Jefferies Group LLC Reiterates Buy Rating for PepsiCo, Inc. (PEP)
PepsiCo, Inc. (NYSE:PEP)‘s stock had its “buy” rating reaffirmed by Jefferies Group LLC in a report released on Friday. They currently have a $127.00 price target on the stock. Jefferies Group LLC’s price objective suggests a potential upside of 11.37% from the company’s previous close.
A number of other equities analysts also recently commented on the stock. Credit Suisse Group AG boosted their price objective on shares of PepsiCo from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, March 23rd. Zacks Investment Research downgraded shares of PepsiCo from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. JPMorgan Chase & Co. initiated coverage on shares of PepsiCo in a research note on Tuesday, March 21st. They issued an “overweight” rating and a $125.00 price objective for the company. Susquehanna Bancshares Inc raised shares of PepsiCo from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $118.00 to $132.00 in a research note on Wednesday, April 12th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $115.00 price objective on shares of PepsiCo in a research note on Thursday, March 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $120.35.
Shares of PepsiCo (NYSE:PEP) opened at 113.69 on Friday. The firm has a 50-day moving average price of $112.95 and a 200 day moving average price of $107.62. PepsiCo has a 12-month low of $98.50 and a 12-month high of $114.66. The stock has a market cap of $162.41 billion, a PE ratio of 24.50 and a beta of 0.53.
PepsiCo (NYSE:PEP) last issued its quarterly earnings data on Wednesday, April 26th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. The company had revenue of $12.05 billion during the quarter, compared to the consensus estimate of $11.98 billion. PepsiCo had a net margin of 10.74% and a return on equity of 56.16%. PepsiCo’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.89 earnings per share. Equities research analysts expect that PepsiCo will post $5.14 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 2nd will be given a dividend of $0.805 per share. The ex-dividend date of this dividend is Wednesday, May 31st. This is an increase from PepsiCo’s previous quarterly dividend of $0.75. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.82%. PepsiCo’s dividend payout ratio is presently 66.01%.
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In related news, COO Vivek Sankaran sold 2,000 shares of the company’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $110.22, for a total value of $220,440.00. Following the transaction, the chief operating officer now directly owns 73,595 shares of the company’s stock, valued at approximately $8,111,640.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ramon Laguarta sold 23,585 shares of the company’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $109.05, for a total value of $2,571,944.25. Following the completion of the transaction, the chief executive officer now directly owns 135,859 shares in the company, valued at $14,815,423.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,343 shares of company stock worth $4,850,480. Insiders own 0.33% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in PEP. Beacon Capital Management increased its position in PepsiCo by 100.0% in the fourth quarter. Beacon Capital Management now owns 2 shares of the company’s stock valued at $0 after buying an additional 1 shares during the last quarter. Piershale Financial Group Inc. increased its position in PepsiCo by 0.4% in the second quarter. Piershale Financial Group Inc. now owns 1,005 shares of the company’s stock valued at $106,000 after buying an additional 4 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in PepsiCo by 0.3% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,320 shares of the company’s stock valued at $139,000 after buying an additional 4 shares during the last quarter. Gierl Augustine Investment Management Inc increased its position in PepsiCo by 0.5% in the third quarter. Gierl Augustine Investment Management Inc now owns 1,832 shares of the company’s stock valued at $199,000 after buying an additional 9 shares during the last quarter. Finally, Arete Wealth Advisors LLC increased its position in PepsiCo by 0.4% in the first quarter. Arete Wealth Advisors LLC now owns 2,585 shares of the company’s stock valued at $289,000 after buying an additional 10 shares during the last quarter. 70.43% of the stock is currently owned by hedge funds and other institutional investors.
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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