PepsiCo (NASDAQ:PEP) Price Target Cut to $170.00 by Analysts at HSBC

PepsiCo (NASDAQ:PEP) had its target price decreased by stock analysts at HSBC from $186.00 to $170.00 in a research report issued on Tuesday. The brokerage presently has a “hold” rating on the stock. HSBC’s price objective points to a potential upside of 18.27% from the stock’s current price.

A number of other brokerages also recently issued reports on PEP. TD Cowen cut their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Piper Sandler initiated coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. Royal Bank of Canada initiated coverage on PepsiCo in a report on Tuesday. They issued a $172.00 price target on the stock. UBS Group cut their price target on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Wells Fargo & Company dropped their target price on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $174.53.

PepsiCo Trading Down 4.3 %

Shares of PEP stock traded down $6.53 on Tuesday, reaching $143.74. 3,116,546 shares of the company’s stock were exchanged, compared to its average volume of 6,421,764. PepsiCo has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $197.22 billion, a PE ratio of 21.20, a P/E/G ratio of 2.92 and a beta of 0.54. The company’s fifty day simple moving average is $153.12 and its 200 day simple moving average is $164.85.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.95 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. As a group, analysts forecast that PepsiCo will post 8.15 EPS for the current year.

Hedge Funds Weigh In On PepsiCo

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cross Staff Investments Inc raised its stake in shares of PepsiCo by 0.9% in the third quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock valued at $1,204,000 after acquiring an additional 60 shares in the last quarter. Paulson Wealth Management Inc. raised its stake in shares of PepsiCo by 2.1% in the third quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after acquiring an additional 60 shares in the last quarter. LCM Capital Management Inc raised its stake in shares of PepsiCo by 0.8% in the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock valued at $1,288,000 after acquiring an additional 62 shares in the last quarter. Demars Financial Group LLC raised its stake in shares of PepsiCo by 1.1% in the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock valued at $973,000 after acquiring an additional 62 shares in the last quarter. Finally, Sigma Investment Counselors Inc. raised its stake in shares of PepsiCo by 1.6% in the third quarter. Sigma Investment Counselors Inc. now owns 4,310 shares of the company’s stock valued at $733,000 after acquiring an additional 66 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

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.