TD Cowen Lowers PepsiCo (NASDAQ:PEP) Price Target to $160.00

PepsiCo (NASDAQ:PEP) had its price target dropped by stock analysts at TD Cowen from $183.00 to $160.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s target price would indicate a potential upside of 9.19% from the stock’s previous close.

A number of other equities analysts have also issued reports on PEP. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research note on Friday, September 20th. Wells Fargo & Company decreased their target price on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a report on Tuesday. Piper Sandler began coverage on shares of PepsiCo in a report on Tuesday. They issued an “overweight” rating and a $171.00 price target on the stock. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and increased their price objective for the stock from $179.00 to $184.00 in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average price target of $180.64.

PepsiCo Price Performance

Shares of PEP stock opened at $146.54 on Wednesday. PepsiCo has a fifty-two week low of $144.56 and a fifty-two week high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm has a market capitalization of $201.05 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 2.94 and a beta of 0.54. The stock’s 50-day simple moving average is $157.81 and its 200-day simple moving average is $166.68.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the previous year, the firm earned $2.25 EPS. PepsiCo’s revenue was down .6% compared to the same quarter last year. As a group, equities analysts forecast that PepsiCo will post 8.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PepsiCo

Several institutional investors and hedge funds have recently added to or reduced their stakes in PEP. Global Wealth Strategies & Associates boosted its stake in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in PepsiCo during the 3rd quarter worth $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of PepsiCo during the third quarter worth $31,000. Mattson Financial Services LLC acquired a new stake in shares of PepsiCo in the second quarter valued at about $34,000. Finally, Rakuten Securities Inc. boosted its position in PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

About PepsiCo

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.