PepsiCo (NASDAQ:PEP) Price Target Cut to $160.00 by Analysts at TD Cowen

PepsiCo (NASDAQ:PEP) had its price objective reduced by analysts at TD Cowen from $183.00 to $160.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price objective suggests a potential upside of 10.00% from the company’s previous close.

PEP has been the subject of a number of other research reports. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised shares of PepsiCo from a “hold” rating to a “buy” rating and lifted their target price for the company from $179.00 to $184.00 in a research note on Thursday, December 12th. Royal Bank of Canada decreased their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Wells Fargo & Company cut their price objective on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $180.64.

PepsiCo Price Performance

NASDAQ PEP traded up $0.05 during trading hours on Wednesday, reaching $145.45. 2,571,066 shares of the stock traded hands, compared to its average volume of 5,923,241. The stock has a 50 day simple moving average of $158.60 and a two-hundred day simple moving average of $166.97. PepsiCo has a 1 year low of $144.56 and a 1 year high of $183.41. 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 company has a market cap of $199.56 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54.

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

Institutional Trading of PepsiCo

Several hedge funds have recently modified their holdings of the company. Quest Partners LLC raised its stake in shares of PepsiCo by 44.8% in the second quarter. Quest Partners LLC now owns 6,665 shares of the company’s stock valued at $1,099,000 after acquiring an additional 2,063 shares during the period. Van Hulzen Asset Management LLC grew its stake in shares of PepsiCo by 12.2% during the second quarter. Van Hulzen Asset Management LLC now owns 5,121 shares of the company’s stock valued at $845,000 after buying an additional 557 shares during the last quarter. MGO One Seven LLC lifted its stake in shares of PepsiCo by 2.5% during the 2nd quarter. MGO One Seven LLC now owns 26,983 shares of the company’s stock worth $4,450,000 after acquiring an additional 668 shares during the last quarter. Angeles Wealth Management LLC boosted its holdings in PepsiCo by 8.5% during the 2nd quarter. Angeles Wealth Management LLC now owns 13,495 shares of the company’s stock valued at $2,226,000 after acquiring an additional 1,059 shares during the period. Finally, Vaughan David Investments LLC IL increased its stake in PepsiCo by 0.6% in the second quarter. Vaughan David Investments LLC IL now owns 272,551 shares of the company’s stock worth $44,952,000 after purchasing an additional 1,689 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

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.