JPMorgan Chase & Co. raises the price target for PepsiCo (NASDAQ:PEP) to $185.00

PepsiCo (NASDAQ:PEP – Get a Free Report) had its price target raised by stock analysts at JPMorgan Chase & Co. from $182.00 to $185.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s target price indicates a potential upside of 7.90% from the company’s current price.

PEP has been the subject of a number of other research reports. Jefferies Financial Group lowered their price objective on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a report on Friday, September 20. TD Cowen decreased their price objective on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Royal Bank of Canada cut their price target on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Finally, BNP Paribas started coverage on PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 price target for the company. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $185.40, according to MarketBeat.

See our latest research report on PEP

PepsiCo stock down 0.8%

PEP stock traded up $1.41 during mid-day trading on Tuesday, hitting $171.46. The stock had a trading volume of 3,086,360 shares, compared to its average volume of 5,477,986. The company has a current ratio of 0.83, a quick ratio of 0.64, and a debt-to-equity ratio of 1.87. PepsiCo has a 1 year low of $155.83 and a 1 year high of $183.41. The company has a fifty day moving average of $173.82 and a 200 day moving average of $172.12. The stock has a market cap of $235.72 billion, a price-to-earnings ratio of 24.88, a PEG ratio of 2.93 and a beta of 0.53.

PepsiCo (NASDAQ:PEP – Get Your Free Report ) last released its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.12. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company’s revenue was up 0.8% compared to the same quarter last year. During the same period in the previous year, the firm posted EPS of $2.09. On average, equities analysts expect that PepsiCo will post 8.14 EPS for the current fiscal year.

Institutional investors are weighing in on PepsiCo

Hedge funds and other institutional investors have recently made changes to their positions in the company. Flossbach Von Storch AG boosted its position in shares of PepsiCo by 67.2% in the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after buying an additional 1,832,385 shares in the last quarter. PineStone Asset Management Inc. boosted its position in shares of PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after buying an additional 1,523,631 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of PepsiCo by 429.3% in the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after buying an additional 1,179,922 shares in the last quarter. Confluence Investment Management LLC bought a new position in shares of PepsiCo in the first quarter worth $166,243,000. Finally, Legal & General Group Plc boosted its holdings in PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after purchasing an additional 905,468 shares in the last quarter. 73.07% of shares are owned by institutional investors and hedge funds.

PepsiCo Company Profile

(Get a free report)

PepsiCo, Inc is engaged in the production, marketing, distribution and sale of various beverages and convenience 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 the Asia Pacific region, Australia and New Zealand and China.

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