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

PepsiCo (NASDAQ:PEP) had its price objective cut by investment analysts at TD Cowen from $183.00 to $160.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. TD Cowen’s price target would indicate a potential upside of 10.00% from the stock’s current price.

PEP has been the topic of a number of other research reports. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Wells Fargo & Company dropped their target price on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and boosted their target price for the company from $179.00 to $184.00 in a research report on Thursday, December 12th. Finally, Piper Sandler initiated coverage on PepsiCo in a research report on Tuesday. They set an “overweight” rating and a $171.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $180.64.

PepsiCo Stock Up 0.0 %

NASDAQ PEP traded up $0.05 on Wednesday, reaching $145.45. 2,571,066 shares of the stock traded hands, compared to its average volume of 5,923,241. PepsiCo has a 12 month low of $144.56 and a 12 month high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The company has a fifty day moving average price of $158.60 and a 200-day moving average price of $166.97. The company has a market cap of $199.56 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 2.94 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.30 by $0.01. The business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.25 EPS. As a group, research analysts forecast that PepsiCo will post 8.15 EPS for the current fiscal year.

Institutional Trading of PepsiCo

Large investors have recently added to or reduced their stakes in the stock. Global Wealth Strategies & Associates lifted its holdings in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo in the third quarter valued at $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of PepsiCo in the 3rd quarter valued at $31,000. Rakuten Securities Inc. boosted its holdings in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after acquiring an additional 96 shares during the period. Finally, Mattson Financial Services LLC purchased a new stake in PepsiCo during the second quarter worth about $34,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

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.