Bank of America Issues Positive Forecast for PepsiCo (NASDAQ:PEP) Stock Price

Key Points

• Bank of America has raised its price target for PepsiCo (NASDAQ:PEP) from $150.00 to $155.00, maintaining a "neutral" rating on the stock, which indicates a potential upside of 3.28% from the previous close.
• Other brokerages, including Wells Fargo and Morgan Stanley, have also increased their price targets for PepsiCo, resulting in a consensus rating of "Hold" with a target price of $158.88.
• PepsiCo's recent earnings report exceeded analysts' expectations with an EPS of $2.29 compared to the projected $2.26, alongside a revenue of $23.94 billion for the quarter.

PepsiCo (NASDAQ:PEP - Get Free Report) had its price objective boosted by equities researchers at Bank of America from $150.00 to $155.00 in a research note issued on Friday,MarketScreener reports. The firm currently has a "neutral" rating on the stock. Bank of America's price objective suggests a potential upside of 3.28% from the stock's previous close.

A number of other brokerages have also weighed in on PEP. Wells Fargo & Company upped their target price on shares of PepsiCo from $150.00 to $154.00 and gave the stock a "positive" rating in a research note on Friday. Morgan Stanley upped their price objective on PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Citigroup dropped their target price on PepsiCo from $168.00 to $165.00 and set a "buy" rating on the stock in a research report on Thursday, September 25th. Piper Sandler boosted their target price on PepsiCo from $160.00 to $162.00 and gave the company an "overweight" rating in a research note on Friday. Finally, Evercore ISI raised their price target on shares of PepsiCo from $150.00 to $152.00 in a research note on Friday. Five research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. According to MarketBeat.com, PepsiCo presently has a consensus rating of "Hold" and a consensus price target of $158.88.

PepsiCo Trading Up 3.7%

NASDAQ PEP opened at $150.08 on Friday. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60. The stock's 50-day moving average is $144.53 and its 200-day moving average is $139.32. PepsiCo has a one year low of $127.60 and a one year high of $177.50. The firm has a market cap of $205.47 billion, a P/E ratio of 28.53, a P/E/G ratio of 3.62 and a beta of 0.46.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its earnings results on Thursday, October 9th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.26 by $0.03. The business had revenue of $23.94 billion during the quarter, compared to analysts' expectations of $23.91 billion. PepsiCo had a return on equity of 58.46% and a net margin of 7.82%.PepsiCo's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.31 EPS. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. Sell-side analysts anticipate that PepsiCo will post 8.3 earnings per share for the current fiscal year.

Institutional Trading of PepsiCo

Large investors have recently added to or reduced their stakes in the company. First Bank & Trust grew its position in shares of PepsiCo by 45.5% in the 3rd quarter. First Bank & Trust now owns 9,781 shares of the company's stock valued at $1,374,000 after acquiring an additional 3,060 shares during the period. Charles Schwab Trust Co lifted its stake in PepsiCo by 1.5% in the 3rd quarter. Charles Schwab Trust Co now owns 6,919 shares of the company's stock valued at $972,000 after purchasing an additional 102 shares during the last quarter. Thomasville National Bank grew its holdings in PepsiCo by 9.3% during the third quarter. Thomasville National Bank now owns 12,977 shares of the company's stock worth $1,822,000 after purchasing an additional 1,105 shares during the period. Seneca House Advisors increased its position in PepsiCo by 12.4% during the third quarter. Seneca House Advisors now owns 6,631 shares of the company's stock worth $931,000 after buying an additional 734 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC raised its stake in PepsiCo by 4.7% in the third quarter. Foster Victor Wealth Advisors LLC now owns 98,065 shares of the company's stock valued at $13,923,000 after buying an additional 4,399 shares during the period. Institutional investors and hedge funds own 73.07% of the company's stock.

About PepsiCo

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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