Morgan Stanley Issues Pessimistic Forecast for PepsiCo (NASDAQ:PEP) Stock Price

PepsiCo (NASDAQ:PEP) had its price target cut by analysts at Morgan Stanley from $185.00 to $168.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 15.58% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Evercore ISI cut their price target on PepsiCo from $180.00 to $160.00 in a report on Tuesday. Deutsche Bank Aktiengesellschaft cut their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. BNP Paribas cut their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday. Royal Bank of Canada initiated coverage on PepsiCo in a report on Tuesday. They set a $172.00 price target for the company. Finally, Barclays cut their price target on PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $171.47.

PepsiCo Trading Down 0.2 %

NASDAQ PEP opened at $145.35 on Wednesday. The company has a market cap of $199.42 billion, a PE ratio of 21.44, a PEG ratio of 2.92 and a beta of 0.54. 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 stock has a 50 day moving average of $152.15 and a 200-day moving average of $164.39.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.94 by $0.02. The company had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.78 EPS. On average, equities research analysts anticipate that PepsiCo will post 8.15 EPS for the current fiscal year.

Hedge Funds Weigh In On PepsiCo

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in PepsiCo in the fourth quarter worth approximately $589,307,000. Charles Schwab Investment Management Inc. increased its holdings in PepsiCo by 18.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock worth $3,834,504,000 after purchasing an additional 3,856,193 shares in the last quarter. International Assets Investment Management LLC increased its holdings in PepsiCo by 17,113.0% in the third 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 in the last quarter. State Street Corp increased 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. Finally, Franklin Resources Inc. increased its holdings in PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after purchasing an additional 2,264,445 shares in the last quarter. 73.07% of the stock is 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.