Wells Fargo & Company Lowers PepsiCo (NASDAQ:PEP) Price Target to $172.00

PepsiCo (NASDAQ:PEPGet Rating) had its target price cut by analysts at Wells Fargo & Company from $175.00 to $172.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 8.44% from the stock’s previous close.

PEP has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft boosted their price objective on PepsiCo from $173.00 to $175.00 in a research note on Wednesday, April 27th. StockNews.com began coverage on PepsiCo in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Citigroup increased their price objective on PepsiCo from $194.00 to $198.00 in a research report on Wednesday, April 27th. Credit Suisse Group increased their price objective on PepsiCo from $163.00 to $168.00 in a research report on Wednesday, April 27th. Finally, UBS Group dropped their target price on PepsiCo from $190.00 to $182.00 in a report on Tuesday. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $177.13.

Shares of NASDAQ PEP traded up $1.56 during midday trading on Tuesday, hitting $158.62. 63,147 shares of the stock traded hands, compared to its average volume of 5,563,907. The company has a market cap of $219.32 billion, a PE ratio of 21.71, a P/E/G ratio of 3.12 and a beta of 0.59. PepsiCo has a one year low of $144.61 and a one year high of $177.62. The business has a 50 day moving average price of $167.34 and a two-hundred day moving average price of $168.23. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.68 and a current ratio of 0.87.

PepsiCo (NASDAQ:PEPGet Rating) last announced its earnings results on Tuesday, April 26th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.05. The company had revenue of $16.20 billion for the quarter, compared to analysts’ expectations of $15.54 billion. PepsiCo had a return on equity of 53.44% and a net margin of 12.57%. PepsiCo’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.21 earnings per share. As a group, equities research analysts forecast that PepsiCo will post 6.64 EPS for the current fiscal year.

In other news, EVP David Flavell sold 5,150 shares of the business’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $175.11, for a total value of $901,816.50. Following the transaction, the executive vice president now directly owns 28,275 shares in the company, valued at $4,951,235.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eugene Willemsen sold 4,560 shares of the business’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $175.61, for a total value of $800,781.60. Following the completion of the transaction, the chief executive officer now owns 8,277 shares in the company, valued at $1,453,523.97. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Cordant Inc. purchased a new position in shares of PepsiCo during the first quarter valued at approximately $27,000. Life Planning Partners Inc purchased a new stake in shares of PepsiCo in the fourth quarter valued at approximately $35,000. Leverty Financial Group LLC purchased a new stake in shares of PepsiCo in the fourth quarter valued at approximately $38,000. Strategic Asset Management LLC boosted its holdings in shares of PepsiCo by 53.3% in the first quarter. Strategic Asset Management LLC now owns 276 shares of the company’s stock valued at $46,000 after purchasing an additional 96 shares during the period. Finally, Landmark Wealth Management LLC purchased a new stake in shares of PepsiCo in the first quarter valued at approximately $29,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

About PepsiCo (Get Rating)

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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