Barclays Trims PepsiCo (NASDAQ:PEP) Target Price to $179.00

PepsiCo (NASDAQ:PEP) had its price target reduced by investment analysts at Barclays from $180.00 to $179.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 7.10% from the stock’s previous close.

Several other equities analysts have also commented on the stock. Bank of America decreased their price objective on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Monday. Wedbush reaffirmed an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a research report on Tuesday, April 23rd. Jefferies Financial Group cut their price target on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday. TD Cowen cut their price target on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Finally, Wells Fargo & Company cut their price target on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $185.60.

PepsiCo Stock Up 1.9 %

Shares of PEP stock traded up $3.18 on Friday, hitting $167.13. The stock had a trading volume of 2,702,741 shares, compared to its average volume of 5,503,076. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. The business has a 50 day moving average price of $171.12 and a 200 day moving average price of $169.99. The company has a market cap of $229.77 billion, a PE ratio of 25.11, a P/E/G ratio of 2.84 and a beta of 0.52. PepsiCo has a one year low of $155.83 and a one year high of $192.38.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The firm’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $2.09 earnings per share. Research analysts anticipate that PepsiCo will post 8.15 earnings per share for the current fiscal year.

Insider Buying and Selling at PepsiCo

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the transaction, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at $9,603,634. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PepsiCo

Several institutional investors have recently added to or reduced their stakes in the business. Capital Advisors Ltd. LLC lifted its stake in PepsiCo by 3.6% in the first quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after buying an additional 139 shares during the last quarter. Cerity Partners LLC lifted its stake in PepsiCo by 59.4% in the fourth quarter. Cerity Partners LLC now owns 993,567 shares of the company’s stock valued at $168,747,000 after buying an additional 370,122 shares during the last quarter. Meadow Creek Wealth Advisors LLC purchased a new stake in PepsiCo in the fourth quarter valued at approximately $405,000. Householder Group Estate & Retirement Specialist LLC raised its stake in shares of PepsiCo by 34.5% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 12,317 shares of the company’s stock worth $2,091,000 after purchasing an additional 3,159 shares during the last quarter. Finally, Marion Wealth Management raised its stake in shares of PepsiCo by 31.7% during the fourth quarter. Marion Wealth Management now owns 7,888 shares of the company’s stock worth $1,340,000 after purchasing an additional 1,900 shares during the last quarter. Hedge funds and other 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.