PepsiCo (NASDAQ:PEP) Lowered to Hold Rating by Jefferies Financial Group

PepsiCo (NASDAQ:PEP - Get Free Report) was downgraded by Jefferies Financial Group from a "buy" rating to a "hold" rating in a research note issued on Wednesday,Briefing.com Automated Import reports. They currently have a $170.00 price target on the stock, down from their previous price target of $171.00. Jefferies Financial Group's price objective would suggest a potential upside of 11.60% from the company's previous close.

Several other research analysts have also recently issued reports on the company. Piper Sandler began coverage on PepsiCo in a report on Tuesday, January 7th. They issued an "overweight" rating and a $171.00 price target on the stock. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $183.00 to $165.00 and set a "neutral" rating on the stock in a research note on Friday, January 24th. Barclays boosted their target price on shares of PepsiCo from $153.00 to $168.00 and gave the company an "overweight" rating in a research note on Thursday, March 6th. HSBC cut their target price on shares of PepsiCo from $186.00 to $170.00 and set a "hold" rating on the stock in a research note on Tuesday, February 4th. Finally, TD Cowen lowered their price target on shares of PepsiCo from $183.00 to $160.00 and set a "hold" rating on the stock in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $170.59.

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PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $152.33 on Wednesday. PepsiCo has a 12 month low of $141.51 and a 12 month high of $183.41. The stock has a market cap of $208.92 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 3.09 and a beta of 0.52. The stock's 50 day moving average price is $148.90 and its 200 day moving average price is $160.46. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $27.78 billion for the quarter, compared to analysts' expectations of $27.89 billion. During the same quarter in the previous year, the company earned $1.78 earnings per share. The firm's quarterly revenue was down .2% compared to the same quarter last year. Equities research analysts anticipate that PepsiCo will post 8.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Norges Bank bought a new position in PepsiCo in the fourth quarter valued at approximately $2,729,565,000. Raymond James Financial Inc. acquired a new stake in PepsiCo in the fourth quarter worth $589,307,000. Charles Schwab Investment Management Inc. raised its holdings in PepsiCo by 18.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock worth $3,834,504,000 after purchasing an additional 3,856,193 shares during the period. State Street Corp raised its holdings in PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company's stock worth $9,738,429,000 after purchasing an additional 2,775,679 shares during the period. Finally, Franklin Resources Inc. raised its holdings in PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company's stock worth $2,293,049,000 after purchasing an additional 2,264,445 shares during the period. Institutional investors and hedge funds own 73.07% of the company's stock.

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.

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