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Jefferies analysts reiterates a Buy rating for PepsiCo Inc (PEP)

PepsiCo Inc’s filing revealed that its CEO, PBNA Krishnan Ramkumar unloaded Company’s shares for reported $0.75 million on Mar 11 ’24. In the deal valued at $164.44 per share,4,563 shares were sold. As a result of this transaction, Krishnan Ramkumar now holds 59,573 shares worth roughly $10.49 million.

Then, Willemsen Eugene sold 7,700 shares, generating $1,306,999 in total proceeds. Upon selling the shares at $169.74, the CEO, AMESA & Intl Beverages now owns 16,715 shares.

Before that, Johnston Hugh F sold 48,388 shares. PepsiCo Inc shares valued at $8,064,067 were divested by the Vice Chairman, EVP & CFO at a price of $166.65 per share. As a result of the transaction, Johnston Hugh F now holds 96,627 shares, worth roughly $17.02 million.

Jefferies reiterated its PepsiCo Inc [PEP] rating to a Buy in a research note published on April 05, 2024; the price target was $209. A number of analysts have revised their coverage, including Argus’s analysts, who decreased its forecast for the stock in early April from “a Buy” to “a Hold”. Morgan Stanley also remained covering PEP and has increased its forecast on March 18, 2024 with a “an Overweight” recommendation from previously “an Equal-weight” rating. Citigroup revised its rating on February 12, 2024. It rated PEP as “a Buy” which previously was an “a Neutral”.

Price Performance Review of PEP

On Monday, PepsiCo Inc [NASDAQ:PEP] saw its stock jump 0.32% to $176.14. Over the last five days, the stock has lost -0.18%. PepsiCo Inc shares have risen nearly 3.71% since the year began. Nevertheless, the stocks have fallen -7.14% over the past one year. While a 52-week high of $196.88 was reached on 04/25/24, a 52-week low of $155.83 was recorded on 03/05/24. SMA at 50 days reached $169.42, while 200 days put it at $171.41. A total of 3.22 million shares were traded, compared to the trading of 4.47 million shares in the previous session.

Levels Of Support And Resistance For PEP Stock

The 24-hour chart illustrates a support level at 175.34, which if violated will result in even more drops to 174.53. On the upside, there is a resistance level at 176.63. A further resistance level may holdings at 177.12. The Relative Strength Index (RSI) on the 14-day chart is 59.78, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.05, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 30.75%. Stochastics %K at 69.20% indicates the stock is a holding.

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