PepsiCo (NASDAQ:PEP) Now Covered by Royal Bank of Canada

Investment analysts at Royal Bank of Canada started coverage on shares of PepsiCo (NASDAQ:PEP) in a report released on Tuesday. The brokerage set a $172.00 price target on the stock. Royal Bank of Canada’s price objective points to a potential upside of 19.66% from the stock’s previous close.

A number of other brokerages also recently weighed in on PEP. UBS Group dropped 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. Deutsche Bank Aktiengesellschaft lowered their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. Wells Fargo & Company lowered their price target on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, Piper Sandler began coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned 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 $174.53.

PepsiCo Stock Down 4.3 %

Shares of PepsiCo stock traded down $6.53 during trading on Tuesday, hitting $143.74. 3,116,546 shares of the stock traded hands, compared to its average volume of 6,421,764. PepsiCo has a 52-week low of $141.51 and a 52-week high of $183.41. The stock’s fifty day simple moving average is $153.12 and its 200 day simple moving average is $164.85. The firm has a market cap of $197.22 billion, a P/E ratio of 21.20, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. On average, equities analysts predict that PepsiCo will post 8.15 earnings per share for the current fiscal year.

Institutional Trading of PepsiCo

A number of institutional investors and hedge funds have recently made changes to their positions in PEP. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo during the third quarter worth approximately $28,000. Collier Financial purchased a new stake in shares of PepsiCo during the fourth quarter worth approximately $28,000. Creative Capital Management Investments LLC purchased a new stake in shares of PepsiCo during the fourth quarter worth approximately $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of PepsiCo during the third quarter worth approximately $31,000. Finally, Rakuten Securities Inc. increased its position in shares of PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares in the last quarter. 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.