PepsiCo (NASDAQ:PEP) PT Lowered to $185.00 at Bank of America

PepsiCo (NASDAQ:PEP) had its price target reduced by Bank of America from $190.00 to $185.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price points to a potential upside of 7.95% from the company’s previous close.

PEP has been the topic of several other reports. JPMorgan Chase & Co. reduced their price target on PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. TD Cowen decreased their price target on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Jefferies Financial Group dropped their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Barclays lifted their target price on shares of PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research note on Friday, September 20th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $185.40.

PepsiCo Stock Performance

NASDAQ:PEP opened at $171.38 on Monday. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. PepsiCo has a twelve month low of $155.83 and a twelve month high of $183.41. The stock has a market cap of $235.61 billion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 2.93 and a beta of 0.53. The firm’s fifty day simple moving average is $173.92 and its 200 day simple moving average is $172.17.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. PepsiCo’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.09 earnings per share. As a group, research analysts predict that PepsiCo will post 8.14 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. Global Wealth Strategies & Associates increased its position in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Valued Wealth Advisors LLC raised its position in PepsiCo by 77.5% in the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after acquiring an additional 69 shares during the period. POM Investment Strategies LLC grew its position in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares during the period. Summit Securities Group LLC purchased a new stake in shares of PepsiCo in the 2nd quarter worth $30,000. Finally, Fortis Group Advisors LLC raised its holdings in PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 97 shares during the period. Hedge funds and other 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.