Piper Sandler Begins Coverage on PepsiCo (NASDAQ:PEP)

Equities researchers at Piper Sandler started coverage on shares of PepsiCo (NASDAQ:PEP) in a report issued on Tuesday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $171.00 price target on the stock. Piper Sandler’s price objective suggests a potential upside of 16.69% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Royal Bank of Canada reduced their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research note on Friday, September 20th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft raised shares of PepsiCo from a “hold” rating to a “buy” rating and raised their price objective for the stock from $179.00 to $184.00 in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $180.64.

PepsiCo Price Performance

NASDAQ PEP opened at $146.54 on Tuesday. The company has a market cap of $201.05 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 2.94 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The stock’s fifty day moving average price is $158.20 and its 200 day moving average price is $166.82. PepsiCo has a 1 year low of $144.56 and a 1 year high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.01. The firm had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the business posted $2.25 earnings per share. As a group, equities research analysts forecast that PepsiCo will post 8.15 earnings per share for the current year.

Hedge Funds Weigh In On PepsiCo

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global Wealth Strategies & Associates boosted its position in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares during the last quarter. Cross Staff Investments Inc increased its holdings in shares of PepsiCo by 0.9% during the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock worth $1,204,000 after buying an additional 60 shares during the last quarter. Paulson Wealth Management Inc. raised its position in shares of PepsiCo by 2.1% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after buying an additional 60 shares during the period. LCM Capital Management Inc grew its position in PepsiCo by 0.8% in the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock worth $1,288,000 after acquiring an additional 62 shares during the period. Finally, Demars Financial Group LLC increased its stake in PepsiCo by 1.1% during the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock worth $973,000 after acquiring an additional 62 shares during the last quarter. Institutional investors and hedge funds 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.