Morgan Stanley Cuts PepsiCo (NASDAQ:PEP) Price Target to $168.00

PepsiCo (NASDAQ:PEP) had its price target reduced by Morgan Stanley from $185.00 to $168.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 15.58% from the stock’s previous close.

Several other research firms have also recently weighed in on PEP. Deutsche Bank Aktiengesellschaft cut their price objective on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Royal Bank of Canada started coverage on PepsiCo in a research report on Tuesday. They issued a $172.00 price objective on the stock. TD Cowen cut their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Barclays cut their price objective on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, UBS Group cut their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $171.47.

PepsiCo Trading Down 0.2 %

NASDAQ PEP opened at $145.35 on Wednesday. The company has a market cap of $199.42 billion, a price-to-earnings ratio of 21.44, a P/E/G ratio of 2.92 and a beta of 0.54. PepsiCo has a 52 week low of $141.51 and a 52 week high of $183.41. The business has a 50 day moving average price of $152.15 and a 200-day moving average price of $164.39. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same quarter in the prior year, the company posted $1.78 earnings per share. PepsiCo’s revenue was down .2% compared to the same quarter last year. As a group, equities analysts expect that PepsiCo will post 8.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PepsiCo

Several institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its holdings in PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after acquiring an additional 2,775,679 shares during the period. Geode Capital Management LLC boosted its holdings in PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after acquiring an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in PepsiCo by 18.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock worth $3,834,504,000 after buying an additional 3,856,193 shares during the period. Bank of New York Mellon Corp lifted its holdings in PepsiCo by 5.2% in the 4th quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company’s stock worth $2,130,841,000 after buying an additional 689,383 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after buying an additional 2,264,445 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

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.