Jefferies Financial Group Forecasts Strong Price Appreciation for PepsiCo (NASDAQ:PEP) Stock

PepsiCo (NASDAQ:PEP) had its target price raised by stock analysts at Jefferies Financial Group from $163.00 to $164.00 in a report issued on Tuesday,MarketScreener reports. The firm presently has a “hold” rating on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 9.55% from the company’s current price.

PEP has been the subject of a number of other research reports. Piper Sandler boosted their price objective on shares of PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday. Bank of America upped their target price on PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, October 10th. JPMorgan Chase & Co. cut their price target on PepsiCo from $157.00 to $151.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. The Goldman Sachs Group upped their price objective on PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of PepsiCo in a research note on Tuesday, October 14th. Eight analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $158.35.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $149.70 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The company has a market capitalization of $204.69 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 4.95 and a beta of 0.42. PepsiCo has a twelve month low of $127.60 and a twelve month high of $160.51. The business has a 50 day simple moving average of $146.99 and a 200-day simple moving average of $142.02.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The firm had revenue of $23.94 billion during the quarter, compared to the consensus estimate of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.31 earnings per share. As a group, equities research analysts expect that PepsiCo will post 8.3 earnings per share for the current year.

Institutional Trading of PepsiCo

Institutional investors have recently made changes to their positions in the stock. Nova Wealth Management Inc. acquired a new stake in PepsiCo in the first quarter worth approximately $25,000. JCIC Asset Management Inc. acquired a new position in PepsiCo during the third quarter worth about $27,000. Evolution Wealth Management Inc. bought a new stake in PepsiCo in the second quarter worth about $27,000. Legend Financial Advisors Inc. acquired a new stake in PepsiCo in the 2nd quarter valued at about $29,000. Finally, Imprint Wealth LLC bought a new position in shares of PepsiCo during the 3rd quarter valued at about $31,000. 73.07% of the stock is owned by institutional investors and hedge funds.

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.