PepsiCo (NASDAQ:PEP) Stock Rating Reaffirmed by Wedbush

PepsiCo (NASDAQ:PEPGet Free Report)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a note issued to investors on Friday, Benzinga reports. They currently have a $195.00 price target on the stock. Wedbush’s price target indicates a potential upside of 16.30% from the company’s previous close. Wedbush also issued estimates for PepsiCo’s Q1 2024 earnings at $1.59 EPS, Q2 2024 earnings at $2.25 EPS, Q3 2024 earnings at $2.39 EPS and FY2024 earnings at $8.13 EPS.

PEP has been the subject of several other research reports. JPMorgan Chase & Co. cut shares of PepsiCo from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $185.00 to $176.00 in a report on Tuesday, December 19th. Barclays dropped their price target on shares of PepsiCo from $181.00 to $179.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 16th. Jefferies Financial Group started coverage on shares of PepsiCo in a research report on Monday, November 13th. They set a “buy” rating and a $203.00 price target on the stock. DZ Bank upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $187.00 price target on the stock in a research report on Thursday, October 19th. Finally, StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Friday, October 13th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $186.31.

Check Out Our Latest Report on PepsiCo

PepsiCo Trading Down 3.6 %

NASDAQ PEP opened at $167.67 on Friday. The company has a fifty day simple moving average of $168.53 and a two-hundred day simple moving average of $171.18. The stock has a market cap of $230.52 billion, a P/E ratio of 27.95, a P/E/G ratio of 2.61 and a beta of 0.54. PepsiCo has a 12-month low of $155.83 and a 12-month high of $196.88. The company has a current ratio of 0.88, a quick ratio of 0.71 and a debt-to-equity ratio of 1.89.

PepsiCo (NASDAQ:PEPGet Free Report) last issued its earnings results on Friday, February 9th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. PepsiCo had a net margin of 9.05% and a return on equity of 58.28%. The firm had revenue of $27.84 billion during the quarter, compared to analysts’ expectations of $28.40 billion. During the same quarter last year, the company posted $1.67 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. On average, analysts forecast that PepsiCo will post 7.55 earnings per share for the current year.

Hedge Funds Weigh In On PepsiCo

A number of institutional investors have recently bought and sold shares of the company. Intech Investment Management LLC raised its stake in PepsiCo by 13.7% during the fourth quarter. Intech Investment Management LLC now owns 69,731 shares of the company’s stock worth $11,843,000 after purchasing an additional 8,394 shares during the period. Nations Financial Group Inc. IA ADV raised its stake in PepsiCo by 41.4% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 34,217 shares of the company’s stock worth $5,812,000 after purchasing an additional 10,026 shares during the period. Johnson Financial Group Inc. raised its stake in PepsiCo by 2.0% during the fourth quarter. Johnson Financial Group Inc. now owns 17,742 shares of the company’s stock worth $3,036,000 after purchasing an additional 346 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in PepsiCo by 6.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,040,930 shares of the company’s stock worth $176,792,000 after purchasing an additional 63,168 shares during the period. Finally, Nixon Peabody Trust Co. raised its stake in PepsiCo by 581.0% during the fourth quarter. Nixon Peabody Trust Co. now owns 85,543 shares of the company’s stock worth $14,529,000 after purchasing an additional 72,982 shares during the period. 71.40% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading

Analyst Recommendations for PepsiCo (NASDAQ:PEP)

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