PepsiCo’s (PEP) “Buy” Rating Reaffirmed at Bank of America Corp.
PepsiCo Inc. (NYSE:PEP)‘s stock had its “buy” rating reiterated by equities research analysts at Bank of America Corp. in a note issued to investors on Thursday. They presently have a $120.00 price target on the stock. Bank of America Corp.’s price target suggests a potential upside of 12.01% from the stock’s previous close.
Other equities research analysts have also issued research reports about the company. Deutsche Bank AG upped their price target on PepsiCo from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, July 8th. Jefferies Group reiterated a “buy” rating and issued a $124.00 price target (up previously from $119.00) on shares of PepsiCo in a research report on Wednesday, July 6th. Argus upped their price target on PepsiCo from $116.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, July 13th. Zacks Investment Research upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $116.00 price target on the stock in a research report on Tuesday, June 21st. Finally, Vetr upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $112.11 price target on the stock in a research report on Wednesday, September 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company. PepsiCo has a consensus rating of “Buy” and a consensus target price of $111.34.
Shares of PepsiCo (NYSE:PEP) traded up 0.555% during midday trading on Thursday, reaching $107.725. The company had a trading volume of 1,702,177 shares. The stock’s 50 day moving average is $107.34 and its 200-day moving average is $104.79. PepsiCo has a 12-month low of $91.45 and a 12-month high of $110.94. The stock has a market capitalization of $155.03 billion, a PE ratio of 30.439 and a beta of 0.48.
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PepsiCo (NYSE:PEP) last released its quarterly earnings results on Thursday, July 7th. The company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. PepsiCo had a return on equity of 54.91% and a net margin of 8.34%. The firm had revenue of $15.40 billion for the quarter. During the same quarter last year, the firm posted $1.32 EPS. The company’s quarterly revenue was down 3.3% on a year-over-year basis. On average, equities research analysts predict that PepsiCo will post $4.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 2nd will be issued a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a yield of 2.81%. The ex-dividend date is Wednesday, August 31st. PepsiCo’s dividend payout ratio (DPR) is 84.79%.
In other PepsiCo news, CEO Albert P. Carey sold 170,003 shares of the stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $108.81, for a total transaction of $18,498,026.43. Following the completion of the transaction, the chief executive officer now directly owns 306,138 shares of the company’s stock, valued at $33,310,875.78. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ramon Laguarta sold 17,221 shares of the stock in a transaction on Monday, July 11th. The shares were sold at an average price of $108.27, for a total value of $1,864,517.67. Following the transaction, the chief executive officer now directly owns 142,325 shares of the company’s stock, valued at $15,409,527.75. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Chevy Chase Trust Holdings Inc. raised its position in shares of PepsiCo by 4.8% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,498,012 shares of the company’s stock valued at $153,517,000 after buying an additional 69,285 shares during the period. Toth Financial Advisory Corp raised its position in shares of PepsiCo by 0.8% in the first quarter. Toth Financial Advisory Corp now owns 59,823 shares of the company’s stock valued at $6,131,000 after buying an additional 470 shares during the period. Community Trust & Investment Co. raised its position in shares of PepsiCo by 7.8% in the first quarter. Community Trust & Investment Co. now owns 116,620 shares of the company’s stock valued at $11,951,000 after buying an additional 8,416 shares during the period. Kistler Tiffany Companies LLC raised its position in shares of PepsiCo by 1.8% in the first quarter. Kistler Tiffany Companies LLC now owns 25,956 shares of the company’s stock valued at $2,660,000 after buying an additional 463 shares during the period. Finally, Iowa State Bank raised its position in shares of PepsiCo by 0.5% in the first quarter. Iowa State Bank now owns 45,857 shares of the company’s stock valued at $4,699,000 after buying an additional 220 shares during the period. 69.81% of the stock is owned by institutional investors and hedge funds.
PepsiCo, Inc is a food and beverage company. The Company, through its operations, bottlers, contract manufacturers and other third parties, is engaged in making, marketing, distributing and selling a range of beverages, foods and snacks, serving in over 200 countries and territories. The Company operates through six segments, namely, Frito-Lay North America (FLNA); Quaker Foods North America (QFNA); North America Beverages (NAB); Latin America, which includes its beverage, food and snack businesses in Latin America; Europe Sub-Saharan Africa (ESSA), which includes its beverage, food and snack businesses in Europe and Sub-Saharan Africa, and Asia, Middle East and North Africa (AMENA), which includes its beverage, food and snack businesses in Asia, Middle East and North Africa.
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