PepsiCo (NASDAQ:PEP) Given New $150.00 Price Target at Bank of America

PepsiCo (NASDAQ:PEP) had its price objective dropped by equities research analysts at Bank of America from $155.00 to $150.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s price objective indicates a potential upside of 12.46% from the company’s current price.

PEP has been the subject of several other research reports. TD Cowen lowered their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $163.00 price objective on shares of PepsiCo in a report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Evercore ISI set a $140.00 price target on PepsiCo in a research note on Thursday. Finally, Barclays cut PepsiCo from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $168.00 to $156.00 in a research note on Tuesday, March 18th. One equities research 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. Based on data from MarketBeat, PepsiCo has a consensus rating of “Hold” and a consensus price target of $162.00.

PepsiCo Trading Down 1.4 %

Shares of PEP opened at $133.38 on Friday. PepsiCo has a 1-year low of $131.80 and a 1-year high of $183.41. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The firm’s 50-day moving average price is $147.70 and its 200-day moving average price is $153.79. The firm has a market capitalization of $182.91 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 3.09 and a beta of 0.49.

PepsiCo (NASDAQ:PEP) last posted 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). PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. Sell-side analysts anticipate that PepsiCo will post 8.3 EPS for the current year.

Institutional Investors Weigh In On PepsiCo

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ossiam lifted its stake in shares of PepsiCo by 138.9% in the 4th quarter. Ossiam now owns 73,604 shares of the company’s stock worth $11,192,000 after purchasing an additional 42,793 shares during the period. Assenagon Asset Management S.A. raised its position in PepsiCo by 104.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after acquiring an additional 870,451 shares during the period. Hudson Valley Investment Advisors Inc. ADV boosted its stake in shares of PepsiCo by 12.8% during the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after acquiring an additional 4,712 shares during the last quarter. Guinness Asset Management LTD grew its position in shares of PepsiCo by 5.2% during the 4th quarter. Guinness Asset Management LTD now owns 1,236,788 shares of the company’s stock valued at $188,031,000 after acquiring an additional 61,541 shares during the period. Finally, WCM Investment Management LLC increased its stake in shares of PepsiCo by 147.6% in the 4th quarter. WCM Investment Management LLC now owns 14,692 shares of the company’s stock worth $2,229,000 after purchasing an additional 8,759 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

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.