PepsiCo (NASDAQ:PEP) Receives “Sector Perform” Rating from Royal Bank of Canada

PepsiCo (NASDAQ:PEP)‘s stock had its “sector perform” rating reissued by investment analysts at Royal Bank of Canada in a research note issued to 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 13.59% from the stock’s previous close.

Several other equities research analysts have also weighed in on PEP. Barclays cut their target price on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Piper Sandler assumed coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, UBS Group cut their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $176.73.

PepsiCo Stock Up 0.8 %

PepsiCo stock traded up $1.17 during mid-day trading on Wednesday, reaching $151.42. 1,727,551 shares of the company’s stock were exchanged, compared to its average volume of 6,583,636. The company has a market cap of $207.75 billion, a P/E ratio of 22.34, a P/E/G ratio of 2.86 and a beta of 0.54. The company has a fifty day moving average of $153.68 and a 200-day moving average of $165.17. PepsiCo has a twelve month low of $141.51 and a twelve month high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

Hedge Funds Weigh In On PepsiCo

Hedge funds and other institutional investors have recently modified their holdings of the company. Clearbridge Investments LLC boosted its position in shares of PepsiCo by 0.7% during the 2nd quarter. Clearbridge Investments LLC now owns 1,405,977 shares of the company’s stock valued at $231,888,000 after purchasing an additional 9,951 shares in the last quarter. RiverFront Investment Group LLC boosted its stake in PepsiCo by 9.1% in the 2nd quarter. RiverFront Investment Group LLC now owns 3,485 shares of the company’s stock worth $575,000 after purchasing an additional 290 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of PepsiCo in the second quarter valued at $141,000. Centennial Bank AR boosted its position in PepsiCo by 1.7% during the 2nd quarter. Centennial Bank AR now owns 5,086 shares of the company’s stock worth $838,000 after acquiring an additional 83 shares during the period. Finally, Creekside Partners acquired a new position in PepsiCo in the 2nd quarter valued at approximately $588,000. 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.