PepsiCo (NASDAQ:PEP) Given New $165.00 Price Target at JPMorgan Chase & Co.

PepsiCo (NASDAQ:PEP) had its target price reduced by analysts at JPMorgan Chase & Co. from $183.00 to $165.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 10.58% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. TD Cowen cut their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Piper Sandler began coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. Finally, UBS Group lowered their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, PepsiCo currently has an average rating of “Hold” and an average price target of $177.00.

PepsiCo Trading Up 0.4 %

Shares of NASDAQ:PEP traded up $0.60 on Friday, reaching $149.22. 488,402 shares of the company traded hands, compared to its average volume of 6,440,167. The business’s 50-day simple moving average is $154.40 and its 200 day simple moving average is $165.52. PepsiCo has a 52 week low of $141.51 and a 52 week high of $183.41. The stock has a market capitalization of $204.73 billion, a P/E ratio of 22.00, a price-to-earnings-growth ratio of 2.86 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.

Institutional Inflows and Outflows

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

PepsiCo Company Profile

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.