Pepsico, Inc. (PEP) Given “Buy” Rating at Cowen and Company
Several other research firms have also commented on PEP. Jefferies Group LLC reiterated a buy rating and issued a $133.00 price target (up from $130.00) on shares of Pepsico in a research report on Wednesday, July 12th. BidaskClub downgraded shares of Pepsico from a buy rating to a hold rating in a research note on Saturday, July 1st. Zacks Investment Research raised shares of Pepsico from a hold rating to a buy rating and set a $132.00 price objective on the stock in a research note on Tuesday, August 22nd. Royal Bank Of Canada reissued a hold rating and set a $115.00 price objective on shares of Pepsico in a research note on Thursday, May 25th. Finally, Credit Suisse Group downgraded shares of Pepsico from an outperform rating to a neutral rating and reduced their price objective for the company from $126.00 to $124.00 in a research note on Friday, September 8th. Six 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 stock. The stock presently has an average rating of Buy and a consensus target price of $123.44.
Pepsico (PEP) opened at 113.58 on Friday. Pepsico has a 1-year low of $98.50 and a 1-year high of $119.39. The firm has a 50-day moving average of $116.31 and a 200-day moving average of $114.69. The stock has a market capitalization of $161.91 billion, a price-to-earnings ratio of 24.05 and a beta of 0.68.
Pepsico (NYSE:PEP) last released its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.40 by $0.10. The business had revenue of $15.71 billion for the quarter, compared to analyst estimates of $15.57 billion. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.35 earnings per share. Equities research analysts anticipate that Pepsico will post $5.16 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a dividend of $0.805 per share. This represents a $3.22 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date is Wednesday, August 30th. Pepsico’s payout ratio is 68.22%.
In other Pepsico news, CEO Indra K. Nooyi sold 340,449 shares of the firm’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $116.42, for a total transaction of $39,635,072.58. Following the completion of the transaction, the chief executive officer now directly owns 733,315 shares of the company’s stock, valued at approximately $85,372,532.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Indra K. Nooyi sold 452,830 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $116.44, for a total transaction of $52,727,525.20. Following the transaction, the chairman now directly owns 733,315 shares of the company’s stock, valued at $85,387,198.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 898,164 shares of company stock valued at $104,585,929. 0.26% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Pepsico by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 112,083,751 shares of the company’s stock worth $12,944,553,000 after buying an additional 2,635,738 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Pepsico by 910.5% in the 2nd quarter. Janus Henderson Group PLC now owns 2,907,923 shares of the company’s stock worth $335,840,000 after buying an additional 2,620,149 shares during the last quarter. Sanders Capital LLC bought a new position in shares of Pepsico in the 1st quarter worth about $254,277,000. Harbour Capital Advisors LLC lifted its position in shares of Pepsico by 11,316.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 2,183,685 shares of the company’s stock worth $18,908,000 after buying an additional 2,164,557 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Pepsico by 92.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,317,230 shares of the company’s stock worth $371,065,000 after buying an additional 1,593,550 shares during the last quarter. 70.06% of the stock is owned by institutional investors.
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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