PepsiCo (NASDAQ:PEP) Rating Lowered to “Equal Weight” at Barclays

PepsiCo (NASDAQ:PEP) was downgraded by equities research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued on Tuesday, Marketbeat reports. They presently have a $156.00 target price on the stock, down from their prior target price of $168.00. Barclays‘s price objective would indicate a potential upside of 5.33% from the stock’s current price.

Several other research analysts have also weighed in on PEP. Wells Fargo & Company lowered their price objective on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. BNP Paribas lowered their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Morgan Stanley lowered their price target on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. CICC Research reiterated a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. Finally, Royal Bank of Canada began coverage on PepsiCo in a research note on Tuesday, February 4th. They issued a $172.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, PepsiCo currently has an average rating of “Hold” and an average price target of $169.88.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $148.11 on Tuesday. The business has a 50 day simple moving average of $148.97 and a two-hundred day simple moving average of $159.50. PepsiCo has a 12 month low of $141.51 and a 12 month high of $183.41. The stock has a market capitalization of $203.13 billion, a P/E ratio of 21.31, a PEG ratio of 3.09 and a beta of 0.52. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. The business had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business’s revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.78 earnings per share. As a group, analysts predict that PepsiCo will post 8.3 EPS for the current fiscal year.

Hedge Funds Weigh In On PepsiCo

Hedge funds have recently made changes to their positions in the company. Collier Financial purchased a new position in shares of PepsiCo during the fourth quarter worth about $28,000. WealthTrak Capital Management LLC purchased a new position in shares of PepsiCo during the fourth quarter worth about $28,000. Creative Capital Management Investments LLC purchased a new position in shares of PepsiCo during the fourth quarter worth about $30,000. Prudent Man Investment Management Inc. purchased a new position in shares of PepsiCo during the fourth quarter worth about $30,000. Finally, Legacy Investment Solutions LLC purchased a new stake in PepsiCo in the 3rd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Company Profile

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.