Pepsico, Inc. (PEP) to Issue Quarterly Dividend of $0.81 on September 29th
Pepsico, Inc. (NYSE:PEP) announced a quarterly dividend on Friday, July 14th, RTT News reports. Stockholders of record on Friday, September 1st will be paid a dividend of 0.805 per share on Friday, September 29th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Wednesday, August 30th.
Pepsico has increased its dividend payment by an average of 9.6% per year over the last three years and has raised its dividend annually for the last 44 consecutive years. Pepsico has a dividend payout ratio of 62.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Pepsico to earn $5.58 per share next year, which means the company should continue to be able to cover its $3.22 annual dividend with an expected future payout ratio of 57.7%.
Shares of Pepsico (PEP) opened at 115.54 on Tuesday. The company has a market cap of $164.70 billion, a P/E ratio of 24.47 and a beta of 0.67. The stock’s 50 day moving average price is $116.38 and its 200-day moving average price is $113.78. Pepsico has a 12 month low of $98.50 and a 12 month high of $119.39.
Pepsico (NYSE:PEP) last posted its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $15.71 billion during the quarter, compared to analyst estimates of $15.57 billion. During the same period in the previous year, the business earned $1.35 EPS. Pepsico’s quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts expect that Pepsico will post $5.15 earnings per share for the current year.
Several research analysts have recently weighed in on the company. Zacks Investment Research cut Pepsico from a “buy” rating to a “hold” rating in a report on Monday. BMO Capital Markets cut Pepsico from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $118.00 to $120.00 in a report on Wednesday, June 7th. They noted that the move was a valuation call. Susquehanna Bancshares Inc restated a “positive” rating and set a $133.00 target price (down from $134.00) on shares of Pepsico in a report on Thursday, July 6th. Royal Bank Of Canada restated a “hold” rating and set a $115.00 target price on shares of Pepsico in a report on Thursday, May 25th. Finally, Jefferies Group LLC restated a “buy” rating and set a $127.00 target price on shares of Pepsico in a report on Friday, May 19th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $123.61.
In other Pepsico news, Chairman Indra K. Nooyi sold 452,830 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $116.44, for a total value of $52,727,525.20. Following the sale, the chairman now owns 733,315 shares of the company’s stock, valued at $85,387,198.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Marie T. Gallagher sold 41,489 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $116.77, for a total value of $4,844,670.53. Following the completion of the sale, the senior vice president now directly owns 76,037 shares in the company, valued at approximately $8,878,840.49. The disclosure for this sale can be found here. Insiders sold 898,164 shares of company stock worth $104,585,929 over the last quarter. 0.26% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in PEP. Girard Partners LTD. raised its stake in shares of Pepsico by 1.1% in the second quarter. Girard Partners LTD. now owns 32,744 shares of the company’s stock worth $3,782,000 after buying an additional 367 shares during the last quarter. Brighton Jones LLC purchased a new stake in shares of Pepsico during the second quarter worth about $1,093,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of Pepsico by 7.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 155,414 shares of the company’s stock worth $17,949,000 after buying an additional 10,275 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its stake in shares of Pepsico by 5.2% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 30,300 shares of the company’s stock worth $3,499,000 after buying an additional 1,500 shares during the last quarter. Finally, Kings Point Capital Management raised its stake in shares of Pepsico by 14.2% in the second quarter. Kings Point Capital Management now owns 40,663 shares of the company’s stock worth $4,696,000 after buying an additional 5,047 shares during the last quarter. 70.15% of the stock is currently owned by institutional investors.
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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