Barclays Cuts PepsiCo (NASDAQ:PEP) Price Target to $153.00

PepsiCo (NASDAQ:PEP) had its target price reduced by equities researchers at Barclays from $158.00 to $153.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 5.82% from the company’s current price.

A number of other brokerages have also weighed in on PEP. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Evercore ISI cut their target price on shares of PepsiCo from $180.00 to $160.00 in a research report on Tuesday. Deutsche Bank Aktiengesellschaft cut their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Piper Sandler initiated coverage on shares of PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. Finally, UBS Group cut their price target on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $171.47.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $144.58 on Thursday. The company’s 50 day simple moving average is $151.80 and its 200 day simple moving average is $164.26. The stock has a market capitalization of $198.29 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo has a 1 year low of $141.51 and a 1 year high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. During the same period last year, the firm posted $1.78 earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year. As a group, research analysts predict that PepsiCo will post 8.15 EPS for the current fiscal year.

Institutional Investors Weigh In On PepsiCo

Several hedge funds and other institutional investors have recently bought and sold shares of PEP. Highline Wealth Partners LLC bought a new stake in PepsiCo in the third quarter valued at $28,000. Collier Financial bought a new stake in PepsiCo in the fourth quarter valued at $28,000. Creative Capital Management Investments LLC bought a new stake in PepsiCo in the fourth quarter valued at $30,000. Legacy Investment Solutions LLC bought a new stake in PepsiCo in the third quarter valued at $31,000. Finally, Rakuten Securities Inc. increased its stake in PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

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.