Piper Sandler Initiates Coverage on PepsiCo (NASDAQ:PEP)

Research analysts at Piper Sandler initiated coverage on shares of PepsiCo (NASDAQ:PEP) in a report released on Tuesday,Benzinga reports. The firm set an “overweight” rating and a $171.00 price target on the stock. Piper Sandler’s target price indicates a potential upside of 16.91% from the company’s current price.

Several other equities research analysts have also commented on PEP. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Bank of America lowered their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Barclays reduced their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised shares of PepsiCo from a “hold” rating to a “buy” rating and upped their target price for the stock from $179.00 to $184.00 in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. decreased their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $183.36.

PepsiCo Trading Down 2.3 %

PepsiCo stock opened at $146.27 on Tuesday. PepsiCo has a 52-week low of $146.10 and a 52-week high of $183.41. The company has a market cap of $200.68 billion, a P/E ratio of 21.57, a P/E/G ratio of 2.94 and a beta of 0.54. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The business has a 50-day simple moving average of $159.04 and a two-hundred day simple moving average of $167.12.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same period in the previous year, the business posted $2.25 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. Analysts predict that PepsiCo will post 8.15 EPS for the current year.

Hedge Funds Weigh In On PepsiCo

Institutional investors and hedge funds have recently made changes to their positions in the business. Global Wealth Strategies & Associates grew its holdings in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the period. Cross Staff Investments Inc grew its stake in PepsiCo by 0.9% during the third quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock worth $1,204,000 after buying an additional 60 shares during the period. Paulson Wealth Management Inc. increased its position in shares of PepsiCo by 2.1% in the third quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock worth $508,000 after acquiring an additional 60 shares in the last quarter. LCM Capital Management Inc boosted its position in PepsiCo by 0.8% during the 3rd quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock worth $1,288,000 after purchasing an additional 62 shares during the period. Finally, Demars Financial Group LLC increased its holdings in PepsiCo by 1.1% in the 3rd quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock valued at $973,000 after purchasing an additional 62 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other 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.