PepsiCo’s (PEP) Sector Perform Rating Reiterated at Royal Bank of Canada

PepsiCo (NASDAQ:PEP)‘s stock had its “sector perform” rating reaffirmed by stock analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $172.00 price target on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 13.23% from the stock’s previous close.

PEP has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft reduced their price objective on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Wells Fargo & Company reduced their price objective on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, Piper Sandler initiated coverage on PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, PepsiCo has an average rating of “Hold” and an average price target of $176.73.

PepsiCo Stock Up 1.0 %

PEP opened at $151.90 on Wednesday. The stock has a market cap of $208.41 billion, a PE ratio of 22.40, a P/E/G ratio of 2.86 and a beta of 0.54. 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 has a 52 week low of $141.51 and a 52 week high of $183.41. The business’s fifty day simple moving average is $153.51 and its 200 day simple moving average is $165.07.

Institutional Trading of PepsiCo

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Global Wealth Strategies & Associates lifted its holdings in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo during the third quarter valued at approximately $28,000. Collier Financial purchased a new position in shares of PepsiCo during the fourth quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo in the 3rd quarter worth approximately $31,000. Finally, Mattson Financial Services LLC purchased a new position in PepsiCo in the 2nd quarter worth approximately $34,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

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.