Pepsico, Inc. (PEP) Stock Rating Reaffirmed by Credit Suisse Group AG
Pepsico, Inc. (NYSE:PEP)‘s stock had its “hold” rating reaffirmed by stock analysts at Credit Suisse Group AG in a research report issued to clients and investors on Thursday. They currently have a $122.00 price target on the stock, down from their prior price target of $124.00. Credit Suisse Group AG’s price target points to a potential upside of 10.46% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on PEP. BidaskClub upgraded Pepsico from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Susquehanna Bancshares Inc reiterated a “buy” rating and issued a $135.00 price target on shares of Pepsico in a research note on Monday. Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a research note on Tuesday. Jefferies Group LLC cut Pepsico from a “buy” rating to a “hold” rating and cut their price target for the company from $133.00 to $108.00 in a research note on Monday. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $115.00 price target on shares of Pepsico in a research note on Friday, June 30th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $121.71.
Shares of Pepsico (PEP) traded down 0.20% during trading on Thursday, hitting $110.23. The stock had a trading volume of 903,160 shares. The stock has a market capitalization of $156.86 billion, a P/E ratio of 22.79 and a beta of 0.68. The stock’s 50-day moving average is $114.33 and its 200-day moving average is $114.73. Pepsico has a 12-month low of $98.50 and a 12-month high of $119.39.
Pepsico (NYSE:PEP) last issued its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.05. The business had revenue of $16.24 billion during the quarter, compared to analysts’ expectations of $16.35 billion. Pepsico had a return on equity of 60.16% and a net margin of 10.97%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.40 earnings per share. Analysts predict that Pepsico will post $5.19 EPS for the current fiscal year.
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In other news, EVP Mehmood Khan sold 63,396 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $116.39, for a total transaction of $7,378,660.44. Following the completion of the transaction, the executive vice president now directly owns 174,273 shares in the company, valued at $20,283,634.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Indra K. Nooyi sold 340,449 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $116.42, for a total transaction of $39,635,072.58. Following the transaction, the chief executive officer now owns 733,315 shares of the company’s stock, valued at $85,372,532.30. The disclosure for this sale can be found here. Insiders have sold 898,164 shares of company stock valued at $104,585,929 over the last quarter. Company insiders own 0.26% of the company’s stock.
Large investors have recently made changes to their positions in the company. Koshinski Asset Management Inc. increased its holdings in shares of Pepsico by 4.0% during the second quarter. Koshinski Asset Management Inc. now owns 6,907 shares of the company’s stock worth $798,000 after buying an additional 265 shares in the last quarter. State of Wisconsin Investment Board increased its holdings in shares of Pepsico by 13.3% during the first quarter. State of Wisconsin Investment Board now owns 1,440,520 shares of the company’s stock worth $161,137,000 after buying an additional 169,049 shares in the last quarter. Westpac Banking Corp increased its holdings in shares of Pepsico by 7.8% during the first quarter. Westpac Banking Corp now owns 209,821 shares of the company’s stock worth $22,373,000 after buying an additional 15,215 shares in the last quarter. Wright Investors Service Inc. increased its holdings 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 buying an additional 9,110 shares in the last quarter. Finally, Gilbert & Cook Inc. increased its holdings in shares of Pepsico by 80.4% during the second quarter. Gilbert & Cook Inc. now owns 4,744 shares of the company’s stock worth $548,000 after buying an additional 2,115 shares in the last quarter. Institutional investors own 70.06% of the company’s stock.
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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