Wells Fargo & Company Cuts PepsiCo (NASDAQ:PEP) Price Target to $170.00

PepsiCo (NASDAQ:PEP) had its price target reduced by investment analysts at Wells Fargo & Company from $175.00 to $170.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 4.78% from the stock’s current price.

PEP has been the topic of several other reports. BNP Paribas initiated coverage on shares of PepsiCo in a research report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. Bank of America cut their target price on PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday. Argus cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a research report on Monday, March 18th. Finally, TD Cowen decreased their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.00.

PepsiCo Trading Up 0.2 %

PepsiCo stock traded up $0.34 during mid-day trading on Wednesday, hitting $162.24. 1,476,305 shares of the company’s stock were exchanged, compared to its average volume of 5,443,139. The company’s 50 day simple moving average is $171.59 and its 200-day simple moving average is $170.07. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $223.05 billion, a P/E ratio of 24.40, a PEG ratio of 2.67 and a beta of 0.52. PepsiCo has a fifty-two week low of $155.83 and a fifty-two week high of $192.38.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.09. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The business had revenue of $18.25 billion for the quarter, compared to analysts’ expectations of $18.08 billion. During the same quarter in the previous year, the business posted $1.50 EPS. PepsiCo’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts anticipate that PepsiCo will post 8.15 earnings per share for the current year.

Insider Transactions at PepsiCo

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the sale, the chief executive officer now owns 53,953 shares in the company, valued at $9,603,634. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Institutional Trading of PepsiCo

Several hedge funds have recently added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA boosted its holdings in PepsiCo by 80.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock valued at $27,000 after purchasing an additional 70 shares during the period. Valued Wealth Advisors LLC lifted its position in shares of PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after acquiring an additional 69 shares during the period. Fortis Group Advisors LLC lifted its position in PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 97 shares during the period. Kathleen S. Wright Associates Inc. acquired a new position in shares of PepsiCo in the 1st quarter valued at approximately $35,000. Finally, Life Planning Partners Inc acquired a new position in PepsiCo during the fourth quarter valued at approximately $34,000. 73.07% of the stock is owned by institutional investors and hedge funds.

About PepsiCo

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.