PepsiCo (NASDAQ:PEP) Rating Increased to Strong Sell at Redburn Atlantic

PepsiCo (NASDAQ:PEP) was upgraded by analysts at Redburn Atlantic to a “strong sell” rating in a report released on Thursday, Zacks.com reports.

A number of other equities analysts also recently commented on the company. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and decreased their price target for the stock from $190.00 to $183.00 in a research note on Thursday. Bank of America lowered their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a report on Friday, September 20th. Wells Fargo & Company dropped their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Finally, StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Performance

NASDAQ:PEP opened at $174.81 on Thursday. PepsiCo has a 1-year low of $157.43 and a 1-year high of $183.41. The stock has a market cap of $239.84 billion, a P/E ratio of 25.78, a PEG ratio of 3.11 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.64. The firm has a 50-day moving average of $173.52 and a two-hundred day moving average of $172.08.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Iams Wealth Management LLC grew its position in PepsiCo by 4.1% in the third quarter. Iams Wealth Management LLC now owns 6,698 shares of the company’s stock worth $1,139,000 after buying an additional 265 shares during the last quarter. Wesbanco Bank Inc. grew its holdings in shares of PepsiCo by 1.2% in the 3rd quarter. Wesbanco Bank Inc. now owns 152,685 shares of the company’s stock worth $25,964,000 after acquiring an additional 1,877 shares during the last quarter. CX Institutional raised its position in shares of PepsiCo by 204.1% during the third quarter. CX Institutional now owns 41,184 shares of the company’s stock worth $7,003,000 after purchasing an additional 27,643 shares during the period. Sivia Capital Partners LLC lifted its holdings in shares of PepsiCo by 4.9% during the third quarter. Sivia Capital Partners LLC now owns 3,638 shares of the company’s stock valued at $619,000 after purchasing an additional 171 shares during the last quarter. Finally, Grove Bank & Trust boosted its position in shares of PepsiCo by 1.8% in the 3rd quarter. Grove Bank & Trust now owns 7,370 shares of the company’s stock valued at $1,253,000 after purchasing an additional 130 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

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.