TD Cowen Lowers PepsiCo (NASDAQ:PEP) Price Target to $160.00

PepsiCo (NASDAQ:PEP) had its target price decreased by TD Cowen from $183.00 to $160.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. TD Cowen’s price objective points to a potential upside of 9.19% from the stock’s current price.

PEP has been the subject of several other research reports. Barclays lowered their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised PepsiCo from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $179.00 to $184.00 in a research note on Thursday, December 12th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus target price of $180.64.

PepsiCo Stock Up 0.8 %

NASDAQ PEP opened at $146.54 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock’s 50 day moving average is $157.81 and its 200 day moving average is $166.68. PepsiCo has a 12 month low of $144.56 and a 12 month high of $183.41. The stock has a market cap of $201.05 billion, a PE ratio of 21.61, a P/E/G ratio of 2.94 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the previous year, the company posted $2.25 EPS. The company’s revenue was down .6% compared to the same quarter last year. Research analysts predict that PepsiCo will post 8.15 EPS for the current fiscal year.

Hedge Funds Weigh In On PepsiCo

Several institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in shares of PepsiCo by 17,113.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after purchasing an additional 3,201,676 shares during the last quarter. State Street Corp raised its holdings in PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after purchasing an additional 2,775,679 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after buying an additional 2,264,445 shares during the last quarter. Swedbank AB grew its position in shares of PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after buying an additional 1,592,343 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of PepsiCo by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after acquiring an additional 1,125,059 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

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.