Wells Fargo & Company Cuts PepsiCo (NASDAQ:PEP) Price Target to $155.00

PepsiCo (NASDAQ:PEP) had its target price reduced by equities research analysts at Wells Fargo & Company from $170.00 to $155.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 5.77% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Barclays dropped their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Bank of America dropped their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and cut their price target for the company from $190.00 to $183.00 in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $180.64.

PepsiCo Stock Up 0.8 %

PEP opened at $146.54 on Tuesday. PepsiCo has a fifty-two week low of $144.56 and a fifty-two week high of $183.41. The company has a market capitalization of $201.05 billion, a P/E ratio of 21.61, a P/E/G ratio of 2.94 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The firm’s fifty day moving average price is $158.20 and its two-hundred day moving average price is $166.82.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.25 earnings per share. On average, analysts anticipate that PepsiCo will post 8.15 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC boosted its stake in PepsiCo by 17,113.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after purchasing an additional 3,201,676 shares during the period. State Street Corp lifted its holdings in shares of PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after buying an additional 2,264,445 shares during the period. Swedbank AB raised its position in PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after buying an additional 1,592,343 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in PepsiCo by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after acquiring an additional 1,125,059 shares in the last quarter. 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.