PepsiCo Inc. (PEP) Hits New 12-Month High at $106.98
Shares of PepsiCo Inc. (NYSE:PEP) reached a new 52-week high on Tuesday . The company traded as high as $106.98 and last traded at $106.39, with a volume of 2,514,072 shares traded. The stock had previously closed at $105.63.
A number of research firms recently weighed in on PEP. Zacks Investment Research downgraded PepsiCo from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Vetr downgraded PepsiCo from a “hold” rating to a “sell” rating and set a $99.50 target price for the company. in a research report on Wednesday, June 29th. Morgan Stanley restated a “buy” rating and issued a $119.00 target price on shares of PepsiCo in a research report on Monday, April 18th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $112.00 target price (up previously from $110.00) on shares of PepsiCo in a research report on Tuesday, April 19th. Finally, Citigroup Inc. boosted their target price on PepsiCo from $102.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 19th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $108.38.
The company has a market cap of $152.99 billion and a price-to-earnings ratio of 30.25. The company has a 50 day moving average of $102.85 and a 200-day moving average of $101.11.
PepsiCo (NYSE:PEP) last released its quarterly earnings results on Monday, April 18th. The company reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.08. During the same quarter in the previous year, the company posted $0.83 EPS. The company had revenue of $11.90 billion for the quarter, compared to analysts’ expectations of $11.85 billion. The business’s quarterly revenue was down 2.9% on a year-over-year basis. On average, analysts anticipate that PepsiCo Inc. will post $4.73 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Friday, June 3rd were issued a dividend of $0.7525 per share. This is an increase from PepsiCo’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Wednesday, June 1st. This represents a $3.01 annualized dividend and a yield of 2.84%.
In related news, EVP Cynthia Trudell sold 8,000 shares of the stock in a transaction on Wednesday, April 20th. The stock was sold at an average price of $104.23, for a total transaction of $833,840.00. Following the sale, the executive vice president now owns 39,592 shares in the company, valued at approximately $4,126,674.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Indra K. Nooyi sold 304,220 shares of the stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $103.31, for a total value of $31,428,968.20. Following the sale, the chief executive officer now owns 649,818 shares in the company, valued at approximately $67,132,697.58. The disclosure for this sale can be found here.
A number of hedge funds recently added to or reduced their stakes in PEP. Dimensional Fund Advisors LP raised its stake in PepsiCo by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,100,373 shares of the company’s stock valued at $309,815,000 after buying an additional 142,355 shares during the last quarter. Stephens Inc. AR raised its stake in shares of PepsiCo by 12.9% in the fourth quarter. Stephens Inc. AR now owns 113,216 shares of the company’s stock worth $11,313,000 after buying an additional 12,963 shares in the last quarter. I.G. Investment Management LTD. raised its stake in shares of PepsiCo by 22.3% in the fourth quarter. I.G. Investment Management LTD. now owns 1,144,663 shares of the company’s stock worth $114,375,000 after buying an additional 208,546 shares in the last quarter. Homrich & Berg raised its stake in shares of PepsiCo by 1.7% in the fourth quarter. Homrich & Berg now owns 15,085 shares of the company’s stock worth $1,507,000 after buying an additional 253 shares in the last quarter. Finally, Hodges Capital Management Inc. raised its stake in shares of PepsiCo by 3.9% in the fourth quarter. Hodges Capital Management Inc. now owns 14,632 shares of the company’s stock worth $1,462,000 after buying an additional 550 shares in the last quarter.
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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