Pepsico, Inc. (NYSE:PEP) Given Buy Rating at Jefferies Group LLC
Jefferies Group LLC reissued their buy rating on shares of Pepsico, Inc. (NYSE:PEP) in a research note released on Wednesday, July 12th. Jefferies Group LLC currently has a $133.00 price target on the stock, up from their prior price target of $130.00. Jefferies Group also issued estimates for Pepsico’s Q3 2017 earnings at $1.44 EPS, Q4 2017 earnings at $1.33 EPS, FY2017 earnings at $5.20 EPS, FY2018 earnings at $5.67 EPS and FY2019 earnings at $6.17 EPS.
Several other equities analysts have also commented on the stock. Credit Suisse Group increased their target price on shares of Pepsico from $115.00 to $121.00 and gave the company a buy rating in a report on Thursday, March 23rd. Zacks Investment Research lowered shares of Pepsico from a hold rating to a sell rating in a report on Tuesday, April 18th. BMO Capital Markets reaffirmed a buy rating and set a $115.00 target price on shares of Pepsico in a report on Thursday, April 27th. J P Morgan Chase & Co started coverage on shares of Pepsico in a report on Tuesday, March 21st. They issued an overweight rating and a $125.00 price target on the stock. Finally, Susquehanna Bancshares Inc raised shares of Pepsico from a neutral rating to a positive rating and raised their price target for the stock from $118.00 to $132.00 in a report on Wednesday, April 12th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $123.04.
Shares of Pepsico (PEP) opened at 116.96 on Wednesday. The firm has a market cap of $166.73 billion, a PE ratio of 24.77 and a beta of 0.67. Pepsico has a 52-week low of $98.50 and a 52-week high of $118.24. The company’s 50-day moving average price is $116.01 and its 200-day moving average price is $112.24.
Pepsico (NYSE:PEP) last issued its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.10. The firm 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 business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.35 EPS. Equities analysts expect that Pepsico will post $5.16 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be paid a $0.805 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.75%. Pepsico’s dividend payout ratio is presently 68.22%.
In related news, Chairman Indra K. Nooyi sold 452,830 shares of the business’s stock in a transaction that occurred 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 sale, the chairman now directly owns 733,315 shares in the company, valued at $85,387,198.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Indra K. Nooyi sold 340,449 shares of Pepsico stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 733,315 shares in the company, valued at approximately $85,372,532.30. The disclosure for this sale can be found here. Insiders have sold 856,675 shares of company stock valued at $99,741,258 over the last 90 days. 0.26% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. increased its position in Pepsico by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 15,671,152 shares of the company’s stock valued at $1,639,677,000 after buying an additional 340,666 shares during the period. Norges Bank bought a new position in Pepsico during the fourth quarter valued at approximately $1,492,411,000. Schwab Charles Investment Management Inc. increased its position in Pepsico by 3.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 7,781,835 shares of the company’s stock valued at $898,725,000 after buying an additional 238,221 shares during the period. Bank of Montreal Can increased its position in Pepsico by 16.6% in the first quarter. Bank of Montreal Can now owns 5,812,519 shares of the company’s stock valued at $650,189,000 after buying an additional 827,376 shares during the period. Finally, Fisher Asset Management LLC increased its position in Pepsico by 5.0% in the second quarter. Fisher Asset Management LLC now owns 5,775,278 shares of the company’s stock valued at $666,987,000 after buying an additional 277,607 shares during the period. 70.52% of the stock is currently owned by institutional investors and hedge funds.
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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