PepsiCo (NASDAQ:PEP) Given New $165.00 Price Target at Royal Bank Of Canada

PepsiCo (NASDAQ:PEP) had its price target raised by equities researchers at Royal Bank Of Canada from $156.00 to $165.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential downside of 2.06% from the company’s previous close.

PEP has been the subject of a number of other reports. BNP Paribas Exane set a $191.00 price target on shares of PepsiCo in a report on Wednesday, February 4th. Citigroup increased their target price on shares of PepsiCo from $170.00 to $182.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. HSBC lifted their target price on PepsiCo from $152.00 to $175.00 and gave the stock a “hold” rating in a research report on Thursday, February 5th. Morgan Stanley upped their price target on PepsiCo from $165.00 to $180.00 and gave the company an “equal weight” rating in a report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. lifted their price objective on PepsiCo from $164.00 to $176.00 and gave the stock an “overweight” rating in a report on Wednesday, February 4th. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $168.50.

PepsiCo Trading Down 0.7%

PepsiCo stock opened at $168.48 on Monday. PepsiCo has a 52 week low of $127.60 and a 52 week high of $171.48. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.67 and a current ratio of 0.85. The firm has a market capitalization of $230.25 billion, a PE ratio of 28.07, a PEG ratio of 3.25 and a beta of 0.39. The business’s 50-day simple moving average is $153.15 and its 200-day simple moving average is $148.83.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Monday, February 2nd. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.02. The company had revenue of $29.34 billion during the quarter, compared to analysts’ expectations of $28.96 billion. PepsiCo had a return on equity of 57.92% and a net margin of 8.77%.PepsiCo’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.96 earnings per share. Equities research analysts forecast that PepsiCo will post 8.3 earnings per share for the current year.

PepsiCo announced that its Board of Directors has approved a stock buyback plan on Tuesday, February 3rd that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 4.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On PepsiCo

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cypress Capital Management LLC WY boosted its holdings in shares of PepsiCo by 8.3% in the 4th quarter. Cypress Capital Management LLC WY now owns 838 shares of the company’s stock worth $121,000 after acquiring an additional 64 shares in the last quarter. United Bank boosted its stake in PepsiCo by 3.9% in the fourth quarter. United Bank now owns 1,717 shares of the company’s stock worth $246,000 after purchasing an additional 65 shares in the last quarter. Three Bridge Wealth Advisors LLC grew its holdings in shares of PepsiCo by 1.8% during the third quarter. Three Bridge Wealth Advisors LLC now owns 3,870 shares of the company’s stock worth $544,000 after purchasing an additional 68 shares during the last quarter. Koa Wealth Management LLC increased its stake in shares of PepsiCo by 0.9% in the fourth quarter. Koa Wealth Management LLC now owns 8,007 shares of the company’s stock valued at $1,149,000 after buying an additional 68 shares in the last quarter. Finally, Pettinga Financial Advisors LLC raised its holdings in shares of PepsiCo by 3.8% in the fourth quarter. Pettinga Financial Advisors LLC now owns 1,880 shares of the company’s stock valued at $270,000 after buying an additional 68 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.