PepsiCo (NASDAQ:PEP) Earns Overweight Rating from Analysts at Piper Sandler

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

PEP has been the subject of several other reports. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. JPMorgan Chase & Co. lowered their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada lowered their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $183.36.

PepsiCo Stock Performance

PepsiCo stock opened at $146.27 on Tuesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The firm’s fifty day moving average price is $159.04 and its 200 day moving average price is $167.12. The company has a market capitalization of $200.68 billion, a price-to-earnings ratio of 21.57, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. PepsiCo has a 12-month low of $146.10 and a 12-month high of $183.41.

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

Institutional Investors Weigh In On PepsiCo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PEP. Empowered Funds LLC lifted its holdings in shares of PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after buying an additional 8,406 shares during the period. Janus Henderson Group PLC lifted its holdings in PepsiCo by 11.0% in the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after acquiring an additional 34,633 shares during the last quarter. IHT Wealth Management LLC boosted its position in shares of PepsiCo by 19.3% during the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after purchasing an additional 5,220 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in PepsiCo during the third quarter valued at approximately $9,589,000. Finally, Kestra Investment Management LLC bought a new stake in PepsiCo during the third quarter worth approximately $527,000. 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.