PepsiCo (NASDAQ:PEP) Rating Lowered to Hold at StockNews.com

PepsiCo (NASDAQ:PEP) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Several other research analysts also recently commented on the company. Bank of America lowered their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research note on Friday, September 20th. Wells Fargo & Company lowered their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada lowered their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Trading Down 0.8 %

Shares of PepsiCo stock opened at $174.48 on Thursday. PepsiCo has a 52-week low of $158.03 and a 52-week high of $183.41. The firm has a 50-day moving average of $173.68 and a 200-day moving average of $172.10. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.64 and a current ratio of 0.89. The stock has a market cap of $239.87 billion, a PE ratio of 25.32, a PEG ratio of 3.11 and a beta of 0.53.

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 the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the prior year, the business posted $2.25 earnings per share. PepsiCo’s revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts forecast that PepsiCo will post 8.15 EPS for the current year.

Hedge Funds Weigh In On PepsiCo

A number of institutional investors and hedge funds have recently modified their holdings of PEP. Global Wealth Strategies & Associates boosted its holdings in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares in the last quarter. Valued Wealth Advisors LLC boosted its holdings in shares of PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after buying an additional 69 shares in the last quarter. POM Investment Strategies LLC boosted its holdings 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 buying an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of PepsiCo during the 2nd quarter worth approximately $30,000. Finally, Mattson Financial Services LLC bought a new position in shares of PepsiCo in the 2nd quarter worth $34,000. 73.07% of the stock is currently owned by 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.