PepsiCo (NASDAQ:PEP) Price Target Cut to $170.00 by Analysts at HSBC

PepsiCo (NASDAQ:PEP) had its price objective cut by research analysts at HSBC from $186.00 to $170.00 in a report released on Tuesday. The brokerage currently has a “hold” rating on the stock. HSBC’s price objective suggests a potential upside of 18.27% from the stock’s previous close.

Several other brokerages have also issued reports on PEP. TD Cowen lowered their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada initiated coverage on shares of PepsiCo in a research note on Tuesday. They set a $172.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective 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. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, Barclays reduced their target price on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $174.53.

PepsiCo Trading Down 4.3 %

PEP stock traded down $6.53 during midday trading on Tuesday, reaching $143.74. The company’s stock had a trading volume of 3,116,546 shares, compared to its average volume of 6,421,764. PepsiCo has a 52 week low of $141.51 and a 52 week high of $183.41. The stock has a market cap of $197.22 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The business’s 50-day simple moving average is $153.12 and its 200-day simple moving average is $164.85.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. As a group, sell-side analysts expect that PepsiCo will post 8.15 EPS for the current year.

Hedge Funds Weigh In On PepsiCo

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo during the third quarter worth $28,000. Collier Financial acquired a new stake in shares of PepsiCo during the fourth quarter worth $28,000. Creative Capital Management Investments LLC acquired a new stake in shares of PepsiCo during the fourth quarter worth $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of PepsiCo during the third quarter worth $31,000. Finally, Rakuten Securities Inc. increased its position in shares of PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after buying an additional 96 shares during the period. 73.07% of the stock is currently 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.