Wells Fargo & Company Has Lowered Expectations for PepsiCo (NASDAQ:PEP) Stock Price

PepsiCo (NASDAQ:PEP) had its price target decreased by investment analysts at Wells Fargo & Company from $155.00 to $150.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 4.26% from the company’s previous close.

A number of other research firms have also commented on PEP. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. decreased their target price on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. Royal Bank of Canada initiated coverage on shares of PepsiCo in a report on Tuesday. They issued a $172.00 target price on the stock. Piper Sandler initiated 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. Finally, Citigroup cut their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus target price of $171.76.

PepsiCo Stock Up 0.3 %

PEP traded up $0.38 during trading hours on Wednesday, hitting $143.87. 1,109,240 shares of the company’s stock were exchanged, compared to its average volume of 6,624,235. The stock has a market cap of $197.38 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 2.92 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. The stock’s 50-day moving average is $152.49 and its two-hundred day moving average is $164.53. PepsiCo has a 1-year low of $141.51 and a 1-year high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. The firm had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the company posted $1.78 earnings per share. Sell-side analysts predict that PepsiCo will post 8.15 earnings per share for the current fiscal year.

Institutional Trading of PepsiCo

Several large investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after buying an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC raised its position in shares of PepsiCo by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after purchasing an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in PepsiCo by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after buying an additional 1,125,059 shares during the last quarter. Bank of New York Mellon Corp raised its position in PepsiCo by 5.2% in the 4th quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company’s stock worth $2,130,841,000 after buying an additional 689,383 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after buying an additional 2,264,445 shares during the last quarter. Institutional investors 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.