Evercore ISI Issues Positive Forecast for PepsiCo (NASDAQ:PEP) Stock Price

Key Points

• Evercore ISI has raised its price target for PepsiCo (NASDAQ:PEP) from $150.00 to $152.00, indicating a potential upside of 2.75% from the stock's previous close.
• PepsiCo's latest quarterly earnings report showed an EPS of $2.29, surpassing analyst expectations of $2.26, and a revenue of $23.94 billion, slightly above the anticipated $23.91 billion.
• The stock has a consensus rating of "Hold" from analysts, with an average price target of $158.25, while five analysts rated it as a Buy.

PepsiCo (NASDAQ:PEP - Get Free Report) had its price target increased by equities research analysts at Evercore ISI from $150.00 to $152.00 in a report issued on Friday,MarketScreener reports. Evercore ISI's price objective indicates a potential upside of 2.75% from the stock's previous close.

A number of other brokerages have also recently commented on PEP. BNP Paribas Exane decreased their price objective on PepsiCo from $152.00 to $150.00 and set a "neutral" rating for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. UBS Group cut their price target on shares of PepsiCo from $175.00 to $170.00 and set a "buy" rating on the stock in a research report on Thursday, September 11th. Barclays boosted their price objective on shares of PepsiCo from $140.00 to $142.00 and gave the company an "equal weight" rating in a report on Friday. Finally, Wells Fargo & Company set a $154.00 price target on shares of PepsiCo and gave the stock a "positive" rating in a research report on Friday. Five investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $158.25.

PepsiCo Stock Up 2.2%

Shares of NASDAQ PEP opened at $147.93 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12. The firm has a market capitalization of $202.53 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 3.50 and a beta of 0.46. The firm's 50-day moving average is $144.32 and its 200-day moving average is $139.29. PepsiCo has a 1 year low of $127.60 and a 1 year high of $177.50.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data on Thursday, October 9th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.26 by $0.03. The firm had revenue of $23.94 billion for the quarter, compared to analysts' expectations of $23.91 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The business's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $2.31 earnings per share. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. Equities analysts expect that PepsiCo will post 8.3 EPS for the current year.

Hedge Funds Weigh In On PepsiCo

A number of large investors have recently added to or reduced their stakes in the company. KMG Fiduciary Partners LLC lifted its holdings in shares of PepsiCo by 2.2% in the third quarter. KMG Fiduciary Partners LLC now owns 25,434 shares of the company's stock valued at $3,572,000 after purchasing an additional 559 shares in the last quarter. Signal Advisors Wealth LLC lifted its stake in PepsiCo by 38.0% in the 3rd quarter. Signal Advisors Wealth LLC now owns 10,334 shares of the company's stock valued at $1,451,000 after acquiring an additional 2,843 shares in the last quarter. Independence Bank of Kentucky boosted its position in PepsiCo by 1.5% during the 3rd quarter. Independence Bank of Kentucky now owns 39,720 shares of the company's stock worth $5,578,000 after acquiring an additional 582 shares during the last quarter. Baker Tilly Wealth Management LLC grew its stake in shares of PepsiCo by 33.8% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 2,966 shares of the company's stock worth $417,000 after acquiring an additional 749 shares in the last quarter. Finally, Lifestyle Asset Management Inc. acquired a new stake in shares of PepsiCo in the third quarter valued at approximately $230,000. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.