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Shares of PepsiCo (NYSE:PEP) gapped up prior to trading on Monday after S&P Equity Research raised their price target on the stock from $4.32 to $2,491.00, Analyst Ratings Net reports. The stock had previously closed at $89.94, but opened at $90.29. S&P Equity Research currently has a buy rating on the stock. PepsiCo shares last traded at $91.74, with a volume of 2,475,462 shares.

Other equities research analysts have also recently issued reports about the stock. Analysts at Nomura initiated coverage on shares of PepsiCo in a research note on Tuesday, August 5th. They set a “reduce” rating and a $81.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of PepsiCo in a research note on Thursday, July 24th. They now have a $95.00 price target on the stock. Finally, analysts at Stifel Nicolaus upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Thursday, July 24th. They now have a $106.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $253.93.

In other PepsiCo news, EVP Thomas Greco sold 28,372 shares of PepsiCo stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $91.26, for a total value of $2,589,228.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

The stock’s 50-day moving average is $89.72 and its 200-day moving average is $85.14. The company has a market cap of $138.2 billion and a price-to-earnings ratio of 20.37.

PepsiCo (NYSE:PEP) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.09. The company had revenue of $16.89 billion for the quarter, compared to the consensus estimate of $16.79 billion. During the same quarter in the previous year, the company posted $1.31 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. On average, analysts predict that PepsiCo will post $4.58 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Wednesday, September 3rd.

PepsiCo, Inc (NYSE:PEP) is a global food and beverage company.

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