Morgan Stanley Sticks to Their Hold Rating for PepsiCo (PEP)
In a report released today, Dara Mohsenian from Morgan Stanley maintained a Hold rating on PepsiCo, with a price target of $158.38.
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Mohsenian covers the Consumer Defensive sector, focusing on stocks such as Clorox, Coca-Cola, and Monster Beverage. According to TipRanks, Mohsenian has an average return of 7.0% and a 61.35% success rate on recommended stocks.
In addition to Morgan Stanley, PepsiCo also received a Hold from TD Cowen’s Robert Moskow in a report issued today. However, on the same day, J.P. Morgan maintained a Buy 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.
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