PepsiCo (NASDAQ:PEP) PT Raised to $206.00 at Wedbush

Posted by on Jul 16th, 2023

PepsiCo (NASDAQ:PEP – Get Free Report) had its price target boosted by equities researchers at Wedbush from $200.00 to $206.00 in a note issued to investors on Friday, MarketBeat.com reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price objective would suggest a potential upside of 9.45% from the stock’s current price. Wedbush also issued estimates for PepsiCo’s Q3 2023 earnings at $2.10 EPS, Q4 2023 earnings at $1.70 EPS, FY2023 earnings at $7.28 EPS, Q1 2024 earnings at $1.60 EPS, Q1 2024 earnings at $1.59 EPS, Q2 2024 earnings at $2.12 EPS, Q3 2024 earnings at $2.29 EPS, Q4 2024 earnings at $1.85 EPS and FY2024 earnings at $7.86 EPS.

A number of other equities research analysts have also recently issued reports on the stock. Barclays dropped their target price on shares of PepsiCo from $206.00 to $198.00 in a research report on Monday, July 10th. StockNews.com initiated coverage on PepsiCo in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Royal Bank of Canada lifted their price objective on PepsiCo from $175.00 to $178.00 in a research report on Wednesday, April 26th. Wells Fargo & Company increased their target price on PepsiCo from $187.00 to $196.00 in a report on Wednesday, April 26th. Finally, JPMorgan Chase & Co. lifted their price target on PepsiCo from $190.00 to $196.00 and gave the company an “overweight” rating in a report on Monday, April 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus target price of $192.00.

PepsiCo Stock Performance

NASDAQ PEP opened at $188.21 on Friday. PepsiCo has a twelve month low of $160.98 and a twelve month high of $196.88. The company has a quick ratio of 0.65, a current ratio of 0.84 and a debt-to-equity ratio of 2.02. The stock has a market cap of $259.30 billion, a P/E ratio of 32.96, a PEG ratio of 3.20 and a beta of 0.53. The company’s 50-day simple moving average is $185.70 and its 200 day simple moving average is $182.30.

PepsiCo (NASDAQ:PEP – Get Free Report) last issued its earnings results on Thursday, July 13th. The company reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.13. PepsiCo had a return on equity of 56.05% and a net margin of 8.76%. The business had revenue of $22.32 billion during the quarter, compared to analysts’ expectations of $21.73 billion. During the same period in the prior year, the firm posted $1.86 EPS. PepsiCo’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, research analysts forecast that PepsiCo will post 7.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PEP. Clear Investment Research LLC acquired a new position in shares of PepsiCo in the 4th quarter valued at $25,000. Avion Wealth raised its position in shares of PepsiCo by 70.6% during the second quarter. Avion Wealth now owns 145 shares of the company’s stock worth $25,000 after purchasing an additional 60 shares during the period. Freedom Wealth Alliance LLC bought a new position in shares of PepsiCo during the 4th quarter valued at about $29,000. Red Tortoise LLC bought a new stake in PepsiCo during the 4th quarter worth approximately $30,000. Finally, Legend Financial Advisors Inc. raised its holdings in PepsiCo by 125.7% during the 4th quarter. Legend Financial Advisors Inc. now owns 167 shares of the company’s stock worth $30,000 after buying an additional 93 shares during the period. Institutional investors and hedge funds own 75.46% of the company’s stock.

PepsiCo Company Profile

(Get Free Report)

PepsiCo, Inc manufactures, markets, distributes, and sells 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.

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