Bank of America Lowers PepsiCo (NASDAQ:PEP) Price Target to $150.00

PepsiCo (NASDAQ:PEP - Get Free Report) had its price target decreased by stock analysts at Bank of America from $155.00 to $150.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Bank of America's target price points to a potential upside of 11.70% from the company's previous close.

A number of other equities analysts also recently issued reports on the company. Royal Bank of Canada reissued a "sector perform" rating and set a $163.00 target price on shares of PepsiCo in a research note on Tuesday, April 22nd. Evercore ISI set a $140.00 target price on PepsiCo in a report on Thursday. Wells Fargo & Company cut their price target on shares of PepsiCo from $155.00 to $150.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. Citigroup decreased their price objective on shares of PepsiCo from $195.00 to $170.00 and set a "buy" rating on the stock in a report on Wednesday, February 5th. Finally, UBS Group decreased their price target on PepsiCo from $193.00 to $175.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, PepsiCo presently has an average rating of "Hold" and a consensus target price of $160.69.

PepsiCo Stock Performance

PEP traded up $0.53 during trading on Friday, hitting $134.29. 3,480,852 shares of the stock were exchanged, compared to its average volume of 6,151,966. The firm has a market capitalization of $184.15 billion, a P/E ratio of 19.33, a PEG ratio of 3.09 and a beta of 0.49. PepsiCo has a 1-year low of $131.61 and a 1-year high of $183.41. The stock has a fifty day moving average price of $147.46 and a two-hundred day moving average price of $153.37. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the prior year, the company earned $1.61 EPS. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. As a group, sell-side analysts predict that PepsiCo will post 8.3 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of PepsiCo in the fourth quarter valued at $2,729,565,000. GAMMA Investing LLC lifted its stake in shares of PepsiCo by 19,106.5% in the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock worth $688,017,000 after acquiring an additional 4,564,723 shares in the last quarter. Raymond James Financial Inc. purchased a new position in PepsiCo in the fourth quarter valued at about $589,307,000. Charles Schwab Investment Management Inc. grew its stake in PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock valued at $3,834,504,000 after purchasing an additional 3,856,193 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company's stock valued at $2,293,049,000 after purchasing an additional 2,264,445 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

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.