PepsiCo Inc. (PEP) Stock Rating Reaffirmed by Morgan Stanley
PepsiCo Inc. (NYSE:PEP)‘s stock had its “overweight” rating reaffirmed by equities researchers at Morgan Stanley in a research report issued to clients and investors on Friday. They presently have a $121.00 price target on the stock. Morgan Stanley’s target price indicates a potential upside of 11.78% from the stock’s previous close.
Other analysts also recently issued reports about the company. Vetr downgraded PepsiCo from a “hold” rating to a “sell” rating and set a $99.50 price target for the company. in a research note on Wednesday, June 29th. BMO Capital Markets restated an “outperform” rating and issued a $120.00 price target (up from $116.00) on shares of PepsiCo in a research note on Friday. Jefferies Group restated a “buy” rating and issued a $122.00 price target (down from $124.00) on shares of PepsiCo in a research note on Friday. Argus boosted their price target on PepsiCo from $116.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, July 13th. Finally, Zacks Investment Research upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $116.00 price target for the company in a research note on Tuesday, June 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company’s stock. PepsiCo presently has an average rating of “Buy” and an average price target of $112.25.
PepsiCo (NYSE:PEP) opened at 108.25 on Friday. The company has a 50-day moving average price of $107.18 and a 200 day moving average price of $105.23. The company has a market cap of $155.25 billion, a PE ratio of 23.75 and a beta of 0.46. PepsiCo has a 12-month low of $93.25 and a 12-month high of $110.94.
PepsiCo (NYSE:PEP) last released its quarterly earnings results on Thursday, September 29th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.08. The business earned $16 billion during the quarter. PepsiCo had a return on equity of 57.14% and a net margin of 10.74%. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.35 earnings per share. On average, analysts forecast that PepsiCo will post $4.79 EPS for the current fiscal year.
The firm also recently announced 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. The ex-dividend date was Wednesday, August 31st. This represents a $3.01 annualized dividend and a dividend yield of 2.78%. PepsiCo’s payout ratio is 66.01%.
In related news, CEO Albert P. Carey sold 170,003 shares of the company’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $108.81, for a total transaction of $18,498,026.43. Following the sale, the chief executive officer now owns 306,138 shares in the company, valued at approximately $33,310,875.78. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Marie T. Gallagher sold 13,586 shares of the company’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $109.01, for a total value of $1,481,009.86. Following the sale, the senior vice president now owns 58,183 shares in the company, valued at approximately $6,342,528.83. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.
Several large investors have recently made changes to their positions in PEP. Wellington Management Group LLP raised its stake in shares of 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 during the last quarter. Bank of Montreal Can purchased a new position in shares of PepsiCo during the second quarter valued at about $519,379,000. Emerald Acquisition Ltd. purchased a new position in shares of PepsiCo during the second quarter valued at about $370,675,000. Winslow Capital Management LLC purchased a new position in shares of PepsiCo during the second quarter valued at about $358,422,000. Finally, Vanguard Group Inc. raised its position in shares of 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 during the last quarter. Institutional investors own 69.81% of the company’s stock.
PepsiCo Company Profile
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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