$15.64 Billion in Sales Expected for Pepsico, Inc. (PEP) This Quarter
Brokerages forecast that Pepsico, Inc. (NYSE:PEP) will post $15.64 billion in sales for the current quarter, Zacks reports. Five analysts have made estimates for Pepsico’s earnings, with the lowest sales estimate coming in at $15.46 billion and the highest estimate coming in at $15.82 billion. Pepsico posted sales of $15.40 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 1.6%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Tuesday, July 11th.
According to Zacks, analysts expect that Pepsico will report full year sales of $15.64 billion for the current financial year, with estimates ranging from $62.85 billion to $63.80 billion. For the next fiscal year, analysts anticipate that the company will report sales of $65.88 billion per share, with estimates ranging from $64.68 billion to $66.37 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Pepsico.
Pepsico (NYSE:PEP) last issued its earnings results on Wednesday, April 26th. The company reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.03. Pepsico had a return on equity of 58.42% and a net margin of 10.66%. The business had revenue of $12.05 billion during the quarter, compared to analysts’ expectations of $11.98 billion. During the same quarter last year, the firm posted $0.89 earnings per share. Pepsico’s revenue was up 1.6% compared to the same quarter last year.
A number of brokerages recently weighed in on PEP. Stifel Nicolaus reaffirmed a “hold” rating on shares of Pepsico in a research note on Wednesday, May 31st. BMO Capital Markets lowered shares of Pepsico from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $118.00 to $120.00 in a research note on Wednesday, June 7th. They noted that the move was a valuation call. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $115.00 target price on shares of Pepsico in a research note on Thursday, May 25th. Jefferies Group LLC upped their target price on shares of Pepsico from $120.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, April 19th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Pepsico in a research note on Thursday, April 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Pepsico presently has an average rating of “Buy” and a consensus price target of $120.66.
Shares of Pepsico (NYSE PEP) traded down 0.43% during mid-day trading on Thursday, hitting $116.92. The company had a trading volume of 237,056 shares. The company has a market capitalization of $167.02 billion, a P/E ratio of 25.19 and a beta of 0.68. The firm’s 50-day moving average price is $115.40 and its 200 day moving average price is $109.78. Pepsico has a one year low of $98.50 and a one year high of $118.14.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 2nd will be issued a $0.805 dividend. This is a boost from Pepsico’s previous quarterly dividend of $0.75. This represents a $3.22 annualized dividend and a yield of 2.74%. The ex-dividend date is Wednesday, May 31st. Pepsico’s dividend payout ratio is currently 69.40%.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Almanack Investment Partners LLC. bought a new position in Pepsico during the first quarter valued at $109,000. Asset Planning Services Ltd. boosted its position in shares of Pepsico by 66.1% in the first quarter. Asset Planning Services Ltd. now owns 1,003 shares of the company’s stock valued at $112,000 after buying an additional 399 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Pepsico during the fourth quarter valued at approximately $125,000. Riggs Asset Managment Co. Inc. boosted its position in shares of Pepsico by 14.9% in the first quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock valued at $142,000 after buying an additional 165 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC boosted its position in shares of Pepsico by 8.0% in the first quarter. Signature Estate & Investment Advisors LLC now owns 1,282 shares of the company’s stock valued at $143,000 after buying an additional 95 shares in the last quarter. 71.26% 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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