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

PepsiCo (NASDAQ:PEP) was downgraded by research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Tuesday,Finviz reports. They presently have a $156.00 price target on the stock, down from their prior price target of $168.00. Barclays‘s target price would suggest a potential upside of 3.08% from the stock’s current price.

A number of other research firms have also recently commented on PEP. Piper Sandler started coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. TD Cowen lowered their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Citigroup lowered their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. HSBC lowered their target price on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Finally, Jefferies Financial Group cut shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $169.88.

PepsiCo Price Performance

PepsiCo stock opened at $151.34 on Tuesday. PepsiCo has a 52 week low of $141.51 and a 52 week high of $183.41. The company’s 50 day moving average price is $148.86 and its two-hundred day moving average price is $159.75. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The stock has a market cap of $207.56 billion, a P/E ratio of 21.78, a P/E/G ratio of 3.09 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. The company had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. PepsiCo’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.78 EPS. On average, equities analysts predict that PepsiCo will post 8.3 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Collier Financial purchased a new position in PepsiCo in the fourth quarter worth $28,000. WealthTrak Capital Management LLC purchased a new position in PepsiCo in the fourth quarter worth $28,000. Creative Capital Management Investments LLC purchased a new position in PepsiCo in the fourth quarter worth $30,000. Prudent Man Investment Management Inc. purchased a new stake in PepsiCo during the fourth quarter valued at about $30,000. Finally, Legacy Investment Solutions LLC purchased a new stake in PepsiCo during the third quarter valued at about $31,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

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.