CICC Research Reaffirms “Market Perform” Rating for PepsiCo (NASDAQ:PEP)

PepsiCo (NASDAQ:PEP)‘s stock had its “market perform” rating reaffirmed by stock analysts at CICC Research in a note issued to investors on Friday,Benzinga reports.

Several other analysts also recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday. Piper Sandler assumed coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. Barclays reduced their price objective on shares of PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a research note on Thursday. Royal Bank of Canada assumed coverage on shares of PepsiCo in a research note on Tuesday. They issued a $172.00 price objective for the company. Finally, BNP Paribas reduced their price objective on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, PepsiCo has a consensus rating of “Hold” and a consensus price target of $171.47.

PepsiCo Trading Down 0.2 %

Shares of PepsiCo stock opened at $145.35 on Friday. PepsiCo has a 1 year low of $141.51 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The company has a market capitalization of $199.42 billion, a P/E ratio of 21.44, a PEG ratio of 2.92 and a beta of 0.54. The company’s fifty day moving average is $152.15 and its two-hundred day moving average is $164.39.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.02. The business had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.78 earnings per share. Analysts forecast that PepsiCo will post 8.15 earnings per share for the current year.

Hedge Funds Weigh In On PepsiCo

A number of institutional investors have recently modified their holdings of the company. Machina Capital S.A.S. raised its position in shares of PepsiCo by 20.3% in the fourth quarter. Machina Capital S.A.S. now owns 7,540 shares of the company’s stock valued at $1,147,000 after buying an additional 1,272 shares during the last quarter. RKL Wealth Management LLC grew its holdings in PepsiCo by 3.1% in the fourth quarter. RKL Wealth Management LLC now owns 13,343 shares of the company’s stock valued at $2,029,000 after purchasing an additional 407 shares during the period. Oak Hill Wealth Advisors LLC grew its holdings in PepsiCo by 224.5% in the fourth quarter. Oak Hill Wealth Advisors LLC now owns 5,884 shares of the company’s stock valued at $895,000 after purchasing an additional 10,611 shares during the period. Aviance Capital Partners LLC grew its holdings in PepsiCo by 6.3% in the fourth quarter. Aviance Capital Partners LLC now owns 17,595 shares of the company’s stock valued at $2,675,000 after purchasing an additional 1,050 shares during the period. Finally, Bradyco Inc. purchased a new stake in PepsiCo in the fourth quarter valued at approximately $2,198,000. 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.