TD Cowen Trims PepsiCo (NASDAQ:PEP) Target Price to $190.00

PepsiCo (NASDAQ:PEP) had its target price decreased by research analysts at TD Cowen from $200.00 to $190.00 in a research note issued on Wednesday, Briefing.com reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective points to a potential upside of 16.42% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. Argus cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Wedbush reiterated an “outperform” rating and set a $195.00 price target on shares of PepsiCo in a research note on Tuesday, April 23rd. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a research note on Monday, March 18th. Barclays lowered their target price on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. Finally, JPMorgan Chase & Co. lifted their target price on shares of PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a research note on Wednesday, June 26th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $186.64.

PepsiCo Stock Down 0.2 %

Shares of NASDAQ PEP traded down $0.38 on Wednesday, reaching $163.20. 300,955 shares of the company’s stock traded hands, compared to its average volume of 5,462,343. The company has a market cap of $224.37 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 2.71 and a beta of 0.52. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. The business’s 50 day simple moving average is $173.10 and its two-hundred day simple moving average is $170.26. PepsiCo has a 12 month low of $155.83 and a 12 month high of $192.38.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The company had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. During the same quarter last year, the firm earned $1.50 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that PepsiCo will post 8.16 EPS for the current fiscal year.

Insider Activity at PepsiCo

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the transaction, the chief executive officer now directly owns 53,953 shares in the company, valued at approximately $9,603,634. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PepsiCo

Several large investors have recently added to or reduced their stakes in PEP. Norges Bank purchased a new stake in PepsiCo in the 4th quarter valued at about $2,686,139,000. International Assets Investment Management LLC lifted its position in PepsiCo by 9,623.6% during the fourth quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock valued at $519,381,000 after acquiring an additional 3,026,611 shares during the last quarter. Flossbach Von Storch AG lifted its position in PepsiCo by 67.2% during the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after acquiring an additional 1,832,385 shares during the last quarter. California Public Employees Retirement System lifted its position in PepsiCo by 17.9% during the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after acquiring an additional 1,470,064 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in PepsiCo by 17.7% during the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock valued at $1,520,909,000 after purchasing an additional 1,345,065 shares in the last quarter. 73.07% of the stock is 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.