PepsiCo (NASDAQ:PEP) Upgraded by Wall Street Zen to “Buy” Rating

PepsiCo (NASDAQ:PEP) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

A number of other brokerages have also recently issued reports on PEP. UBS Group dropped their price target on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Evercore ISI upped their target price on shares of PepsiCo from $150.00 to $152.00 in a research note on Friday, October 10th. Piper Sandler reduced their price target on shares of PepsiCo from $162.00 to $161.00 and set an “overweight” rating for the company in a research report on Friday, November 21st. Barclays boosted their price objective on shares of PepsiCo from $140.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, October 10th. Finally, Citigroup cut their target price on PepsiCo from $168.00 to $165.00 and set a “buy” rating on the stock in a research note on Thursday, September 25th. Seven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $156.90.

PepsiCo Stock Up 0.6%

NASDAQ:PEP opened at $148.91 on Friday. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The firm’s 50-day moving average price is $146.01 and its 200-day moving average price is $141.02. The company has a market capitalization of $203.61 billion, a PE ratio of 28.31, a P/E/G ratio of 3.56 and a beta of 0.45. PepsiCo has a 1-year low of $127.60 and a 1-year high of $163.65.

PepsiCo (NASDAQ:PEP) last released its earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The business had revenue of $23.94 billion for the quarter, compared to the consensus estimate of $23.91 billion. During the same period in the previous year, the company posted $2.31 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts predict that PepsiCo will post 8.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PEP. Nova Wealth Management Inc. bought a new stake in PepsiCo during the 1st quarter worth approximately $25,000. Evolution Wealth Management Inc. purchased a new stake in shares of PepsiCo in the second quarter worth $27,000. JCIC Asset Management Inc. bought a new stake in shares of PepsiCo during the 3rd quarter valued at $27,000. Legend Financial Advisors Inc. purchased a new position in shares of PepsiCo during the 2nd quarter valued at $29,000. Finally, Vermillion & White Wealth Management Group LLC boosted its holdings in PepsiCo by 107.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after buying an additional 121 shares during the period. Institutional investors 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.