PepsiCo (NASDAQ:PEP) PT Lowered to $176.00

PepsiCo (NASDAQ:PEP) had its target price dropped by equities research analysts at Royal Bank of Canada from $177.00 to $176.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 4.92% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Barclays reduced their price objective on PepsiCo from $187.00 to $186.00 and set an “overweight” rating for the company in a research report on Friday. Jefferies Financial Group decreased their price target 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. Wells Fargo & Company cut their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a report on Friday, September 20th. Finally, Bank of America decreased their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $185.29.

PepsiCo Stock Down 0.5 %

Shares of PEP traded down $0.78 during midday trading on Friday, reaching $167.75. 1,932,661 shares of the stock were exchanged, compared to its average volume of 5,479,988. The company has a market cap of $230.42 billion, a price-to-earnings ratio of 24.36, a P/E/G ratio of 2.93 and a beta of 0.53. The firm has a 50 day simple moving average of $173.90 and a 200-day simple moving average of $172.13. PepsiCo has a 12-month low of $155.83 and a 12-month high of $183.41. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. During the same period in the prior year, the company posted $2.09 earnings per share. PepsiCo’s revenue for the quarter was up .8% on a year-over-year basis. Research analysts forecast that PepsiCo will post 8.14 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its holdings in shares of PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in PepsiCo by 7.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after acquiring an additional 700,092 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of PepsiCo by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after purchasing an additional 561,465 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in PepsiCo by 1.1% during the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after purchasing an additional 57,322 shares during the last quarter. Finally, Flossbach Von Storch AG increased its stake in PepsiCo by 67.2% in the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after buying an additional 1,832,385 shares during the last quarter. 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.