Pepsico, Inc. (PEP) Releases FY17 Earnings Guidance
Pepsico, Inc. (NYSE:PEP) updated its FY17 earnings guidance on Wednesday. The company provided EPS guidance of $5.23 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.16.
Several research firms have commented on PEP. Zacks Investment Research lowered shares of Pepsico from a buy rating to a hold rating in a report on Monday, September 4th. Susquehanna Bancshares Inc reiterated a positive rating and set a $133.00 price objective (down previously from $134.00) on shares of Pepsico in a research note on Thursday, July 6th. BidaskClub upgraded Pepsico from a hold rating to a buy rating in a research note on Thursday, August 17th. BMO Capital Markets reissued a hold rating and issued a $120.00 price objective on shares of Pepsico in a report on Wednesday, September 6th. Finally, Cowen and Company reissued a buy rating on shares of Pepsico in a report on Sunday, September 17th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Pepsico currently has an average rating of Buy and an average target price of $121.87.
Pepsico, Inc. (NYSE PEP) opened at 109.13 on Wednesday. The firm has a market capitalization of $155.57 billion, a P/E ratio of 23.11 and a beta of 0.68. Pepsico, Inc. has a 52 week low of $98.50 and a 52 week high of $119.39. The stock’s 50 day moving average price is $114.86 and its 200 day moving average price is $114.80. Pepsico also saw unusually large options trading activity on Monday. Investors bought 5,616 put options on the company. This represents an increase of approximately 248% compared to the average daily volume of 1,616 put options.
Pepsico (NYSE:PEP) last released its earnings results on Wednesday, September 27th. The company reported $1.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.05. The company had revenue of $16.24 billion during the quarter, compared to analysts’ expectations of $16.35 billion. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the business earned $1.40 EPS. On average, equities analysts expect that Pepsico, Inc. will post $5.16 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 1st were paid a dividend of $0.805 per share. The ex-dividend date was Wednesday, August 30th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.95%. Pepsico’s dividend payout ratio (DPR) is 68.22%.
In other Pepsico news, Chairman Indra K. Nooyi sold 452,830 shares of the stock in a transaction on 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 completion of the transaction, the chairman now owns 733,315 shares in the company, valued at $85,387,198.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $4,844,670.53. Following the completion of the transaction, the senior vice president now owns 76,037 shares of the company’s stock, valued at approximately $8,878,840.49. The disclosure for this sale can be found here. In the last 90 days, insiders sold 898,164 shares of company stock valued at $104,585,929. 0.26% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Pepsico by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 112,083,751 shares of the company’s stock valued at $12,944,553,000 after purchasing an additional 2,635,738 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Pepsico by 910.5% in the second quarter. Janus Henderson Group PLC now owns 2,907,923 shares of the company’s stock valued at $335,840,000 after purchasing an additional 2,620,149 shares during the period. Parametric Portfolio Associates LLC lifted its stake in shares of Pepsico by 49.9% in the second quarter. Parametric Portfolio Associates LLC now owns 4,155,387 shares of the company’s stock valued at $479,906,000 after purchasing an additional 1,383,267 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Pepsico by 29.9% in the second quarter. Renaissance Technologies LLC now owns 5,642,700 shares of the company’s stock valued at $651,675,000 after purchasing an additional 1,298,900 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Pepsico by 29.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,789,330 shares of the company’s stock valued at $437,630,000 after purchasing an additional 864,524 shares during the period. Institutional investors own 70.06% 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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