PepsiCo Inc [PEP] stock Upgrade by Morgan Stanley analyst, price target now $190

PepsiCo Inc [NASDAQ: PEP] plunged by -$1.54 during the normal trading session on while it closed the day at $171.44. The company report on April 2, 2024 at 9:02 AM that Frito-Lay® and Rockstar® Energy Drink Announce Multi-Year Sponsorship of Leagues Cup Tournament.

Lay’s®, Sabritas®, Gamesa®, and Rockstar® Energy Drink will join forces to help fuel soccer fandom as official snacks and energy drink of Leagues Cup 2024.

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Lay’s®, Sabritas®, Gamesa®, and Rockstar® Energy Drink today announced a multi-year sponsorship of Leagues Cup, the official, World Cup-style tournament that features all 47 clubs from Major League Soccer (MLS) and LIGA MX. This partnership further solidifies Frito-Lay’s and Rockstar’s commitment to the sport and enhances soccer fans’ viewing experience with a delicious lineup of salty snacks, cookies, crackers, and energy drinks.

PepsiCo Inc stock has also loss -0.67% of its value over the past 7 days. However, PEP stock has inclined by 0.94% in the 3 months of the year. Over the past six months meanwhile, it has gained 1.18% and gained 0.94% year-on date.

The market cap for PEP stock reached $235.63 billion, with 1.37 billion shares outstanding and 1.37 billion shares in the current float. Compared to the average trading volume of 5.92M shares, PEP reached a trading volume of 4876631 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about PepsiCo Inc [PEP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PEP shares is $186.77 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PEP stock is a recommendation set at 2.13. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for PepsiCo Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on March 18, 2024. While these analysts kept the previous recommendation, Citigroup raised their target price from $180 to $195. The new note on the price target was released on February 12, 2024, representing the official price target for PepsiCo Inc stock. Previously, the target price had yet another drop from $185 to $176, while JP Morgan kept a Neutral rating on PEP stock.

The Average True Range (ATR) for PepsiCo Inc is set at 2.31, with the Price to Sales ratio for PEP stock in the period of the last 12 months amounting to 2.58. The Price to Book ratio for the last quarter was 12.73, with the Price to Cash per share for the same quarter was set at 7.28. Price to Free Cash Flow for PEP in the course of the last twelve months was 29.74 with Quick ratio for the last quarter at 0.68.

PEP stock trade performance evaluation

PepsiCo Inc [PEP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.67. With this latest performance, PEP shares gained by 4.16% in over the last four-week period, additionally plugging by 1.18% over the last 6 months – not to mention a drop of -5.19% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PEP stock in for the last two-week period is set at 55.74, with the RSI for the last a single of trading hit 54.20, and the three-weeks RSI is set at 55.07 for PepsiCo Inc [PEP]. The present Moving Average for the last 50 days of trading for this stock 168.51, while it was recorded at 173.15 for the last single week of trading, and 172.72 for the last 200 days.

PepsiCo Inc [PEP]: An insightful look at the core fundamentals

PepsiCo Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.68 and a Current Ratio set at 0.85.

Earnings per share (EPS) analysis for PepsiCo Inc [PEP] stock

With the latest financial reports released by the company, PepsiCo Inc posted 1.5/share EPS, while the average EPS was predicted by analysts to be reported at 1.39/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 7.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PEP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for PepsiCo Inc go to 7.01%.

PepsiCo Inc [PEP]: Institutional Ownership

The top three institutional holders of PEP stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in PEP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in PEP stock with ownership which is approximately 5.8386%.