Citigroup Upgrades PepsiCo (NASDAQ:PEP) to Buy

PepsiCo (NASDAQ:PEPGet Free Report) was upgraded by equities research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Monday, Briefing.com reports. The firm presently has a $195.00 price objective on the stock, up from their previous price objective of $180.00. Citigroup’s price target would indicate a potential upside of 16.30% from the company’s current price.

Other equities analysts have also issued reports about the stock. Barclays cut their target price on shares of PepsiCo from $181.00 to $179.00 and set an “overweight” rating for the company in a report on Tuesday, January 16th. DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $187.00 target price on the stock in a research report on Thursday, October 19th. Deutsche Bank Aktiengesellschaft upped their price target on PepsiCo from $181.00 to $184.00 and gave the stock a “hold” rating in a report on Friday. JPMorgan Chase & Co. lowered PepsiCo from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $185.00 to $176.00 in a report on Tuesday, December 19th. Finally, Jefferies Financial Group began coverage on PepsiCo in a research report on Monday, November 13th. They set a “buy” rating and a $203.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $187.46.

Read Our Latest Stock Analysis on PEP

PepsiCo Price Performance

Shares of PEP opened at $167.67 on Monday. The firm has a market capitalization of $230.52 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 2.50 and a beta of 0.54. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.85 and a quick ratio of 0.68. The company’s fifty day moving average price is $168.53 and its 200-day moving average price is $171.04. PepsiCo has a 1-year low of $155.83 and a 1-year high of $196.88.

PepsiCo (NASDAQ:PEPGet Free Report) last issued its earnings results on Friday, February 9th. The company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. PepsiCo had a return on equity of 58.03% and a net margin of 9.92%. The firm had revenue of $27.84 billion for the quarter, compared to analyst estimates of $28.40 billion. During the same quarter in the prior year, the firm earned $1.67 earnings per share. PepsiCo’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities research analysts predict that PepsiCo will post 8.15 EPS for the current year.

Institutional Investors Weigh In On PepsiCo

Several large investors have recently bought and sold shares of PEP. Mirae Asset Global Investments Co. Ltd. increased its holdings in PepsiCo by 34.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,128,044 shares of the company’s stock valued at $188,812,000 after buying an additional 286,169 shares in the last quarter. AMI Investment Management Inc. lifted its holdings in shares of PepsiCo by 0.7% during the 1st quarter. AMI Investment Management Inc. now owns 16,627 shares of the company’s stock worth $2,783,000 after acquiring an additional 113 shares during the period. Mather Group LLC. boosted its holdings in shares of PepsiCo by 29.3% in the 1st quarter. Mather Group LLC. now owns 5,562 shares of the company’s stock valued at $931,000 after purchasing an additional 1,262 shares during the last quarter. Wsfs Capital Management LLC grew its holdings in shares of PepsiCo by 117.2% during the 1st quarter. Wsfs Capital Management LLC now owns 2,995 shares of the company’s stock worth $501,000 after purchasing an additional 1,616 shares during the period. Finally, Equitable Holdings Inc. lifted its holdings in shares of PepsiCo by 8.5% during the 1st quarter. Equitable Holdings Inc. now owns 26,909 shares of the company’s stock valued at $4,504,000 after acquiring an additional 2,116 shares in the last quarter. Hedge funds and other institutional investors own 71.40% of the company’s stock.

PepsiCo Company Profile

(Get Free Report)

PepsiCo, Inc manufactures, markets, distributes, and sells 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.

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Analyst Recommendations for PepsiCo (NASDAQ:PEP)

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