Fintel reports that on December 12, 2024, Deutsche Bank upgraded their outlook for PepsiCo (NasdaqGS:PEP) from Hold to Buy.
Analyst Price Forecast Suggests 18.81% Upside
As of December 3, 2024, the average one-year price target for PepsiCo is $186.25/share. The forecasts range from a low of $149.48 to a high of $207.90. The average price target represents an increase of 18.81% from its latest reported closing price of $156.77 / share.
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The projected annual revenue for PepsiCo is 93,354MM, an increase of 1.56%. The projected annual non-GAAP EPS is 7.98.
What is the Fund Sentiment?
There are 4,587 funds or institutions reporting positions in PepsiCo. This is an increase of 43 owner(s) or 0.95% in the last quarter. Average portfolio weight of all funds dedicated to PEP is 0.58%, an increase of 4.27%. Total shares owned by institutions increased in the last three months by 1.93% to 1,137,656K shares. 
The put/call ratio of PEP is 0.84, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 43,556K shares representing 3.14% ownership of the company. In its prior filing, the firm reported owning 43,430K shares , representing an increase of 0.29%. The firm decreased its portfolio allocation in PEP by 2.88% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 35,974K shares representing 2.59% ownership of the company. In its prior filing, the firm reported owning 35,285K shares , representing an increase of 1.92%. The firm decreased its portfolio allocation in PEP by 3.26% over the last quarter.
Geode Capital Management holds 30,497K shares representing 2.20% ownership of the company. In its prior filing, the firm reported owning 29,954K shares , representing an increase of 1.78%. The firm decreased its portfolio allocation in PEP by 49.30% over the last quarter.
Bank Of America holds 27,037K shares representing 1.95% ownership of the company. In its prior filing, the firm reported owning 27,092K shares , representing a decrease of 0.20%. The firm decreased its portfolio allocation in PEP by 75.72% over the last quarter.
Invesco Qqq Trust, Series 1 holds 26,676K shares representing 1.92% ownership of the company. In its prior filing, the firm reported owning 26,479K shares , representing an increase of 0.74%. The firm increased its portfolio allocation in PEP by 1.61% over the last quarter.
PepsiCo Background Information
(This description is provided by the company.)
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $67 billion in net revenue in 2019, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including 23 brands that generate more than $1 billion each in estimated annual retail sales. Guiding PepsiCo is our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose. "Winning with Purpose" reflects our ambition to win sustainably in the marketplace and embed purpose into all aspects of the business
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