Macquarie Increases PepsiCo (PEP) Price Target to $138.00

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PepsiCo (NASDAQ:PEP) had its price target raised by equities researchers at Macquarie from $126.00 to $138.00 in a report released on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “outperform” rating on the stock. Macquarie’s price objective would indicate a potential upside of 8.58% from the company’s previous close.

A number of other equities analysts have also recently commented on the stock. Gabelli reissued a “buy” rating on shares of PepsiCo in a research note on Tuesday, February 19th. Zacks Investment Research cut shares of PepsiCo from a “hold” rating to a “sell” rating in a research note on Thursday, February 21st. Royal Bank of Canada reissued a “neutral” rating and issued a $115.00 price target on shares of PepsiCo in a research note on Thursday. Deutsche Bank boosted their price target on shares of PepsiCo from $120.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, Morgan Stanley boosted their price target on shares of PepsiCo from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 19th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the stock. PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $123.00.

PepsiCo stock opened at $127.09 on Thursday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.85 and a current ratio of 0.99. The company has a market cap of $178.47 billion, a P/E ratio of 22.45, a PEG ratio of 3.10 and a beta of 0.65. PepsiCo has a 1-year low of $95.94 and a 1-year high of $128.26.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Wednesday, April 17th. The company reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.05. The business had revenue of $12.88 billion for the quarter, compared to analyst estimates of $12.68 billion. PepsiCo had a net margin of 19.35% and a return on equity of 69.83%. PepsiCo’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.96 EPS. Research analysts expect that PepsiCo will post 5.5 EPS for the current year.

In other news, CEO Vivek Sankaran sold 13,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $117.28, for a total value 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 approximately $10,599,649.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.28% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in PEP. Vanguard Group Inc. boosted its position in PepsiCo by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 119,706,640 shares of the company’s stock valued at $13,383,201,000 after buying an additional 1,595,038 shares during the period. Vanguard Group Inc boosted its position in PepsiCo by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 119,706,640 shares of the company’s stock valued at $13,383,201,000 after buying an additional 1,595,038 shares during the period. BlackRock Inc. boosted its position in PepsiCo by 2.4% during the 4th quarter. BlackRock Inc. now owns 97,102,071 shares of the company’s stock valued at $10,727,836,000 after buying an additional 2,275,511 shares during the period. Oregon Public Employees Retirement Fund boosted its position in PepsiCo by 10,622.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 34,704,199 shares of the company’s stock valued at $314,000 after buying an additional 34,380,553 shares during the period. Finally, Northern Trust Corp boosted its position in PepsiCo by 3.2% during the 4th quarter. Northern Trust Corp now owns 20,185,841 shares of the company’s stock valued at $2,230,132,000 after buying an additional 623,727 shares during the period. 72.30% of the stock is owned by institutional investors.

PepsiCo Company Profile

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.

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Analyst Recommendations for PepsiCo (NASDAQ:PEP)

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