JPMorgan Chase & Co. Has Lowered Expectations for PepsiCo (NASDAQ:PEP) Stock Price

PepsiCo (NASDAQ:PEP) had its target price lowered by analysts at JPMorgan Chase & Co. from $183.00 to $165.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 10.65% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a report on Wednesday. Bank of America cut their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. UBS Group lowered their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Royal Bank of Canada cut their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Finally, Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and an average price target of $177.00.

PepsiCo Stock Performance

PEP opened at $149.12 on Friday. The stock has a market cap of $204.59 billion, a PE ratio of 21.99, a P/E/G ratio of 2.86 and a beta of 0.54. PepsiCo has a 1 year low of $141.51 and a 1 year high of $183.41. The stock’s 50 day simple moving average is $153.88 and its 200-day simple moving average is $165.31. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

Institutional Investors Weigh In On PepsiCo

Hedge funds and other institutional investors have recently made changes to their positions in the company. Global Wealth Strategies & Associates lifted its stake in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares during the period. Highline Wealth Partners LLC acquired a new position in shares of PepsiCo during the 3rd quarter worth about $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of PepsiCo in the 3rd quarter valued at approximately $31,000. Rakuten Securities Inc. grew its holdings in PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the period. Finally, Mattson Financial Services LLC bought a new stake in PepsiCo in the second 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.