Royal Bank of Canada Lowers PepsiCo (NASDAQ:PEP) Price Target to $176.00

PepsiCo (NASDAQ:PEP) had its price target lowered by investment analysts at Royal Bank of Canada from $177.00 to $176.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 4.78% from the stock’s previous close.

PEP has been the subject of a number of other reports. Bank of America cut their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. BNP Paribas started coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target for the company. Wells Fargo & Company lowered their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research note on Friday, September 20th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus target price of $185.29.

PepsiCo Stock Down 0.3 %

PEP opened at $167.97 on Friday. The stock’s 50 day moving average price is $173.80 and its 200 day moving average price is $172.10. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. The stock has a market cap of $230.92 billion, a P/E ratio of 24.38, a P/E/G ratio of 2.93 and a beta of 0.53. PepsiCo has a 12 month low of $155.83 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.12. The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.09 earnings per share. As a group, research analysts predict that PepsiCo will post 8.14 earnings per share for the current year.

Institutional Investors Weigh In On PepsiCo

Institutional investors have recently bought and sold shares of the business. Global Wealth Strategies & Associates boosted its holdings in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the period. Valued Wealth Advisors LLC boosted its stake in shares of PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after buying an additional 69 shares during the period. POM Investment Strategies LLC grew its holdings in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of PepsiCo during the second quarter worth $30,000. Finally, Fortis Group Advisors LLC boosted its position in PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after purchasing an additional 97 shares during the last quarter. 73.07% of the stock is currently 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.