Pepsico, Inc. (NYSE:PEP) Releases Earnings Results, Beats Estimates By $0.10 EPS
Pepsico, Inc. (NYSE:PEP) posted its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.10, RTT News reports. The company had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $15.57 billion. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. Pepsico’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.35 EPS. Pepsico updated its FY17 guidance to $5.13 EPS.
Pepsico (PEP) opened at 116.37 on Monday. The firm has a market cap of $165.89 billion, a PE ratio of 24.64 and a beta of 0.67. Pepsico has a 12-month low of $98.50 and a 12-month high of $118.24. The company has a 50-day moving average price of $116.01 and a 200-day moving average price of $112.24.
The firm 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 $0.805 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.22 dividend on an annualized basis and a yield of 2.77%. Pepsico’s payout ratio is 68.22%.
A number of brokerages have weighed in on PEP. Jefferies Group LLC lifted their target price on Pepsico from $120.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, April 19th. UBS AG raised Pepsico from a “neutral” rating to a “positive” rating in a research report on Wednesday, April 12th. BMO Capital Markets lowered Pepsico from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $118.00 to $120.00 in a research report on Wednesday, June 7th. They noted that the move was a valuation call. Zacks Investment Research lowered Pepsico from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $115.00 price target on shares of Pepsico in a research report on Thursday, May 25th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $123.04.
In other Pepsico news, Chairman Indra K. Nooyi sold 452,830 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $116.44, for a total value of $52,727,525.20. Following the completion of the sale, the chairman now owns 733,315 shares in the company, valued at approximately $85,387,198.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mehmood Khan sold 63,396 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $116.39, for a total transaction of $7,378,660.44. Following the completion of the sale, the executive vice president now owns 174,273 shares of the company’s stock, valued at approximately $20,283,634.47. The disclosure for this sale can be found here. Insiders sold a total of 856,675 shares of company stock valued at $99,741,258 in the last ninety days. Company insiders own 0.26% 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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