UBS Group Has Lowered Expectations for PepsiCo (NASDAQ:PEP) Stock Price

PepsiCo (NASDAQ:PEP) had its price target reduced by analysts at UBS Group from $193.00 to $175.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price would indicate a potential upside of 18.04% from the stock’s previous close.

Several other research firms also recently commented on PEP. Barclays lowered their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research note on Friday, September 20th. Royal Bank of Canada cut their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Finally, TD Cowen reduced their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $178.60.

PepsiCo Stock Up 1.2 %

Shares of PEP opened at $148.25 on Thursday. The business’s 50 day moving average is $155.37 and its 200 day moving average is $165.82. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo has a 12-month low of $141.51 and a 12-month high of $183.41. The company has a market capitalization of $203.40 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54.

Hedge Funds Weigh In On PepsiCo

A number of large investors have recently bought and sold shares of the business. Global Wealth Strategies & Associates lifted its position 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 purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in PepsiCo during the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo in the 3rd quarter valued at about $31,000. Mattson Financial Services LLC purchased a new position in shares of PepsiCo during the second quarter worth approximately $34,000. Finally, Rakuten Securities Inc. raised its stake in shares of PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after acquiring an additional 96 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.