Pepsico, Inc. (PEP) Given Consensus Rating of “Buy” by Brokerages
Pepsico, Inc. (NYSE:PEP) has been assigned a consensus recommendation of “Buy” from the twenty ratings firms that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $123.14.
PEP has been the subject of several recent analyst reports. Zacks Investment Research cut Pepsico from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Jefferies Group LLC upped their target price on Pepsico from $120.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, April 19th. Royal Bank Of Canada set a $115.00 target price on Pepsico and gave the stock a “hold” rating in a research note on Monday, April 24th. Vetr upgraded Pepsico from a “hold” rating to a “buy” rating and set a $125.54 target price for the company in a research note on Wednesday, April 26th. Finally, BMO Capital Markets restated a “buy” rating and set a $115.00 target price on shares of Pepsico in a research note on Thursday, April 27th.
In related news, EVP Mehmood Khan sold 63,396 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 174,273 shares of the company’s stock, valued at approximately $20,283,634.47. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Indra K. Nooyi sold 340,449 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $116.42, for a total value of $39,635,072.58. Following the transaction, the chief executive officer now directly owns 733,315 shares of the company’s stock, valued at $85,372,532.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 898,164 shares of company stock valued at $104,585,929. 0.26% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Pepsico by 2.4% in the second quarter. Vanguard Group Inc. now owns 112,083,751 shares of the company’s stock valued at $12,944,553,000 after buying an additional 2,635,738 shares in the last quarter. Norges Bank bought a new position in shares of Pepsico during the fourth quarter valued at about $1,492,411,000. Ameriprise Financial Inc. raised its position in shares of Pepsico by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 12,699,308 shares of the company’s stock valued at $1,466,839,000 after buying an additional 306,675 shares in the last quarter. FMR LLC raised its position in shares of Pepsico by 8.3% in the second quarter. FMR LLC now owns 8,043,420 shares of the company’s stock valued at $928,934,000 after buying an additional 618,813 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of 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 in the last quarter. 70.19% of the stock is owned by institutional investors and hedge funds.
Shares of Pepsico (NYSE PEP) traded up 0.11% on Friday, hitting $119.10. The stock had a trading volume of 2,373,919 shares. The stock has a market capitalization of $169.78 billion, a PE ratio of 25.22 and a beta of 0.67. Pepsico has a one year low of $98.50 and a one year high of $119.36. The firm’s 50 day moving average is $116.04 and its 200-day moving average is $113.18.
Pepsico (NYSE:PEP) last released its earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.10. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The firm had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $15.57 billion. During the same period in the prior year, the company earned $1.35 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts expect that Pepsico will post $5.16 earnings per share for the current fiscal year.
The company 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. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Wednesday, August 30th. Pepsico’s payout ratio is 68.22%.
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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