Pepsico, Inc. (PEP) Announces Quarterly Earnings Results
Pepsico, Inc. (NYSE:PEP) announced its quarterly earnings data on Wednesday. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.43 by $0.05, Bloomberg Earnings reports. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The business had revenue of $16.24 billion during the quarter, compared to analysts’ expectations of $16.35 billion. During the same period in the previous year, the business posted $1.40 EPS. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. Pepsico updated its FY17 guidance to $5.23 EPS.
Pepsico (NYSE:PEP) opened at 109.34 on Thursday. The firm’s 50-day moving average is $114.58 and its 200-day moving average is $114.76. Pepsico has a 52-week low of $98.50 and a 52-week high of $119.39. The firm has a market capitalization of $155.87 billion, a PE ratio of 23.16 and a beta of 0.68. Pepsico also was the recipient of some unusual options trading activity on Monday. Traders acquired 5,616 put options on the company. This represents an increase of 248% compared to the typical daily volume of 1,616 put options.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were paid a $0.805 dividend. This represents a $3.22 annualized dividend and a dividend yield of 2.94%. The ex-dividend date was Wednesday, August 30th. Pepsico’s dividend payout ratio is currently 68.22%.
In related news, SVP Marie T. Gallagher sold 41,489 shares of Pepsico stock in a transaction 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 transaction, the senior vice president now directly owns 76,037 shares in the company, valued at approximately $8,878,840.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mehmood Khan sold 63,396 shares of Pepsico stock in a transaction on Monday, July 24th. The shares were 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 owns 174,273 shares in the company, valued at $20,283,634.47. The disclosure for this sale can be found here. Over the last quarter, insiders sold 898,164 shares of company stock worth $104,585,929. 0.26% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Pepsico by 2.4% in the 2nd 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 during the last quarter. Ameriprise Financial Inc. grew its position in Pepsico by 2.5% in the 2nd 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 during the last quarter. FMR LLC grew its position in Pepsico by 8.3% in the 2nd 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 during the last quarter. Alliancebernstein L.P. grew its position in Pepsico by 7.0% in the 2nd quarter. Alliancebernstein L.P. now owns 6,568,054 shares of the company’s stock valued at $758,545,000 after buying an additional 428,728 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Pepsico by 29.9% in the 2nd quarter. Renaissance Technologies LLC now owns 5,642,700 shares of the company’s stock valued at $651,675,000 after buying an additional 1,298,900 shares during the last quarter. Hedge funds and other institutional investors own 70.06% of the company’s stock.
Several analysts have commented on PEP shares. Jefferies Group LLC restated a “buy” rating and set a $133.00 price objective (up from $130.00) on shares of Pepsico in a research note on Wednesday, July 12th. Zacks Investment Research upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $129.00 price objective for the company in a research note on Friday, July 14th. BidaskClub upgraded shares of Pepsico from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Cowen and Company restated a “buy” rating on shares of Pepsico in a research note on Sunday, September 17th. Finally, Susquehanna Bancshares Inc restated a “buy” rating and set a $135.00 price objective on shares of Pepsico in a research note on Monday. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $121.87.
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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