StockNews.com Upgrades PepsiCo (NASDAQ:PEP) to Buy

PepsiCo (NASDAQ:PEP) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

PEP has been the topic of several other research reports. Bank of America cut 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. JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday. Wells Fargo & Company reduced their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft cut their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a research report on Friday, July 19th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $184.79.

PepsiCo Stock Up 1.2 %

Shares of NASDAQ PEP traded up $2.12 on Wednesday, reaching $172.54. 7,177,208 shares of the company’s stock traded hands, compared to its average volume of 5,515,644. PepsiCo has a 12 month low of $157.43 and a 12 month high of $183.41. The business’s 50 day simple moving average is $173.63 and its two-hundred day simple moving average is $172.06. The company has a market cap of $237.21 billion, a price-to-earnings ratio of 25.04, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87.

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

Hedge Funds Weigh In On PepsiCo

Hedge funds have recently added to or reduced their stakes in the company. RMB Capital Management LLC lifted its holdings in shares of PepsiCo by 19.1% during the fourth quarter. RMB Capital Management LLC now owns 48,146 shares of the company’s stock valued at $8,177,000 after acquiring an additional 7,726 shares during the period. True Wealth Design LLC grew its position in shares of PepsiCo by 812.0% during the 4th quarter. True Wealth Design LLC now owns 228 shares of the company’s stock worth $39,000 after buying an additional 203 shares during the period. Vivaldi Capital Management LP grew its position in shares of PepsiCo by 39.0% in the 4th quarter. Vivaldi Capital Management LP now owns 2,439 shares of the company’s stock valued at $412,000 after purchasing an additional 684 shares during the period. LM Advisors LLC acquired a new position in shares of PepsiCo in the 4th quarter valued at approximately $262,000. Finally, Orleans Capital Management Corp LA grew its position in shares of PepsiCo by 1.8% in the 4th quarter. Orleans Capital Management Corp LA now owns 10,943 shares of the company’s stock valued at $1,859,000 after purchasing an additional 190 shares during the period. Institutional investors and hedge funds 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.