PepsiCo (NASDAQ:PEP) Price Target Raised to $168.00

PepsiCo (NASDAQ:PEP - Free Report) had its price objective raised by Citigroup from $160.00 to $168.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms also recently weighed in on PEP. Wells Fargo & Company restated an "equal weight" rating on shares of PepsiCo in a research report on Thursday. Bank of America decreased their target price on PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, July 11th. UBS Group decreased their target price on PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of PepsiCo in a research report on Thursday. Finally, JPMorgan Chase & Co. decreased their target price on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, PepsiCo has an average rating of "Hold" and an average price target of $157.93.

PepsiCo Stock Down 1.5%

Shares of NASDAQ PEP traded down $2.20 during mid-day trading on Friday, reaching $143.24. 13,738,009 shares of the company were exchanged, compared to its average volume of 7,239,591. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. The stock has a market cap of $196.11 billion, a price-to-earnings ratio of 26.09, a P/E/G ratio of 4.38 and a beta of 0.45. PepsiCo has a 1 year low of $127.60 and a 1 year high of $180.91. The firm has a 50-day moving average of $132.23 and a 200 day moving average of $141.11.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. The business had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The company's revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.28 earnings per share. On average, research analysts expect that PepsiCo will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were paid a dividend of $1.4225 per share. The ex-dividend date of this dividend was Friday, June 6th. This is an increase from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a yield of 3.97%. PepsiCo's dividend payout ratio is currently 103.64%.

Hedge Funds Weigh In On PepsiCo

A number of large investors have recently modified their holdings of the business. Nova Wealth Management Inc. acquired a new stake in shares of PepsiCo in the 1st quarter worth approximately $25,000. WealthTrak Capital Management LLC acquired a new stake in shares of PepsiCo in the 4th quarter worth approximately $28,000. Elite Financial Inc. acquired a new stake in shares of PepsiCo in the 1st quarter worth approximately $28,000. Legend Financial Advisors Inc. acquired a new stake in shares of PepsiCo in the 2nd quarter worth approximately $29,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in shares of PepsiCo in the 4th quarter worth approximately $30,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

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.