PepsiCo (NASDAQ:PEP) Upgraded at StockNews.com

PepsiCo (NASDAQ:PEP) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. reduced their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research report on Friday, September 20th. Bank of America reduced their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Finally, Royal Bank of Canada reduced their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Up 0.5 %

PEP opened at $166.34 on Tuesday. The firm has a 50-day simple moving average of $172.84 and a two-hundred day simple moving average of $172.20. PepsiCo has a 52 week low of $158.03 and a 52 week high of $183.41. The company has a market capitalization of $228.22 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 3.09 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. The firm had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.25 EPS. Analysts forecast that PepsiCo will post 8.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PepsiCo

Institutional investors and hedge funds have recently made changes to their positions in the stock. Global Wealth Strategies & Associates lifted its stake in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the period. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo during the third quarter worth $28,000. POM Investment Strategies LLC raised its holdings in shares of PepsiCo by 141.3% during the second 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 purchased a new position in shares of PepsiCo during the second quarter worth $30,000. Finally, Mattson Financial Services LLC purchased a new position in shares of PepsiCo during the second quarter worth $34,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

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.