PepsiCo (NASDAQ:PEP) Price Target Raised to $160.00

PepsiCo (NASDAQ:PEP) had its price objective raised by Cfra from $150.00 to $160.00 in a report released on Thursday morning, BenzingaRatingsTable reports. Cfra currently has a buy rating on the stock.

A number of other research firms also recently commented on PEP. Morgan Stanley downgraded shares of PepsiCo from an overweight rating to an equal weight rating in a research report on Monday, December 16th. Evercore ISI reissued a hold rating on shares of PepsiCo in a research report on Sunday, December 15th. Finally, BidaskClub raised shares of PepsiCo from a hold rating to a buy rating in a research report on Saturday, January 25th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company’s stock. PepsiCo currently has a consensus rating of Hold and a consensus target price of $137.45.

Shares of PEP traded up $0.52 during midday trading on Thursday, reaching $146.99. The stock had a trading volume of 3,555,738 shares, compared to its average volume of 4,124,524. PepsiCo has a 1-year low of $114.11 and a 1-year high of $147.15. The company’s fifty day simple moving average is $140.04 and its two-hundred day simple moving average is $136.11. The company has a market cap of $203.11 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 3.51 and a beta of 0.53. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.95 and a quick ratio of 0.77.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.01. PepsiCo had a net margin of 18.78% and a return on equity of 55.00%. The business had revenue of $20.64 billion for the quarter, compared to analyst estimates of $20.24 billion. During the same period last year, the business earned $1.49 EPS. The company’s revenue was up 5.7% on a year-over-year basis. On average, sell-side analysts forecast that PepsiCo will post 5.51 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be paid a $0.955 dividend. This represents a $3.82 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, March 5th. PepsiCo’s dividend payout ratio (DPR) is 67.49%.

Several hedge funds and other institutional investors have recently made changes to their positions in PEP. PSI Advisors LLC acquired a new position in PepsiCo during the fourth quarter worth about $25,000. Evolution Wealth Advisors LLC raised its holdings in PepsiCo by 221.0% in the fourth quarter. Evolution Wealth Advisors LLC now owns 199 shares of the company’s stock valued at $27,000 after acquiring an additional 137 shares in the last quarter. Vista Private Wealth Partners. LLC acquired a new stake in PepsiCo in the third quarter valued at $36,000. Permanens Capital L.P. raised its holdings in PepsiCo by 511.4% in the fourth quarter. Permanens Capital L.P. now owns 269 shares of the company’s stock valued at $37,000 after acquiring an additional 225 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in PepsiCo in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 71.35% of the company’s stock.

PepsiCo Company Profile

PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.

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Analyst Recommendations for PepsiCo (NASDAQ:PEP)

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