BNP Paribas Cuts PepsiCo (PEP) Price Target to $157

BNP Paribas has reiterated its Outperform rating on PepsiCo, Inc. (NasdaqGS: PEP) on October 9, 2026, while adjusting its price target down from $161.00 to $157.00. This target indicates a potential upside from the recent trading price of $130.15, which is 17.1% below the target level.

Other Institutional Activity in PepsiCo

Several other funds have also shown interest in PepsiCo. Blackrock Inc. increased its holdings by 2,444,175 shares, bringing its total to 118,281,854 shares valued at approximately $15.6 billion. Vanguard Capital Management LLC added 452,906 shares, resulting in a total of 89,257,968 shares worth about $11.7 billion. State Street Corporation also raised its position by 986,381 shares, ending with 60,406,932 shares valued at around $7.9 billion. Invesco Ltd. increased its stake by 2,371,196 shares, totaling 43,113,398 shares worth about $5.7 billion, while Vanguard Portfolio Management LLC grew its holdings by 703,597 shares, totaling 37,159,425 shares valued at approximately $4.9 billion.

PepsiCo, Inc. Stock Up 1.4%

PepsiCo shares recently traded at $130.15, which is significantly below the new price target of $157.00 set by BNP Paribas. The stock has seen fluctuations in recent months, with the current price reflecting a disconnect from the analysts' expectations. This could indicate potential buying opportunities or concerns about the company's near-term performance.

Recent Earnings

PepsiCo reported trailing twelve-month revenue of approximately $96.9 billion, with a net margin of 10.8%. The company has demonstrated solid revenue growth of 6.4% year-over-year. The next earnings report is expected on October 24, 2026, which will provide further insights into the company’s performance.

Insider Buying and Selling at PepsiCo, Inc.

In recent insider transactions, Ramon L. Laguarta, the CEO, sold 27,945 shares at an average price of $167.39 on March 2, 2026, totaling about $4.7 million. Eugene Willemsen, an officer, sold 6,500 shares on March 4, 2026, valued at approximately $1.1 million. David James Flavell, the General Counsel, sold 2,900 shares at an average price of $139.54 on July 27, 2026, worth about $404,674.

Analysts Set New Price Targets

On the same day as BNP Paribas's call, Citigroup maintained a Neutral rating with a target of $135.00, down from $142.00. JP Morgan also kept a Neutral rating, adjusting its target slightly from $138.00 to $137.00. Piper Sandler maintained an Overweight rating with a target of $140.00, down from $176.00. RBC Capital reiterated its Sector Perform rating with a target of $150.00, unchanged from before.

About PepsiCo

PepsiCo, Inc. is a leading global food and beverage company based in Purchase, NY. It manufactures and sells a variety of beverages and convenient foods worldwide, operating through several segments including North American Foods and Beverages, and International Foods. This recent analyst activity reflects ongoing interest in PepsiCo's performance and potential growth in the consumer defensive sector.

Bottom Line

Investors should keep an eye on PepsiCo's upcoming earnings report on October 24, 2026, for more insight into its financial health. The adjustments in analyst ratings and targets may signal shifts in market expectations, making it important to stay updated on further developments.