PepsiCo (NASDAQ:PEP) Price Target Lowered to $160.00 at Citigroup

PepsiCo (NASDAQ:PEP - Free Report) had its target price lowered by Citigroup from $170.00 to $160.00 in a report released on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also commented on the stock. Bank of America decreased their price objective on shares of PepsiCo from $155.00 to $150.00 and set a "neutral" rating on the stock in a research report on Friday. Royal Bank of Canada reiterated a "sector perform" rating and issued a $163.00 price target on shares of PepsiCo in a research report on Tuesday. Wells Fargo & Company cut their price objective on PepsiCo from $155.00 to $150.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft lowered their target price on PepsiCo from $184.00 to $178.00 and set a "buy" rating on the stock in a report on Wednesday, January 22nd. Finally, TD Cowen reduced their price objective on PepsiCo from $183.00 to $160.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $162.00.

PepsiCo Price Performance

Shares of PEP traded down $1.93 during trading hours on Friday, reaching $133.38. The company had a trading volume of 11,537,466 shares, compared to its average volume of 6,152,649. The company 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 has a 12-month low of $131.80 and a 12-month high of $183.41. The firm has a 50 day simple moving average of $147.70 and a 200-day simple moving average of $153.79. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.

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

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were given a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 4.06%. PepsiCo's dividend payout ratio (DPR) is 77.99%.

Hedge Funds Weigh In On PepsiCo

A number of hedge funds have recently made changes to their positions in PEP. Norges Bank acquired a new position in PepsiCo during the 4th quarter worth approximately $2,729,565,000. GAMMA Investing LLC lifted its position in shares of PepsiCo by 19,106.5% during the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock worth $688,017,000 after purchasing an additional 4,564,723 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of PepsiCo in the fourth quarter valued at $589,307,000. Charles Schwab Investment Management Inc. increased its stake in PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock worth $3,834,504,000 after buying an additional 3,856,193 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company's stock worth $2,293,049,000 after buying an additional 2,264,445 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.