Bank of America Has Lowered Expectations for PepsiCo (NASDAQ:PEP) Stock Price

PepsiCo (NASDAQ:PEP - Get Free Report) had its price objective dropped by investment analysts at Bank of America from $155.00 to $150.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Bank of America's target price would indicate a potential upside of 12.46% from the stock's previous close.

A number of other brokerages have also commented on PEP. HSBC decreased their price objective on PepsiCo from $186.00 to $170.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $163.00 price target on shares of PepsiCo in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on PepsiCo from $158.00 to $159.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of PepsiCo from $184.00 to $178.00 and set a "buy" rating on the stock in a research note on Wednesday, January 22nd. Finally, Morgan Stanley cut their target price on PepsiCo from $185.00 to $168.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $162.00.

PepsiCo Price Performance

Shares of NASDAQ:PEP traded down $1.93 during midday trading on Friday, reaching $133.38. The company's stock had a trading volume of 11,537,466 shares, compared to its average volume of 6,152,649. The business's fifty day simple moving average is $147.70 and its 200-day simple moving average is $153.79. The company has a market capitalization of $182.91 billion, a P/E ratio of 19.19, a P/E/G ratio of 3.09 and a beta of 0.49. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. PepsiCo has a fifty-two week low of $131.80 and a fifty-two week high of $183.41.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.52 by ($0.04). PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. As a group, equities research analysts expect that PepsiCo will post 8.3 EPS for the current fiscal year.

Hedge Funds Weigh In On PepsiCo

Hedge funds have recently made changes to their positions in the business. Ossiam increased its stake in PepsiCo by 138.9% in the 4th quarter. Ossiam now owns 73,604 shares of the company's stock valued at $11,192,000 after buying an additional 42,793 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of PepsiCo by 104.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company's stock valued at $259,350,000 after acquiring an additional 870,451 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV raised its holdings in PepsiCo by 12.8% during the fourth 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 in the last quarter. Guinness Asset Management LTD boosted its position in PepsiCo by 5.2% during the fourth quarter. Guinness Asset Management LTD now owns 1,236,788 shares of the company's stock valued at $188,031,000 after purchasing an additional 61,541 shares during the last quarter. Finally, WCM Investment Management LLC increased its position in shares of PepsiCo by 147.6% during 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 during the last quarter. 73.07% of the stock is owned by institutional investors.

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.