PepsiCo (NASDAQ:PEP) PT Lowered to $190.00

PepsiCo (NASDAQ:PEP) had its target price dropped by equities researchers at TD Cowen from $200.00 to $190.00 in a note issued to investors on Wednesday, Marketbeat.com reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective points to a potential upside of 16.85% from the company’s previous close.

Several other equities analysts have also recently issued reports on PEP. Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a research report on Monday, March 18th. BNP Paribas started coverage on PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 target price on the stock. Wedbush reiterated an “outperform” rating and set a $195.00 target price on shares of PepsiCo in a research report on Tuesday, April 23rd. Jefferies Financial Group boosted their target price on PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Finally, JPMorgan Chase & Co. boosted their target price on PepsiCo from $181.00 to $184.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 26th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.64.

PepsiCo Stock Down 0.6 %

PepsiCo stock opened at $162.60 on Wednesday. PepsiCo has a fifty-two week low of $155.83 and a fifty-two week high of $192.38. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. The company has a market capitalization of $223.54 billion, a P/E ratio of 24.45, a PEG ratio of 2.69 and a beta of 0.52. The stock has a 50-day simple moving average of $172.65 and a 200-day simple moving average of $170.19.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.09. The firm had revenue of $18.25 billion for the quarter, compared to analysts’ expectations of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.50 EPS. Equities research analysts expect that PepsiCo will post 8.16 earnings per share for the current year.

Insider Activity at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the transaction, the chief executive officer now owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Seven Eight Capital LP purchased a new position in shares of PepsiCo in the 3rd quarter worth $2,111,000. Sei Investments Co. raised its position in shares of PepsiCo by 10.2% in the 3rd quarter. Sei Investments Co. now owns 464,135 shares of the company’s stock worth $78,643,000 after buying an additional 42,840 shares during the period. Rainsberger Wealth Advisors Inc. raised its position in shares of PepsiCo by 1.5% in the 3rd quarter. Rainsberger Wealth Advisors Inc. now owns 10,103 shares of the company’s stock worth $1,712,000 after buying an additional 152 shares during the period. Royal London Asset Management Ltd. raised its position in shares of PepsiCo by 5.4% in the 3rd quarter. Royal London Asset Management Ltd. now owns 1,046,856 shares of the company’s stock worth $177,385,000 after buying an additional 53,249 shares during the period. Finally, Industrial Alliance Investment Management Inc. raised its position in shares of PepsiCo by 251.1% in the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 3,581 shares of the company’s stock worth $607,000 after buying an additional 2,561 shares during the period. 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.