Barclays Downgrades PepsiCo (NASDAQ:PEP) to Equal Weight

PepsiCo (NASDAQ:PEP) was downgraded by Barclays from an “overweight” rating to an “equal weight” rating in a report released on Tuesday, Marketbeat.com reports. They currently have a $156.00 price target on the stock, down from their prior price target of $168.00. Barclays‘s price objective would suggest a potential upside of 5.33% from the stock’s previous close.

PEP has been the subject of a number of other reports. BNP Paribas dropped their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. CICC Research reissued a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. Morgan Stanley decreased their price objective on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. JPMorgan Chase & Co. decreased their price objective on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Finally, Piper Sandler started coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $169.88.

PepsiCo Stock Performance

NASDAQ PEP opened at $148.11 on Tuesday. The firm has a market cap of $203.13 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The business has a 50-day moving average price of $148.97 and a 200-day moving average price of $159.50. PepsiCo has a twelve month low of $141.51 and a twelve month high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. During the same period in the prior year, the company earned $1.78 earnings per share. The firm’s revenue was down .2% on a year-over-year basis. As a group, equities research analysts predict that PepsiCo will post 8.3 EPS for the current fiscal year.

Hedge Funds Weigh In On PepsiCo

Several institutional investors and hedge funds have recently modified their holdings of the stock. DSG Capital Advisors LLC acquired a new position in shares of PepsiCo in the 4th quarter valued at about $461,000. Chancellor Financial Group WB LP acquired a new position in shares of PepsiCo in the 4th quarter valued at about $1,561,000. Triton Wealth Management PLLC lifted its holdings in shares of PepsiCo by 14.2% in the 4th quarter. Triton Wealth Management PLLC now owns 5,570 shares of the company’s stock valued at $919,000 after buying an additional 691 shares during the period. 111 Capital acquired a new position in PepsiCo in the 4th quarter worth about $3,595,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in PepsiCo by 11.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,110,484 shares of the company’s stock worth $168,860,000 after purchasing an additional 111,517 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.