PepsiCo Inc. (PEP) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS
PepsiCo Inc. (NYSE:PEP) released its quarterly earnings results on Thursday. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.08. The business had revenue of $16 billion for the quarter, compared to analysts’ expectations of $15.83 billion. PepsiCo had a net margin of 8.34% and a return on equity of 54.91%. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.35 earnings per share. PepsiCo updated its FY16 guidance to $4.78 EPS.
PepsiCo (NYSE:PEP) opened at 107.76 on Friday. The company has a market capitalization of $155.08 billion, a P/E ratio of 30.45 and a beta of 0.48. PepsiCo has a 52 week low of $92.53 and a 52 week high of $110.94. The company’s 50 day moving average price is $107.19 and its 200-day moving average price is $105.06.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be paid a dividend of $0.7525 per share. The ex-dividend date is Wednesday, August 31st. This represents a $3.01 dividend on an annualized basis and a dividend yield of 2.79%. PepsiCo’s dividend payout ratio (DPR) is presently 84.79%.
Several analysts recently weighed in on PEP shares. Bank of America Corp. reiterated a “buy” rating and issued a $120.00 price target on shares of PepsiCo in a report on Thursday, September 22nd. Credit Agricole SA reiterated an “outperform” rating on shares of PepsiCo in a report on Monday, August 22nd. Credit Suisse Group AG started coverage on shares of PepsiCo in a report on Thursday, September 15th. They issued an “outperform” rating and a $121.00 price target on the stock. Zacks Investment Research cut shares of PepsiCo from a “hold” rating to a “sell” rating in a report on Wednesday, September 7th. Finally, Susquehanna reiterated a “neutral” rating on shares of PepsiCo in a report on Tuesday, June 14th. One investment 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 company presently has a consensus rating of “Buy” and an average price target of $111.34.
In related news, EVP Mehmood Khan sold 51,137 shares of the business’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $107.30, for a total value of $5,487,000.10. Following the sale, the executive vice president now owns 164,464 shares in the company, valued at approximately $17,646,987.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Laxman Narasimhan sold 3,219 shares of the business’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $109.11, for a total value of $351,225.09. Following the completion of the sale, the chief executive officer now owns 97,057 shares in the company, valued at approximately $10,589,889.27. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of PEP. Wellington Management Group LLP increased its stake in PepsiCo by 40.9% in the first quarter. Wellington Management Group LLP now owns 21,691,078 shares of the company’s stock valued at $2,222,902,000 after buying an additional 6,297,861 shares in the last quarter. Bank of Montreal Can purchased a new stake in PepsiCo during the second quarter valued at about $519,379,000. Emerald Acquisition Ltd. purchased a new stake in PepsiCo during the second quarter valued at about $370,675,000. Winslow Capital Management LLC purchased a new stake in PepsiCo during the second quarter valued at about $358,422,000. Finally, Vanguard Group Inc. increased its stake in PepsiCo by 2.3% in the second quarter. Vanguard Group Inc. now owns 100,515,744 shares of the company’s stock valued at $10,648,637,000 after buying an additional 2,290,350 shares in the last quarter. Hedge funds and other institutional investors own 69.81% of the company’s stock.
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.
Receive News & Stock Ratings for PepsiCo Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PepsiCo Inc. and related stocks with our FREE daily email newsletter.