PepsiCo Coverage Initiated at Jefferies Group (PEP)
Research analysts at Jefferies Group assumed coverage on shares of PepsiCo (NYSE:PEP) in a report released on Monday. The firm set a “buy” rating and a $102.00 price target on the stock. Jefferies Group’s target price would suggest a potential upside of 15.91% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of PepsiCo in a research note on Tuesday, May 20th. They now have a $90.00 price target on the stock. Separately, analysts at S&P Equity Research downgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, April 24th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. PepsiCo currently has an average rating of “Buy” and a consensus target price of $92.80.
Shares of PepsiCo (NYSE:PEP) traded up 0.10% during mid-day trading on Monday, hitting $88.00. 2,280,106 shares of the company’s stock traded hands. PepsiCo has a one year low of $77.01 and a one year high of $88.48. The stock’s 50-day moving average is $86.44 and its 200-day moving average is $83.13. The company has a market cap of $133.4 billion and a P/E ratio of 19.86. PepsiCo also was the target of some unusual options trading activity on Friday. Investors purchased 4,088 put options on the stock. This represents an increase of 142% compared to the typical volume of 1,691 put options.
PepsiCo (NYSE:PEP) last issued its quarterly earnings data on Thursday, April 17th. The company reported $0.83 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.75 by $0.08. The company had revenue of $12.62 billion for the quarter, compared to the consensus estimate of $12.43 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts predict that PepsiCo will post $4.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 30th. Shareholders of record on Friday, June 6th will be given a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Wednesday, June 4th. This is a positive change from PepsiCo’s previous quarterly dividend of $0.57.
PepsiCo, Inc (NYSE:PEP) is a global food and beverage company.
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