Royal Bank of Canada Cuts PepsiCo (NASDAQ:PEP) Price Target to $177.00

PepsiCo (NASDAQ:PEP) had its price objective reduced by Royal Bank of Canada from $180.00 to $177.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 6.20% from the stock’s previous close.

Several other equities analysts also recently issued reports on the company. TD Cowen decreased their price objective on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. JPMorgan Chase & Co. lifted their price objective on shares of PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a research note on Wednesday, June 26th. BNP Paribas began coverage on shares of PepsiCo in a research report on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price for the company. Argus lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, Bank of America lowered their price objective on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $185.80.

PepsiCo Stock Performance

PEP traded up $2.71 on Friday, hitting $166.66. 1,451,242 shares of the company’s stock were exchanged, compared to its average volume of 5,493,667. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. The stock has a fifty day moving average of $171.12 and a two-hundred day moving average of $169.99. PepsiCo has a twelve month low of $155.83 and a twelve month high of $192.38. The firm has a market cap of $229.12 billion, a PE ratio of 25.11, a P/E/G ratio of 2.84 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.12. The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The business’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the business posted $2.09 EPS. On average, research analysts anticipate that PepsiCo will post 8.15 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the transaction, the chief executive officer now owns 53,953 shares in the company, valued at approximately $9,603,634. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.15% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. LFA Lugano Financial Advisors SA boosted its position in PepsiCo by 80.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock valued at $27,000 after buying an additional 70 shares in the last quarter. Valued Wealth Advisors LLC boosted its stake in PepsiCo by 77.5% in the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after acquiring an additional 69 shares during the last quarter. Fortis Group Advisors LLC grew its holdings in PepsiCo by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after acquiring an additional 97 shares during the period. Life Planning Partners Inc bought a new stake in shares of PepsiCo during the 4th quarter valued at $34,000. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of PepsiCo in the 1st quarter worth $35,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

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.