PepsiCo (NASDAQ:PEP) PT Lowered to $183.00

PepsiCo (NASDAQ:PEP) had its price objective cut by analysts at JPMorgan Chase & Co. from $185.00 to $183.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 5.79% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Friday, September 20th. Wells Fargo & Company reduced their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Barclays dropped their target price on PepsiCo from $187.00 to $186.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Bank of America decreased their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, BNP Paribas began coverage on PepsiCo in a research report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $184.07.

PepsiCo Price Performance

Shares of PEP opened at $172.99 on Wednesday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. PepsiCo has a fifty-two week low of $157.43 and a fifty-two week high of $183.41. The firm has a 50-day simple moving average of $173.62 and a 200-day simple moving average of $172.06. The company has a market capitalization of $237.82 billion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the firm earned $2.25 EPS. On average, equities research analysts anticipate that PepsiCo will post 8.13 earnings per share for the current year.

Hedge Funds Weigh In On PepsiCo

A number of institutional investors have recently made changes to their positions in PEP. Legal & General Group Plc boosted its position in PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after acquiring an additional 905,468 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of PepsiCo by 7.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after purchasing an additional 700,092 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in PepsiCo by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after purchasing an additional 561,465 shares during the last quarter. Ameriprise Financial Inc. lifted its position in PepsiCo by 1.1% during the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after buying an additional 57,322 shares during the period. Finally, Flossbach Von Storch AG boosted its stake in PepsiCo by 67.2% in the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after buying an additional 1,832,385 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

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.