PepsiCo (NASDAQ:PEP) Price Target Raised to $164.00

PepsiCo (NASDAQ:PEP) had its target price boosted by Jefferies Financial Group from $163.00 to $164.00 in a report published on Tuesday morning,MarketScreener reports. The brokerage currently has a hold rating on the stock.

Several other brokerages also recently commented on PEP. BNP Paribas Exane reduced their target price on PepsiCo from $152.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Loop Capital set a $164.00 price objective on shares of PepsiCo in a research report on Thursday, October 23rd. Barclays increased their price objective on shares of PepsiCo from $140.00 to $142.00 and gave the company an “equal weight” rating in a research report on Friday, October 10th. Royal Bank Of Canada reduced their target price on shares of PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a report on Monday, September 15th. Finally, HSBC increased their price target on shares of PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a report on Friday, October 10th. Eight research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, PepsiCo currently has an average rating of “Hold” and an average price target of $158.35.

PepsiCo Stock Performance

Shares of PEP opened at $149.04 on Tuesday. The company has a market cap of $203.79 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 5.12 and a beta of 0.42. The firm has a 50-day moving average of $147.12 and a 200-day moving average of $142.07. PepsiCo has a one year low of $127.60 and a one year high of $160.15. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The business had revenue of $23.94 billion during the quarter, compared to the consensus estimate of $23.91 billion. During the same period last year, the business posted $2.31 EPS. PepsiCo’s revenue was up 2.7% on a year-over-year basis. As a group, equities analysts forecast that PepsiCo will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be given a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, December 5th. PepsiCo’s payout ratio is presently 108.17%.

Hedge Funds Weigh In On PepsiCo

Hedge funds have recently added to or reduced their stakes in the stock. Claris Advisors LLC MO lifted its holdings in shares of PepsiCo by 14.1% during the 2nd quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock worth $329,000 after acquiring an additional 308 shares during the period. Foster Group Inc. lifted its stake in PepsiCo by 4.6% during the second quarter. Foster Group Inc. now owns 5,169 shares of the company’s stock worth $683,000 after purchasing an additional 229 shares during the last quarter. Merit Financial Group LLC boosted its holdings in shares of PepsiCo by 46.4% in the 2nd quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock valued at $15,098,000 after purchasing an additional 36,239 shares in the last quarter. Fulton Bank N.A. increased its stake in shares of PepsiCo by 2.5% in the 2nd quarter. Fulton Bank N.A. now owns 25,309 shares of the company’s stock valued at $3,342,000 after purchasing an additional 620 shares during the last quarter. Finally, Naples Global Advisors LLC raised its holdings in shares of PepsiCo by 2.3% during the 2nd quarter. Naples Global Advisors LLC now owns 26,270 shares of the company’s stock worth $3,469,000 after buying an additional 592 shares in the last quarter. Institutional investors 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.