Wells Fargo & Company Has Lowered Expectations for PepsiCo (NASDAQ:PEP) Stock Price

PepsiCo (NASDAQ:PEP) had its price objective dropped by equities researchers at Wells Fargo & Company from $170.00 to $155.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 5.53% from the stock’s current price.

Several other research firms also recently commented on PEP. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Barclays reduced their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research report on Friday, September 20th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, Bank of America dropped their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $182.29.

PepsiCo Stock Up 0.4 %

PEP opened at $146.88 on Tuesday. PepsiCo has a 1-year low of $146.10 and a 1-year high of $183.41. The business has a 50 day moving average of $159.04 and a 200-day moving average of $167.12. The stock has a market capitalization of $201.52 billion, a price-to-earnings ratio of 21.66, a P/E/G ratio of 2.94 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 (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $23.86 billion. During the same period in the prior year, the company posted $2.25 earnings per share. PepsiCo’s revenue was down .6% on a year-over-year basis. As a group, sell-side analysts anticipate that PepsiCo will post 8.15 earnings per share for the current year.

Institutional Trading of PepsiCo

Several institutional investors and hedge funds have recently made changes to their positions in the business. Global Wealth Strategies & Associates raised its stake in PepsiCo by 59.0% during the 3rd 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 bought a new position in shares of PepsiCo during the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new stake in PepsiCo during the 3rd quarter worth approximately $31,000. Mattson Financial Services LLC acquired a new stake in shares of PepsiCo during the second quarter worth $34,000. Finally, Rakuten Securities Inc. raised its stake in shares of PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the period. 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.