Pepsico, Inc. (PEP) Coverage Initiated at Macquarie
Equities researchers at Macquarie began coverage on shares of Pepsico, Inc. (NYSE:PEP) in a research report issued on Thursday, The Fly reports. The brokerage set an “outperform” rating on the stock.
Several other research firms have also recently commented on PEP. BidaskClub upgraded shares of Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Zacks Investment Research upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research report on Tuesday, August 22nd. Stifel Nicolaus restated a “hold” rating on shares of Pepsico in a research report on Wednesday, May 31st. BMO Capital Markets cut 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 report on Wednesday, June 7th. They noted that the move was a valuation call. Finally, Credit Suisse Group cut shares of Pepsico from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $126.00 to $124.00 in a report on Friday, September 8th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Pepsico presently has a consensus rating of “Buy” and a consensus price target of $123.32.
Pepsico (PEP) traded down 0.25% during trading on Thursday, hitting $114.16. The company had a trading volume of 2,774,686 shares. The company has a market cap of $162.74 billion, a PE ratio of 24.18 and a beta of 0.68. The company’s 50 day moving average price is $116.49 and its 200-day moving average price is $114.52. Pepsico has a 12 month low of $98.50 and a 12 month high of $119.39. Pepsico also was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 1,176 call options on the stock. This represents an increase of approximately 536% compared to the average volume of 185 call options.
Pepsico (NYSE:PEP) last released its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.10. The firm had revenue of $15.71 billion for the quarter, compared to analyst estimates of $15.57 billion. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. Pepsico’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.35 earnings per share. Equities analysts expect that Pepsico will post $5.16 earnings per share for the current year.
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In other news, Chairman Indra K. Nooyi sold 452,830 shares of the stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $116.44, for a total transaction of $52,727,525.20. Following the transaction, the chairman now owns 733,315 shares in the company, valued at approximately $85,387,198.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Marie T. Gallagher sold 41,489 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $116.77, for a total transaction of $4,844,670.53. Following the transaction, the senior vice president now owns 76,037 shares in the company, valued at approximately $8,878,840.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 898,164 shares of company stock valued at $104,585,929. Insiders own 0.26% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in PEP. Barnett & Company Inc. increased its stake in shares of Pepsico by 270.4% during the 2nd quarter. Barnett & Company Inc. now owns 900 shares of the company’s stock worth $104,000 after purchasing an additional 657 shares during the last quarter. Aviance Capital Management LLC acquired a new position in shares of Pepsico during the 2nd quarter worth $111,000. Asset Planning Services Ltd. increased its stake in shares of Pepsico by 66.1% during the 1st quarter. Asset Planning Services Ltd. now owns 1,003 shares of the company’s stock worth $112,000 after purchasing an additional 399 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Pepsico by 5.9% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,211 shares of the company’s stock worth $138,000 after purchasing an additional 67 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. grew its stake in Pepsico by 14.9% in the 1st 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 during the last quarter. Institutional investors own 70.16% 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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