PepsiCo (NASDAQ:PEP) Now Covered by Piper Sandler

Equities researchers at Piper Sandler began coverage on shares of PepsiCo (NASDAQ:PEP) in a research report issued on Tuesday, MarketBeat reports. The firm set an “overweight” rating and a $171.00 price target on the stock. Piper Sandler’s target price indicates a potential upside of 16.69% from the company’s previous close.

PEP has been the subject of several other research reports. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and decreased their price objective for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. JPMorgan Chase & Co. decreased their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Royal Bank of Canada dropped their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft raised PepsiCo from a “hold” rating to a “buy” rating and increased their target price for the company from $179.00 to $184.00 in a report on Thursday, December 12th. Finally, Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $180.64.

PepsiCo Stock Up 0.8 %

Shares of NASDAQ:PEP opened at $146.54 on Tuesday. The firm’s 50-day moving average is $158.20 and its two-hundred day moving average is $166.82. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo has a 1 year low of $144.56 and a 1 year high of $183.41. The firm has a market capitalization of $201.05 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.25 earnings per share. Analysts predict that PepsiCo will post 8.15 EPS for the current year.

Hedge Funds Weigh In On PepsiCo

Several institutional investors have recently added to or reduced their stakes in PEP. State Street Corp increased its holdings in shares of PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares during the period. Geode Capital Management LLC grew its position in PepsiCo by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after buying an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in PepsiCo by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after buying an additional 1,125,059 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after acquiring an additional 905,468 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after acquiring an additional 2,264,445 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Company Profile

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.