Pepsico, Inc. (PEP) Earns Buy Rating from Cowen and Company
Pepsico, Inc. (NYSE:PEP)‘s stock had its “buy” rating reaffirmed by equities researchers at Cowen and Company in a research note issued on Sunday.
Several other brokerages have also weighed in on PEP. Jefferies Group LLC reaffirmed a “buy” rating and issued a $133.00 target price (up from $130.00) on shares of Pepsico in a research report on Wednesday, July 12th. BidaskClub lowered Pepsico from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Zacks Investment Research raised Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research report on Tuesday, August 22nd. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $115.00 target price on shares of Pepsico in a research report on Thursday, May 25th. Finally, Credit Suisse Group lowered Pepsico from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $126.00 to $124.00 in a research report on Friday, September 8th. Six analysts have rated the stock with a hold rating, thirteen have assigned 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 price target of $123.44.
Shares of Pepsico (NYSE:PEP) opened at 114.85 on Friday. The stock has a market capitalization of $163.72 billion, a PE ratio of 24.32 and a beta of 0.68. Pepsico has a one year low of $98.50 and a one year high of $119.39. The stock’s 50 day moving average price is $116.42 and its 200 day moving average price is $114.56.
Pepsico (NYSE:PEP) last issued its earnings results 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 business had revenue of $15.71 billion for the quarter, compared to analyst estimates of $15.57 billion. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the company posted $1.35 EPS. Equities research analysts predict that Pepsico will post $5.16 EPS for the current fiscal year.
In other news, EVP Mehmood Khan sold 63,396 shares of Pepsico stock in a transaction dated 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 sale, the executive vice president now directly owns 174,273 shares of the company’s stock, valued at $20,283,634.47. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Indra K. Nooyi sold 452,830 shares of Pepsico stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $116.44, for a total value of $52,727,525.20. Following the sale, the chairman now directly owns 733,315 shares in the company, valued at $85,387,198.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 898,164 shares of company stock worth $104,585,929. Corporate insiders own 0.26% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Wright Investors Service Inc. increased its position in shares of Pepsico by 69.2% during the second quarter. Wright Investors Service Inc. now owns 22,280 shares of the company’s stock worth $2,573,000 after acquiring an additional 9,110 shares during the last quarter. National Pension Service increased its position in shares of Pepsico by 2.0% during the first quarter. National Pension Service now owns 945,000 shares of the company’s stock worth $106,010,000 after acquiring an additional 18,835 shares during the last quarter. Univest Corp of Pennsylvania increased its position in shares of Pepsico by 0.7% during the first quarter. Univest Corp of Pennsylvania now owns 2,350 shares of the company’s stock worth $263,000 after acquiring an additional 17 shares during the last quarter. Hays Advisory LLC increased its position in shares of Pepsico by 11.6% during the first quarter. Hays Advisory LLC now owns 2,244 shares of the company’s stock worth $251,000 after acquiring an additional 233 shares during the last quarter. Finally, Ledyard National Bank increased its position in shares of Pepsico by 9.2% during the first quarter. Ledyard National Bank now owns 55,779 shares of the company’s stock worth $6,240,000 after acquiring an additional 4,720 shares during the last quarter. 70.16% of the stock is currently owned by institutional investors and hedge funds.
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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