PepsiCo (NASDAQ:PEP) Given New $160.00 Price Target at Citigroup

PepsiCo (NASDAQ:PEP) had its target price lowered by Citigroup from $170.00 to $160.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the company. Morgan Stanley reduced their target price on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Evercore ISI set a $140.00 price objective on shares of PepsiCo in a report on Thursday. Barclays downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $168.00 to $156.00 in a research report on Tuesday, March 18th. Bank of America lowered their price objective on shares of PepsiCo from $155.00 to $150.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average price target of $162.00.

PepsiCo Stock Performance

Shares of PEP opened at $133.38 on Friday. PepsiCo has a 52-week low of $131.80 and a 52-week high of $183.41. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The firm has a market cap of $182.91 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 3.09 and a beta of 0.49. The business’s 50 day moving average is $147.70 and its two-hundred day moving average is $153.92.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.04). The company had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. Analysts forecast that PepsiCo will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were paid a dividend of $1.355 per share. The ex-dividend date was Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 4.06%. PepsiCo’s dividend payout ratio is presently 77.99%.

Hedge Funds Weigh In On PepsiCo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mather Group LLC. lifted its holdings in shares of PepsiCo by 952.8% in the first quarter. Mather Group LLC. now owns 111,732 shares of the company’s stock valued at $16,753,000 after buying an additional 101,119 shares during the period. Alta Advisers Ltd lifted its holdings in PepsiCo by 55.6% in the 1st quarter. Alta Advisers Ltd now owns 6,997 shares of the company’s stock valued at $1,049,000 after acquiring an additional 2,500 shares during the last quarter. Hixon Zuercher LLC boosted its position in shares of PepsiCo by 16.4% during the 1st quarter. Hixon Zuercher LLC now owns 29,969 shares of the company’s stock valued at $4,493,000 after purchasing an additional 4,221 shares in the last quarter. Kennon Green & Company LLC raised its holdings in shares of PepsiCo by 60.6% in the 1st quarter. Kennon Green & Company LLC now owns 20,569 shares of the company’s stock worth $3,084,000 after purchasing an additional 7,761 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators lifted its stake in PepsiCo by 5.4% during the first quarter. Deseret Mutual Benefit Administrators now owns 9,329 shares of the company’s stock valued at $1,399,000 after purchasing an additional 482 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.