PepsiCo (NASDAQ:PEP) Price Target Lowered to $170.00 at Citigroup

PepsiCo (NASDAQ:PEP) had its price objective dropped by analysts at Citigroup from $195.00 to $170.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 18.48% from the company’s previous close.

Several other analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft lowered 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. TD Cowen reduced their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. BNP Paribas reduced their target price on PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Finally, HSBC reduced their target price on PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, PepsiCo has an average rating of “Hold” and a consensus target price of $172.06.

PepsiCo Stock Down 4.5 %

Shares of PEP opened at $143.49 on Wednesday. The firm has a market cap of $196.87 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54. PepsiCo has a 12-month low of $141.51 and a 12-month high of $183.41. The company’s 50-day moving average price is $152.49 and its 200 day moving average price is $164.53. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same period in the prior year, the company posted $1.78 earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year. On average, sell-side analysts forecast that PepsiCo will post 8.15 earnings per share for the current year.

Hedge Funds Weigh In On PepsiCo

A number of hedge funds have recently modified their holdings of the stock. Highline Wealth Partners LLC acquired a new position in PepsiCo during the third quarter worth approximately $28,000. Collier Financial acquired a new position in PepsiCo during the fourth quarter worth approximately $28,000. Creative Capital Management Investments LLC acquired a new position in PepsiCo during the fourth quarter worth approximately $30,000. Legacy Investment Solutions LLC acquired a new position in PepsiCo during the third quarter worth approximately $31,000. Finally, Rakuten Securities Inc. boosted its holdings in shares of PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 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.