PepsiCo (NASDAQ:PEP) Price Target Increased to $154.00 by Analysts at Morgan Stanley

PepsiCo (NASDAQ:PEP) had its target price lifted by Morgan Stanley from $149.00 to $154.00 in a research report issued on Friday, BenzingaRatingsTable reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 10.49% from the company’s current price.

PEP has been the subject of several other research reports. Citigroup boosted their price objective on shares of PepsiCo from $139.00 to $143.00 and gave the stock a “neutral” rating in a research report on Friday. SunTrust Banks restated a “hold” rating and issued a $125.00 price objective on shares of PepsiCo in a research report on Wednesday, July 10th. Bank of America boosted their price objective on shares of PepsiCo from $135.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. BidaskClub upgraded shares of PepsiCo from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Atlantic Securities assumed coverage on shares of PepsiCo in a research report on Monday, July 29th. They issued an “overweight” rating and a $145.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $135.53.

PEP stock traded up $1.45 during trading on Friday, hitting $139.38. The company had a trading volume of 1,574,962 shares, compared to its average volume of 3,978,473. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 1.97. The firm has a 50-day moving average price of $134.84 and a 200-day moving average price of $129.83. PepsiCo has a 12 month low of $104.53 and a 12 month high of $139.75. The stock has a market cap of $192.07 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 3.57 and a beta of 0.56.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.06. PepsiCo had a net margin of 19.59% and a return on equity of 59.50%. The firm had revenue of $17.19 billion during the quarter, compared to analysts’ expectations of $16.93 billion. During the same quarter in the previous year, the company posted $1.59 EPS. PepsiCo’s revenue was up 4.3% on a year-over-year basis. Equities analysts expect that PepsiCo will post 5.51 EPS for the current year.

In other news, CEO Kirk Tanner sold 9,573 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $128.15, for a total value of $1,226,779.95. Following the completion of the transaction, the chief executive officer now owns 105,350 shares of the company’s stock, valued at approximately $13,500,602.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Steven C. Williams sold 2,420 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $133.95, for a total transaction of $324,159.00. Following the completion of the transaction, the chief executive officer now directly owns 54,920 shares of the company’s stock, valued at approximately $7,356,534. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Marietta Wealth Management LLC boosted its stake in PepsiCo by 3.6% in the 2nd quarter. Marietta Wealth Management LLC now owns 22,145 shares of the company’s stock worth $2,904,000 after purchasing an additional 763 shares during the period. Laurel Wealth Advisors Inc. boosted its stake in PepsiCo by 1.3% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 23,826 shares of the company’s stock worth $2,920,000 after purchasing an additional 296 shares during the period. AQR Capital Management LLC boosted its stake in PepsiCo by 27.6% in the 2nd quarter. AQR Capital Management LLC now owns 3,484,704 shares of the company’s stock worth $456,949,000 after purchasing an additional 754,455 shares during the period. AE Wealth Management LLC boosted its stake in PepsiCo by 72.6% in the 2nd quarter. AE Wealth Management LLC now owns 64,904 shares of the company’s stock worth $8,511,000 after purchasing an additional 27,302 shares during the period. Finally, Assetmark Inc. boosted its stake in PepsiCo by 19.0% in the 2nd quarter. Assetmark Inc. now owns 5,417 shares of the company’s stock worth $710,000 after purchasing an additional 864 shares during the period. 71.47% of the stock is owned by institutional investors.

PepsiCo Company Profile

PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.

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Analyst Recommendations for PepsiCo (NASDAQ:PEP)

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