PepsiCo (NASDAQ:PEP) had its price target lifted by research analysts at Bank of America from $130.00 to $135.00 in a research note issued to investors on Thursday, MarketBeat.com reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective indicates a potential upside of 6.22% from the company’s previous close.
A number of other brokerages also recently issued reports on PEP. Macquarie upgraded PepsiCo from a “neutral” rating to an “outperform” rating and set a $126.00 price objective for the company in a research report on Tuesday, February 19th. Gabelli restated a “buy” rating on shares of PepsiCo in a research report on Tuesday, February 19th. Zacks Investment Research downgraded PepsiCo from a “hold” rating to a “sell” rating in a research report on Thursday, February 21st. Deutsche Bank raised their price objective on PepsiCo from $120.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, Morgan Stanley raised their price objective on PepsiCo from $125.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 19th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $123.00.
PepsiCo stock opened at $127.09 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 1.99. The stock has a market capitalization of $178.16 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 3.12 and a beta of 0.65. PepsiCo has a 12 month low of $95.94 and a 12 month high of $128.26.
PepsiCo (NASDAQ:PEP) last posted its earnings results on Wednesday, April 17th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. PepsiCo had a return on equity of 65.12% and a net margin of 19.37%. The firm had revenue of $12.88 billion during the quarter, compared to the consensus estimate of $12.68 billion. During the same period last year, the company earned $0.96 earnings per share. The business’s quarterly revenue was up 2.6% on a year-over-year basis. On average, research analysts anticipate that PepsiCo will post 5.51 EPS for the current year.
In related news, CEO Vivek Sankaran sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $117.28, for a total transaction of $1,524,640.00. Following the completion of the sale, the chief executive officer now owns 90,379 shares of the company’s stock, valued at $10,599,649.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.28% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Financial Gravity Wealth Inc. acquired a new stake in PepsiCo during the first quarter worth approximately $41,000. Watch Point Trust Co grew its stake in PepsiCo by 9.6% during the first quarter. Watch Point Trust Co now owns 24,796 shares of the company’s stock worth $3,039,000 after purchasing an additional 2,165 shares during the period. Isthmus Partners LLC acquired a new stake in PepsiCo during the first quarter worth approximately $928,000. Cypress Wealth Services LLC grew its stake in PepsiCo by 8.6% during the first quarter. Cypress Wealth Services LLC now owns 22,627 shares of the company’s stock worth $2,773,000 after purchasing an additional 1,792 shares during the period. Finally, Plimoth Trust Co. LLC grew its stake in PepsiCo by 18.5% in the first quarter. Plimoth Trust Co. LLC now owns 15,222 shares of the company’s stock valued at $1,865,000 after acquiring an additional 2,374 shares during the period. 72.30% of the stock is owned by institutional investors and hedge funds.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
See Also: What is Put Option Volume?
Receive News & Ratings for PepsiCo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PepsiCo and related companies with MarketBeat.com's FREE daily email newsletter.