Morgan Stanley Increases PepsiCo (NASDAQ:PEP) Price Target to $149.00
PepsiCo (NASDAQ:PEP) had its price target boosted by equities research analysts at Morgan Stanley from $143.00 to $149.00 in a research note issued to investors on Wednesday, The Fly reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 9.36% from the stock’s current price. The analysts noted that the move was a valuation call.
Other analysts also recently issued research reports about the stock. Atlantic Securities assumed coverage on shares of PepsiCo in a research report on Monday, July 29th. They set an “overweight” rating and a $145.00 target price for the company. ValuEngine raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, August 27th. BidaskClub raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. BMO Capital Markets reissued an “average” rating and issued a $128.00 price target on shares of PepsiCo in a research report on Wednesday, July 10th. Finally, Wells Fargo & Co increased their price target on PepsiCo from $120.00 to $127.00 and gave the company a “positive” rating in a research report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company’s stock. PepsiCo presently has a consensus rating of “Buy” and an average target price of $130.50.
PEP traded down $1.04 during trading on Wednesday, reaching $136.25. 122,108 shares of the stock were exchanged, compared to its average volume of 3,696,356. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.66 and a current ratio of 0.86. The stock’s 50 day moving average price is $132.01 and its two-hundred day moving average price is $127.77. PepsiCo has a twelve month low of $104.53 and a twelve month high of $139.18. The stock has a market cap of $189.96 billion, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 3.53 and a beta of 0.56.
In other PepsiCo news, CEO Kirk Tanner sold 9,573 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $128.15, for a total value of $1,226,779.95. Following the completion of the transaction, the chief executive officer now owns 105,350 shares in the company, valued at approximately $13,500,602.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Steven C. Williams sold 2,420 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $133.95, for a total value of $324,159.00. Following the completion of the transaction, the chief executive officer now owns 54,920 shares of the company’s stock, valued at approximately $7,356,534. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Personal Wealth Partners bought a new stake in PepsiCo in the 2nd quarter worth approximately $25,000. Krane Funds Advisors LLC bought a new stake in PepsiCo in the 2nd quarter worth approximately $25,000. Evolution Wealth Advisors LLC bought a new stake in PepsiCo in the 2nd quarter worth approximately $27,000. Financial Advantage Inc. bought a new stake in PepsiCo in the 2nd quarter worth approximately $28,000. Finally, Mackey Komara & Dankovich LLC lifted its position in PepsiCo by 199.0% in the 2nd quarter. Mackey Komara & Dankovich LLC now owns 858 shares of the company’s stock worth $38,000 after buying an additional 571 shares during the last quarter. Institutional investors and hedge funds own 71.51% of the company’s stock.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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