PepsiCo (NASDAQ:PEP) Stock Rating Upgraded by Wall Street Zen

PepsiCo (NASDAQ:PEP) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other equities analysts have also recently weighed in on PEP. Weiss Ratings reissued a “hold (c)” rating on shares of PepsiCo in a research report on Tuesday, October 14th. JPMorgan Chase & Co. upgraded PepsiCo from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $151.00 to $164.00 in a report on Wednesday, December 10th. UBS Group reaffirmed a “buy” rating and set a $172.00 price target on shares of PepsiCo in a research report on Tuesday, December 9th. Barclays boosted their price objective on PepsiCo from $142.00 to $144.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 10th. Finally, Piper Sandler lifted their price target on shares of PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, December 9th. Eight research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $158.35.

PepsiCo Trading Up 1.1%

NASDAQ:PEP opened at $150.65 on Friday. The firm has a market capitalization of $205.99 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 5.20 and a beta of 0.42. PepsiCo has a 1-year low of $127.60 and a 1-year high of $160.15. The business’s 50-day moving average price is $147.30 and its two-hundred day moving average price is $142.37. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $23.94 billion during the quarter, compared to analysts’ expectations of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.PepsiCo’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.31 EPS. On average, equities analysts expect that PepsiCo will post 8.3 earnings per share for the current year.

Hedge Funds Weigh In On PepsiCo

Large investors have recently modified their holdings of the business. Nova Wealth Management Inc. acquired a new position in shares of PepsiCo during the 1st quarter worth approximately $25,000. Evolution Wealth Management Inc. bought a new position in shares of PepsiCo in the second quarter valued at $27,000. JCIC Asset Management Inc. acquired a new position in PepsiCo during the third quarter worth $27,000. Legend Financial Advisors Inc. bought a new stake in PepsiCo during the second quarter worth $29,000. Finally, Vermillion & White Wealth Management Group LLC lifted its stake in PepsiCo by 107.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock valued at $31,000 after acquiring an additional 121 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

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.