Pepsico, Inc. (PEP) Receives New Coverage from Analysts at Macquarie
A number of other research analysts also recently commented on the stock. Credit Suisse Group downgraded shares of Pepsico from an outperform rating to a neutral rating and lowered their price target for the company from $126.00 to $124.00 in a report on Friday, September 8th. Royal Bank Of Canada reissued a hold rating and issued a $115.00 price objective on shares of Pepsico in a research note on Wednesday, September 6th. BMO Capital Markets reissued a hold rating and issued a $120.00 price objective on shares of Pepsico in a research note on Wednesday, September 6th. Zacks Investment Research raised shares of Pepsico from a hold rating to a buy rating and set a $130.00 price objective for the company in a research note on Tuesday, September 5th. Finally, BidaskClub downgraded shares of Pepsico from a buy rating to a hold rating in a research note on Friday, August 25th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Pepsico presently has an average rating of Buy and a consensus target price of $123.44.
Shares of Pepsico (NYSE:PEP) traded up 0.58% during midday trading on Thursday, reaching $114.85. The company’s stock had a trading volume of 5,386,152 shares. The company’s 50-day moving average price is $116.49 and its 200-day moving average price is $114.52. Pepsico has a 12 month low of $98.50 and a 12 month high of $119.39. The company has a market cap of $163.72 billion, a PE ratio of 24.32 and a beta of 0.68. Pepsico also was the recipient of some unusual options trading on Wednesday. Stock investors acquired 1,176 call options on the company. This represents an increase of approximately 536% compared to the average daily volume of 185 call options.
Pepsico (NYSE:PEP) last issued its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.10. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The firm had revenue of $15.71 billion during the quarter, compared to analyst estimates of $15.57 billion. During the same quarter last year, the business posted $1.35 earnings per share. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities analysts anticipate that Pepsico will post $5.16 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.805 per share. The ex-dividend date is Wednesday, August 30th. This represents a $3.22 annualized dividend and a dividend yield of 2.82%. Pepsico’s payout ratio is currently 68.22%.
In related news, Chairman Indra K. Nooyi sold 452,830 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $116.44, for a total transaction of $52,727,525.20. Following the completion of the transaction, the chairman now directly owns 733,315 shares in the company, valued at $85,387,198.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mehmood Khan sold 63,396 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $116.39, for a total transaction of $7,378,660.44. Following the transaction, the executive vice president now owns 174,273 shares of the company’s stock, valued at $20,283,634.47. The disclosure for this sale can be found here. Insiders have sold 898,164 shares of company stock valued at $104,585,929 over the last quarter. Insiders own 0.26% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of PEP. Wright Investors Service Inc. raised its position in shares of Pepsico by 69.2% in the second quarter. Wright Investors Service Inc. now owns 22,280 shares of the company’s stock worth $2,573,000 after acquiring an additional 9,110 shares during the period. National Pension Service raised its position in shares of Pepsico by 2.0% in the first quarter. National Pension Service now owns 945,000 shares of the company’s stock worth $106,010,000 after acquiring an additional 18,835 shares during the period. Univest Corp of Pennsylvania raised its position in shares of Pepsico by 0.7% in the first quarter. Univest Corp of Pennsylvania now owns 2,350 shares of the company’s stock worth $263,000 after acquiring an additional 17 shares during the period. Hays Advisory LLC raised its position in shares of Pepsico by 11.6% in the first quarter. Hays Advisory LLC now owns 2,244 shares of the company’s stock worth $251,000 after acquiring an additional 233 shares during the period. Finally, Ledyard National Bank raised its position in shares of Pepsico by 9.2% in the first quarter. Ledyard National Bank now owns 55,779 shares of the company’s stock worth $6,240,000 after acquiring an additional 4,720 shares during the period. Institutional investors own 70.16% of the company’s stock.
Pepsico Company Profile
PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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