PepsiCo’s (PEP) Overweight Rating Reiterated at Morgan Stanley
Morgan Stanley reiterated their overweight rating on shares of PepsiCo Inc. (NYSE:PEP) in a research report sent to investors on Friday. Morgan Stanley currently has a $121.00 price objective on the stock.
A number of other brokerages have also weighed in on PEP. Goldman Sachs Group Inc. restated a neutral rating and set a $104.00 price objective (down previously from $105.00) on shares of PepsiCo in a research report on Wednesday, June 29th. Sanford C. Bernstein reiterated an outperform rating and issued a $118.00 price target on shares of PepsiCo in a research report on Wednesday, August 10th. Credit Agricole SA reiterated an outperform rating on shares of PepsiCo in a research report on Monday, August 22nd. Bank of America Corp. reiterated a buy rating and issued a $120.00 price target on shares of PepsiCo in a research report on Thursday, September 22nd. Finally, Zacks Investment Research lowered PepsiCo from a hold rating to a sell rating in a research report on Wednesday, September 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $112.25.
Shares of PepsiCo (NYSE:PEP) opened at 107.10 on Friday. PepsiCo has a 12 month low of $93.25 and a 12 month high of $110.94. The company has a 50-day moving average price of $107.14 and a 200-day moving average price of $105.27. The firm has a market cap of $153.60 billion, a price-to-earnings ratio of 23.50 and a beta of 0.46.
PepsiCo (NYSE:PEP) last issued its quarterly earnings data on Thursday, September 29th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.08. The business had revenue of $16 billion for the quarter. PepsiCo had a return on equity of 57.14% and a net margin of 10.74%. The company’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.35 EPS. Analysts forecast that PepsiCo will post $4.79 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 2nd were given a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Wednesday, August 31st. PepsiCo’s payout ratio is 66.01%.
In related news, EVP Mehmood Khan sold 51,137 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $107.30, for a total transaction of $5,487,000.10. Following the completion of the sale, the executive vice president now directly owns 164,464 shares of the company’s stock, valued at $17,646,987.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Albert P. Carey sold 170,003 shares of the stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $108.81, for a total value of $18,498,026.43. Following the sale, the chief executive officer now directly owns 306,138 shares of the company’s stock, valued at $33,310,875.78. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.
Several hedge funds have recently modified their holdings of PEP. Culbertson A N & Co. Inc. purchased a new position in shares of PepsiCo during the first quarter valued at $7,123,000. Gierl Augustine Investment Management Inc raised its position in shares of PepsiCo by 41.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 27,396 shares of the company’s stock valued at $2,807,000 after buying an additional 8,002 shares during the period. Donald L. Hagan LLC raised its position in shares of PepsiCo by 1.3% in the first quarter. Donald L. Hagan LLC now owns 12,138 shares of the company’s stock valued at $1,244,000 after buying an additional 157 shares during the period. Koshinski Asset Management Inc. raised its position in shares of PepsiCo by 10.1% in the first quarter. Koshinski Asset Management Inc. now owns 3,013 shares of the company’s stock valued at $319,000 after buying an additional 276 shares during the period. Finally, TNB Financial raised its position in shares of PepsiCo by 10.9% in the first quarter. TNB Financial now owns 24,799 shares of the company’s stock valued at $2,541,000 after buying an additional 2,435 shares during the period. 69.81% of the stock is owned by institutional investors.
PepsiCo, Inc is a food and beverage company. The Company, through its operations, bottlers, contract manufacturers and other third parties, is engaged in making, marketing, distributing and selling a range of beverages, foods and snacks, serving in over 200 countries and territories. The Company operates through six segments, namely, Frito-Lay North America (FLNA); Quaker Foods North America (QFNA); North America Beverages (NAB); Latin America, which includes its beverage, food and snack businesses in Latin America; Europe Sub-Saharan Africa (ESSA), which includes its beverage, food and snack businesses in Europe and Sub-Saharan Africa, and Asia, Middle East and North Africa (AMENA), which includes its beverage, food and snack businesses in Asia, Middle East and North Africa.
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