PepsiCo (NASDAQ:PEP) Given Sector Perform Rating at Royal Bank of Canada

PepsiCo (NASDAQ:PEP)‘s stock had its “sector perform” rating reissued by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $163.00 price objective on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 13.49% from the company’s current price.

Other equities analysts also recently issued reports about the stock. CICC Research restated a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. Piper Sandler began coverage on PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective on the stock. TD Cowen dropped their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. HSBC dropped their target price on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $167.24.

PepsiCo Stock Performance

Shares of NASDAQ PEP traded up $1.89 during midday trading on Tuesday, hitting $143.62. 773,359 shares of the company’s stock were exchanged, compared to its average volume of 6,092,936. 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 company’s 50 day moving average price is $148.12 and its 200 day moving average price is $154.56. PepsiCo has a 12 month low of $138.33 and a 12 month high of $183.41. The firm has a market capitalization of $196.95 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 3.09 and a beta of 0.49.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tcfg Wealth Management LLC lifted its stake in PepsiCo by 3.5% in the fourth quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company’s stock valued at $295,000 after buying an additional 66 shares during the period. Lincoln Capital LLC increased its stake in shares of PepsiCo by 0.4% in the 4th quarter. Lincoln Capital LLC now owns 16,808 shares of the company’s stock valued at $2,556,000 after acquiring an additional 70 shares in the last quarter. Marshall Financial Group LLC boosted its stake in PepsiCo by 2.3% during the fourth quarter. Marshall Financial Group LLC now owns 3,128 shares of the company’s stock worth $476,000 after acquiring an additional 70 shares in the last quarter. Osprey Private Wealth LLC grew its holdings in PepsiCo by 0.5% in the fourth quarter. Osprey Private Wealth LLC now owns 15,060 shares of the company’s stock worth $2,290,000 after purchasing an additional 70 shares during the period. Finally, TAGStone Capital Inc. raised its holdings in shares of PepsiCo by 2.8% during the fourth quarter. TAGStone Capital Inc. now owns 2,527 shares of the company’s stock valued at $388,000 after purchasing an additional 70 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

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.