PepsiCo (NASDAQ:PEP – Get Free Report) had its price objective decreased by investment analysts at JPMorgan Chase & Co. from $188.00 to $185.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 17.03% from the stock’s current price.
Several other equities research analysts have also recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $180.00 price objective on shares of PepsiCo in a research report on Wednesday. Morgan Stanley lowered their price objective on shares of PepsiCo from $210.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Wednesday. StockNews.com assumed coverage on shares of PepsiCo in a research note on Thursday, October 5th. They set a “hold” rating for the company. Citigroup dropped their price target on PepsiCo from $200.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on PepsiCo from $193.00 to $195.00 in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $182.85.
Get Our Latest Stock Analysis on PEP
PepsiCo Trading Down 2.8 %
PepsiCo (NASDAQ:PEP – Get Free Report) last posted its quarterly earnings data on Tuesday, October 10th. The company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.10. PepsiCo had a return on equity of 56.05% and a net margin of 8.76%. The company had revenue of $23.45 billion during the quarter, compared to analyst estimates of $23.41 billion. During the same quarter last year, the company earned $1.97 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, analysts forecast that PepsiCo will post 7.48 EPS for the current fiscal year.
Institutional Trading of PepsiCo
Hedge funds and other institutional investors have recently modified their holdings of the company. Radnor Capital Management LLC purchased a new stake in shares of PepsiCo during the third quarter worth about $3,469,000. New Capital Management LP bought a new stake in shares of PepsiCo during the third quarter valued at approximately $9,934,000. Granite Bay Wealth Management LLC purchased a new position in shares of PepsiCo in the third quarter worth $10,092,000. Toth Financial Advisory Corp boosted its position in shares of PepsiCo by 7.5% during the third quarter. Toth Financial Advisory Corp now owns 53,336 shares of the company’s stock worth $9,037,000 after acquiring an additional 3,711 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in PepsiCo by 17.6% in the 3rd quarter. IFP Advisors Inc now owns 22,082 shares of the company’s stock valued at $3,741,000 after acquiring an additional 3,309 shares during the last quarter. 71.40% of the stock is owned by hedge funds and other institutional investors.
About PepsiCo
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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