Royal Bank of Canada Reaffirms “Sector Perform” Rating for PepsiCo (NASDAQ:PEP)

PepsiCo (NASDAQ:PEP)‘s stock had its “sector perform” rating restated by Royal Bank of Canada in a note issued to investors on Wednesday,Benzinga reports. They presently have a $172.00 price target on the stock. Royal Bank of Canada’s target price suggests a potential upside of 13.59% from the stock’s previous close.

Several other brokerages have also weighed in on PEP. TD Cowen decreased their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Barclays lowered their price target on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Finally, Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $176.73.

PepsiCo Stock Performance

PEP traded up $1.17 during midday trading on Wednesday, reaching $151.42. The company’s stock had a trading volume of 1,727,551 shares, compared to its average volume of 6,583,636. PepsiCo has a twelve month low of $141.51 and a twelve month high of $183.41. The stock has a market cap of $207.75 billion, a P/E ratio of 22.34, a PEG ratio of 2.86 and a beta of 0.54. The company has a fifty day simple moving average of $153.68 and a 200 day simple moving average of $165.17. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

Hedge Funds Weigh In On PepsiCo

Several hedge funds and other institutional investors have recently bought and sold shares of PEP. State Street Corp increased its stake in shares of PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after acquiring an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of PepsiCo by 1.8% during the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after buying an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in PepsiCo by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after buying an additional 1,125,059 shares in the last quarter. Franklin Resources Inc. lifted its stake in PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after acquiring an additional 2,264,445 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of PepsiCo by 2.7% in the third quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock valued at $2,057,359,000 after purchasing an additional 313,468 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Company Profile

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.