PepsiCo (NASDAQ:PEP) Price Target Cut to $158.00 by Analysts at Barclays

PepsiCo (NASDAQ:PEP) had its price objective reduced by Barclays from $183.00 to $158.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 6.87% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Piper Sandler began coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a report on Friday, September 20th. 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. Finally, Royal Bank of Canada cut their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $178.60.

PepsiCo Price Performance

Shares of NASDAQ PEP traded up $1.30 during mid-day trading on Friday, reaching $147.84. 2,537,793 shares of the company were exchanged, compared to its average volume of 6,650,741. PepsiCo has a 52 week low of $141.51 and a 52 week high of $183.41. The company’s 50 day moving average price is $156.06 and its 200 day moving average price is $166.05. The stock has a market capitalization of $202.83 billion, a PE ratio of 21.80, a PEG ratio of 2.57 and a beta of 0.54. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PEP. Global Wealth Strategies & Associates increased its stake in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo in the 3rd quarter worth approximately $28,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo during the third quarter valued at $31,000. Mattson Financial Services LLC bought a new stake in PepsiCo in the second quarter worth $34,000. Finally, Rakuten Securities Inc. grew its stake in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

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.