschaft increased their price target on shares of PepsiCo from $181.00 to $184.00 and gave the company a hold rating in a research report on Friday, February 9th. Finally, Argus downgraded shares of PepsiCo from a buy rating to a hold rating in a research note on Wednesday, April 3rd. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $187.42.

PepsiCo Stock Down 0.6 %

Shares of PEP opened at $175.58 on Thursday. The firm has a market capitalization of $241.39 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 2.86 and a beta of 0.53. PepsiCo has a 52 week low of $155.83 and a 52 week high of $196.88. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. The business’s fifty day moving average price is $169.40 and its two-hundred day moving average price is $167.92.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. The firm had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the company earned $1.50 earnings per share. On average, analysts predict that PepsiCo will post 8.16 earnings per share for the current year.

PepsiCo Dividend Announcement

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

Hedge Funds Weigh In On PepsiCo

Hedge funds have recently made changes to their positions in the business. Weatherly Asset Management L. P. boosted its stake in shares of PepsiCo by 21.8% during the 1st quarter. Weatherly Asset Management L. P. now owns 7,786 shares of the company’s stock worth $1,371,000 after buying an additional 1,393 shares during the last quarter. Tenon Financial LLC bought a new stake in PepsiCo during the first quarter worth about $262,000. Kellett Wealth Advisors LLC grew its stake in PepsiCo by 5.9% in the first quarter. Kellett Wealth Advisors LLC now owns 2,051 shares of the company’s stock valued at $359,000 after purchasing an additional 115 shares in the last quarter. Conning Inc. increased its position in shares of PepsiCo by 16.9% during the 1st quarter. Conning Inc. now owns 236,615 shares of the company’s stock worth $41,331,000 after purchasing an additional 34,276 shares during the last quarter. Finally, Finer Wealth Management Inc. boosted its holdings in shares of PepsiCo by 4.3% in the 1st quarter. Finer Wealth Management Inc. now owns 15,463 shares of the company’s stock valued at $2,706,000 after buying an additional 640 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.