PepsiCo’s (PEP) Buy Rating Reiterated at Bank of America Corp.
PepsiCo Inc. (NYSE:PEP)‘s stock had its “buy” rating restated by research analysts at Bank of America Corp. in a report released on Thursday. They presently have a $120.00 price target on the stock. Bank of America Corp.’s target price would suggest a potential upside of 12.01% from the stock’s current price.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut PepsiCo from a “hold” rating to a “sell” rating in a research note on Thursday. Vetr cut PepsiCo from a “hold” rating to a “sell” rating and set a $99.50 price target for the company. in a research note on Wednesday, June 29th. BMO Capital Markets reiterated an “outperform” rating on shares of PepsiCo in a research note on Friday, July 15th. Argus boosted their price target on PepsiCo from $116.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, July 13th. Finally, Jefferies Group reiterated a “buy” rating and issued a $124.00 price target (up from $119.00) on shares of PepsiCo in a research note on Wednesday, July 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $111.34.
PepsiCo (NYSE:PEP) traded up 0.50% during midday trading on Thursday, hitting $107.67. The stock had a trading volume of 1,671,612 shares. PepsiCo has a 1-year low of $91.45 and a 1-year high of $110.94. The company has a 50-day moving average of $107.34 and a 200-day moving average of $104.79. The stock has a market cap of $154.95 billion, a price-to-earnings ratio of 30.42 and a beta of 0.48.
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PepsiCo (NYSE:PEP) last issued its quarterly earnings data on Thursday, July 7th. The company reported $1.35 earnings per share (EPS) for the quarter, topping 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 company earned $15.40 billion during the quarter. During the same quarter in the prior year, the firm earned $1.32 EPS. The company’s revenue was down 3.3% on a year-over-year basis. Equities research analysts forecast that PepsiCo will post $4.76 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be given a dividend of $0.7525 per share. The ex-dividend date is Wednesday, August 31st. This represents a $3.01 dividend on an annualized basis and a dividend yield of 2.81%. PepsiCo’s dividend payout ratio (DPR) is presently 84.79%.
In other news, SVP Marie T. Gallagher sold 13,586 shares of the stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $109.01, for a total transaction of $1,481,009.86. Following the transaction, the senior vice president now owns 58,183 shares of the company’s stock, valued at approximately $6,342,528.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ramon Laguarta sold 17,221 shares of the stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $108.27, for a total transaction of $1,864,517.67. Following the transaction, the chief executive officer now directly owns 142,325 shares in the company, valued at approximately $15,409,527.75. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Chevy Chase Trust Holdings Inc. boosted its position in PepsiCo by 4.8% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,498,012 shares of the company’s stock worth $153,517,000 after buying an additional 69,285 shares during the period. Toth Financial Advisory Corp boosted its position in PepsiCo by 0.8% in the first quarter. Toth Financial Advisory Corp now owns 59,823 shares of the company’s stock worth $6,131,000 after buying an additional 470 shares during the period. Community Trust & Investment Co. boosted its position in PepsiCo by 7.8% in the first quarter. Community Trust & Investment Co. now owns 116,620 shares of the company’s stock worth $11,951,000 after buying an additional 8,416 shares during the period. Kistler Tiffany Companies LLC boosted its position in PepsiCo by 1.8% in the first quarter. Kistler Tiffany Companies LLC now owns 25,956 shares of the company’s stock worth $2,660,000 after buying an additional 463 shares during the period. Finally, Iowa State Bank boosted its position in PepsiCo by 0.5% in the first quarter. Iowa State Bank now owns 45,857 shares of the company’s stock worth $4,699,000 after buying an additional 220 shares during the period. 69.81% of the stock is currently owned by institutional investors.
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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