PepsiCo (PEP) Given New $115.00 Price Target at SunTrust Banks

PepsiCo (NASDAQ:PEP) had its target price cut by equities researchers at SunTrust Banks from $125.00 to $115.00 in a research note issued on Wednesday, The Fly reports. The firm presently has a “hold” rating on the stock. SunTrust Banks’ price target suggests a potential upside of 2.55% from the stock’s current price.

PEP has been the topic of a number of other research reports. Zacks Investment Research downgraded PepsiCo from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Susquehanna Bancshares raised their price target on PepsiCo from $137.00 to $140.00 and gave the company a “positive” rating in a research report on Monday. Cowen restated a “buy” rating and set a $133.00 price target on shares of PepsiCo in a research report on Tuesday, January 9th. Jefferies Group restated a “hold” rating and set a $113.00 price target on shares of PepsiCo in a research report on Thursday, January 4th. Finally, Credit Suisse Group restated a “neutral” rating and set a $124.00 price target (up previously from $122.00) on shares of PepsiCo in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $123.04.

Shares of PepsiCo (NASDAQ:PEP) traded up $0.21 during mid-day trading on Wednesday, hitting $112.14. The company had a trading volume of 5,274,600 shares, compared to its average volume of 4,297,292. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 2.32. PepsiCo has a one year low of $104.77 and a one year high of $122.51. The stock has a market capitalization of $156,440.00, a P/E ratio of 22.65, a PEG ratio of 2.89 and a beta of 0.62.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.01. PepsiCo had a return on equity of 59.68% and a net margin of 10.97%. The company had revenue of $19.53 billion for the quarter, compared to the consensus estimate of $19.40 billion. During the same quarter last year, the business posted $1.20 earnings per share. The firm’s revenue was up .1% compared to the same quarter last year. sell-side analysts predict that PepsiCo will post 5.22 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in PEP. Quantitative Investment Management LLC purchased a new position in PepsiCo in the 4th quarter worth approximately $3,369,000. Nomura Asset Management Co. Ltd. grew its position in shares of PepsiCo by 12.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 866,689 shares of the company’s stock valued at $103,933,000 after acquiring an additional 98,727 shares during the period. Guardian Capital Advisors LP grew its position in shares of PepsiCo by 1.9% during the 4th quarter. Guardian Capital Advisors LP now owns 85,481 shares of the company’s stock valued at $10,272,000 after acquiring an additional 1,594 shares during the period. Aristotle Atlantic Partners LLC bought a new stake in shares of PepsiCo during the 4th quarter valued at $318,000. Finally, WealthShield LLC bought a new position in PepsiCo in the 4th quarter worth $763,000. Hedge funds and other institutional investors own 70.03% of the company’s stock.

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About PepsiCo

PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).

The Fly

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