PepsiCo (NASDAQ:PEP) Rating Lowered to Equal Weight at Morgan Stanley

PepsiCo (NASDAQ:PEP) was downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report released on Friday, Marketbeat reports. They currently have a $185.00 target price on the stock. Morgan Stanley’s target price suggests a potential upside of 5.92% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group reduced their target price on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Bank of America cut their price objective on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Finally, Royal Bank of Canada lowered their target price on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $185.53.

PepsiCo Stock Down 0.3 %

Shares of PEP opened at $174.66 on Friday. The company has a market capitalization of $240.12 billion, a P/E ratio of 25.35, a PEG ratio of 3.06 and a beta of 0.53. PepsiCo has a one year low of $155.83 and a one year high of $183.41. The business’s 50 day simple moving average is $173.42 and its 200-day simple moving average is $171.70. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. During the same quarter in the prior year, the business earned $2.09 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, sell-side analysts predict that PepsiCo will post 8.15 EPS for the current fiscal year.

Hedge Funds Weigh In On PepsiCo

Several hedge funds have recently made changes to their positions in PEP. Valued Wealth Advisors LLC boosted its holdings in shares of PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after buying an additional 69 shares during the last quarter. POM Investment Strategies LLC increased its stake in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new stake in PepsiCo in the 2nd quarter valued at about $30,000. Fortis Group Advisors LLC increased its position in PepsiCo by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after buying an additional 97 shares during the period. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of PepsiCo in the first quarter valued at about $35,000. 73.07% of the stock is owned by institutional investors.

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.