PepsiCo (NASDAQ:PEP) Price Target Cut to $176.00 by Analysts at Royal Bank of Canada

PepsiCo (NASDAQ:PEP) had its price target decreased by equities research analysts at Royal Bank of Canada from $177.00 to $176.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 4.92% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Barclays lowered their price target on shares of PepsiCo from $187.00 to $186.00 and set an “overweight” rating on the stock in a report on Friday. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a research note on Friday, July 19th. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research report on Friday, September 20th. BNP Paribas started coverage on shares of PepsiCo in a research report on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price for the company. Finally, Wells Fargo & Company dropped 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 note on Wednesday, July 10th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $185.29.

PepsiCo Stock Performance

PEP stock traded down $0.78 during trading hours on Friday, reaching $167.75. The stock had a trading volume of 1,932,661 shares, compared to its average volume of 5,479,988. PepsiCo has a fifty-two week low of $155.83 and a fifty-two week high of $183.41. The stock has a market capitalization of $230.42 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 2.93 and a beta of 0.53. The stock has a 50-day simple moving average of $173.90 and a 200 day simple moving average of $172.13. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. During the same period in the previous year, the company posted $2.09 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Analysts predict that PepsiCo will post 8.14 EPS for the current fiscal year.

Hedge Funds Weigh In On PepsiCo

Large investors have recently modified their holdings of the business. Capital Advisors Ltd. LLC lifted its stake in shares of PepsiCo by 3.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after purchasing an additional 139 shares during the period. Norden Group LLC grew its holdings in PepsiCo by 3,345.6% in the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after purchasing an additional 174,171 shares during the period. Marion Wealth Management raised its holdings in shares of PepsiCo by 6.3% during the first quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock valued at $1,467,000 after purchasing an additional 494 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of PepsiCo by 1.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 715,296 shares of the company’s stock valued at $121,486,000 after buying an additional 11,485 shares during the period. Finally, Meyer Handelman Co. increased its position in PepsiCo by 3.9% in the 1st quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock valued at $44,412,000 after buying an additional 9,465 shares in the last quarter. 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.