PepsiCo (NASDAQ:PEP) Cut to “Equal Weight” at Barclays

PepsiCo (NASDAQ:PEP) was downgraded by investment analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Tuesday,Finviz reports. They presently have a $156.00 price objective on the stock, down from their prior price objective of $168.00. Barclays‘s price objective suggests a potential upside of 3.08% from the stock’s previous close.

A number of other research analysts have also recently commented on PEP. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Morgan Stanley lowered their target price on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Wells Fargo & Company lowered their target price on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. BNP Paribas lowered their target price on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Finally, Piper Sandler initiated coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price for the company. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus target price of $169.88.

PepsiCo Trading Up 1.9 %

Shares of NASDAQ:PEP opened at $151.34 on Tuesday. The business’s 50 day simple moving average is $148.86 and its 200 day simple moving average is $159.75. The company has a market capitalization of $207.56 billion, a P/E ratio of 21.78, a P/E/G ratio of 3.09 and a beta of 0.52. PepsiCo has a 1 year low of $141.51 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. The firm had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $1.78 EPS. On average, research analysts anticipate that PepsiCo will post 8.3 EPS for the current fiscal year.

Hedge Funds Weigh In On PepsiCo

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in PepsiCo by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock valued at $20,280,471,000 after purchasing an additional 1,376,133 shares during the last quarter. State Street Corp boosted its stake in PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC boosted its stake in PepsiCo by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company’s stock valued at $4,717,069,000 after purchasing an additional 582,254 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock worth $3,834,504,000 after buying an additional 3,856,193 shares in the last quarter. Finally, Norges Bank bought a new position in shares of PepsiCo during the 4th quarter worth approximately $2,729,565,000. Institutional investors and hedge funds 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.