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

PepsiCo (NASDAQ:PEP) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Other research analysts have also issued reports about the company. HSBC raised their target price on PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. UBS Group restated a “buy” rating and set a $172.00 price objective on shares of PepsiCo in a research report on Tuesday. Jefferies Financial Group upped their target price on PepsiCo from $163.00 to $164.00 and gave the company a “hold” rating in a report on Tuesday. Evercore ISI raised their price target on shares of PepsiCo from $150.00 to $152.00 in a report on Friday, October 10th. Finally, Piper Sandler boosted their price target on shares of PepsiCo from $161.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday. Eight research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $158.35.

PepsiCo Stock Performance

PepsiCo stock opened at $150.65 on Friday. The business has a 50 day moving average of $147.30 and a 200-day moving average of $142.22. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. PepsiCo has a 1 year low of $127.60 and a 1 year high of $160.15. The company has a market capitalization of $205.99 billion, a P/E ratio of 28.64, a P/E/G ratio of 5.14 and a beta of 0.42.

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

Hedge Funds Weigh In On PepsiCo

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP grew its stake in shares of PepsiCo by 6.6% in the 3rd quarter. Allworth Financial LP now owns 80,416 shares of the company’s stock valued at $11,294,000 after buying an additional 4,978 shares during the period. IFP Advisors Inc boosted its holdings in PepsiCo by 5.1% in the third quarter. IFP Advisors Inc now owns 20,191 shares of the company’s stock worth $2,836,000 after acquiring an additional 977 shares in the last quarter. Swiss Life Asset Management Ltd grew its stake in PepsiCo by 1.0% in the third quarter. Swiss Life Asset Management Ltd now owns 372,936 shares of the company’s stock valued at $52,375,000 after acquiring an additional 3,730 shares during the period. Stillwater Wealth Management Group bought a new stake in shares of PepsiCo during the third quarter valued at approximately $308,000. Finally, Tevis Investment Management raised its position in shares of PepsiCo by 7.3% during the third quarter. Tevis Investment Management now owns 9,459 shares of the company’s stock worth $1,328,000 after purchasing an additional 644 shares during the period. Institutional investors own 73.07% of the company’s stock.

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.