Goldman Sachs Sticks to Its Buy Rating for PepsiCo (PEP)

Goldman Sachs analyst Bonnie Herzog reiterated a Buy rating on PepsiCo today and set a price target of $183.00.

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According to TipRanks, Herzog is a 4-star analyst with an average return of 4.2% and a 55.69% success rate. Herzog covers the Consumer Defensive sector, focusing on stocks such as Constellation Brands, PepsiCo, and Philip Morris.

In addition to Goldman Sachs, PepsiCo also received a Buy from J.P. Morgan’s Andrea Faria Teixeira in a report issued on April 8. However, yesterday, Barclays maintained a Hold rating on PepsiCo (NASDAQ: PEP).

Based on PepsiCo’s latest earnings release for the quarter ending March 21, the company reported a quarterly revenue of $19.44 billion and a net profit of $2.34 billion. In comparison, last year the company earned a revenue of $17.92 billion and had a net profit of $1.83 billion

Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PEP in relation to earlier this year. Last month, Eugene Willemsen, the CEO, International Beverages of PEP sold 6,500.00 shares for a total of $1,068,897.98.