PepsiCo (PEP) Downgraded by BidaskClub to Hold

PepsiCo (NASDAQ:PEP) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other brokerages have also weighed in on PEP. ValuEngine upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Saturday, December 1st. Zacks Investment Research reiterated a “sell” rating on shares of PepsiCo in a research note on Monday, December 31st. Macquarie set a $122.00 target price on shares of PepsiCo and gave the company an “outperform” rating in a research note on Friday, September 28th. Finally, Deutsche Bank decreased their target price on shares of PepsiCo from $118.00 to $116.00 and set a “hold” rating for the company in a research note on Wednesday, October 3rd. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. PepsiCo has a consensus rating of “Hold” and a consensus target price of $117.50.

Shares of NASDAQ PEP opened at $109.39 on Wednesday. PepsiCo has a twelve month low of $95.94 and a twelve month high of $122.51. The company has a market capitalization of $152.93 billion, a P/E ratio of 20.92, a PEG ratio of 2.64 and a beta of 0.67. The company has a quick ratio of 1.15, a current ratio of 1.31 and a debt-to-equity ratio of 2.95.

In other news, CEO Mike Spanos sold 20,074 shares of the business’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $112.42, for a total transaction of $2,256,719.08. Following the completion of the sale, the chief executive officer now owns 35,520 shares of the company’s stock, valued at approximately $3,993,158.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mehmood Khan sold 168,295 shares of the business’s stock in a transaction on Tuesday, October 23rd. The shares were sold at an average price of $110.12, for a total transaction of $18,532,645.40. Following the sale, the executive vice president now directly owns 173,702 shares of the company’s stock, valued at approximately $19,128,064.24. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

A number of institutional investors have recently modified their holdings of PEP. Highwater Wealth Management LLC bought a new position in shares of PepsiCo during the 4th quarter valued at about $28,000. Sound Income Strategies LLC raised its position in shares of PepsiCo by 50.8% during the 4th quarter. Sound Income Strategies LLC now owns 597 shares of the company’s stock valued at $66,000 after buying an additional 201 shares in the last quarter. Mainstay Capital Management LLC ADV raised its position in shares of PepsiCo by 10,787.0% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 10,887 shares of the company’s stock valued at $100,000 after buying an additional 10,787 shares in the last quarter. Prime Capital Investment Advisors LLC raised its position in shares of PepsiCo by 351.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 903 shares of the company’s stock valued at $101,000 after buying an additional 703 shares in the last quarter. Finally, WealthTrust Arizona LLC raised its position in shares of PepsiCo by 268.7% during the 3rd quarter. WealthTrust Arizona LLC now owns 1,106 shares of the company’s stock valued at $124,000 after buying an additional 806 shares in the last quarter. 70.05% of the stock is owned by institutional investors.

About PepsiCo

PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.

Further Reading: Liquidity

Analyst Recommendations for PepsiCo (NASDAQ:PEP)

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