BidaskClub Lowers Pepsico, Inc. (PEP) to Hold
Pepsico, Inc. (NYSE:PEP) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Friday.
Several other equities research analysts have also commented on the company. BMO Capital Markets restated a “buy” rating and set a $115.00 price target on shares of Pepsico in a research note on Thursday, April 27th. Jefferies Group LLC reiterated a “buy” rating and issued a $127.00 target price on shares of Pepsico in a research note on Friday, May 19th. Zacks Investment Research lowered Pepsico from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Vetr upgraded Pepsico from a “buy” rating to a “strong-buy” rating and set a $125.54 price objective for the company in a research note on Wednesday, May 3rd. Finally, Susquehanna Bancshares Inc restated a “positive” rating and set a $134.00 price objective (up previously from $132.00) on shares of Pepsico in a research note on Monday, May 1st. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $123.61.
Pepsico (PEP) traded down 0.32% during trading on Friday, hitting $115.85. 3,443,098 shares of the stock traded hands. The stock has a 50 day moving average price of $116.36 and a 200-day moving average price of $113.70. Pepsico has a 52-week low of $98.50 and a 52-week high of $119.39. The stock has a market cap of $165.15 billion, a P/E ratio of 24.53 and a beta of 0.67.
Pepsico (NYSE:PEP) last issued its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.10. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The business had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $15.57 billion. During the same period in the prior year, the business earned $1.35 earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. On average, analysts anticipate that Pepsico will post $5.15 EPS for the current fiscal year.
In other news, EVP Mehmood Khan sold 63,396 shares of Pepsico stock in a transaction on Monday, July 24th. The stock was sold at an average price of $116.39, for a total transaction of $7,378,660.44. Following the transaction, the executive vice president now directly owns 174,273 shares in the company, valued at approximately $20,283,634.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Marie T. Gallagher sold 41,489 shares of Pepsico stock in a transaction on Monday, August 7th. The shares were sold at an average price of $116.77, for a total value of $4,844,670.53. Following the transaction, the senior vice president now owns 76,037 shares in the company, valued at $8,878,840.49. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 898,164 shares of company stock worth $104,585,929. 0.26% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of PEP. Toronto Dominion Bank boosted its position in shares of Pepsico by 14.2% in the second quarter. Toronto Dominion Bank now owns 548,651 shares of the company’s stock valued at $63,363,000 after buying an additional 68,386 shares during the period. Oak Associates Ltd. OH boosted its position in shares of Pepsico by 0.3% in the second quarter. Oak Associates Ltd. OH now owns 212,235 shares of the company’s stock valued at $24,511,000 after buying an additional 584 shares during the period. Family Management Corp boosted its position in shares of Pepsico by 79.2% in the second quarter. Family Management Corp now owns 31,970 shares of the company’s stock valued at $3,692,000 after buying an additional 14,133 shares during the period. Cetera Investment Advisers boosted its position in shares of Pepsico by 9.9% in the second quarter. Cetera Investment Advisers now owns 7,634 shares of the company’s stock valued at $886,000 after buying an additional 690 shares during the period. Finally, EP Wealth Advisors LLC boosted its position in shares of Pepsico by 1.6% in the second quarter. EP Wealth Advisors LLC now owns 148,531 shares of the company’s stock valued at $17,154,000 after buying an additional 2,383 shares during the period. Institutional investors own 70.19% of the company’s stock.
Pepsico Company Profile
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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