Pepsico’s (PEP) Buy Rating Reiterated at Deutsche Bank AG
Pepsico, Inc. (NYSE:PEP)‘s stock had its “buy” rating reaffirmed by investment analysts at Deutsche Bank AG in a research note issued on Friday. They currently have a $122.00 target price on the stock, down from their previous target price of $125.00. Deutsche Bank AG’s price target points to a potential upside of 10.46% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the company. Jefferies Group LLC reiterated a “buy” rating and set a $133.00 price objective (up previously from $130.00) on shares of Pepsico in a research report on Wednesday, July 12th. Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $129.00 price objective for the company in a research report on Friday, July 14th. BidaskClub upgraded Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Cowen and Company reiterated a “buy” rating on shares of Pepsico in a research report on Sunday, September 17th. Finally, Susquehanna Bancshares Inc reiterated a “buy” rating and set a $135.00 price objective on shares of Pepsico in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Pepsico currently has a consensus rating of “Buy” and an average target price of $121.71.
Pepsico (NYSE PEP) opened at 110.45 on Friday. The firm’s 50-day moving average price is $114.33 and its 200 day moving average price is $114.73. Pepsico has a 52-week low of $98.50 and a 52-week high of $119.39. The stock has a market cap of $157.17 billion, a P/E ratio of 22.83 and a beta of 0.68.
Pepsico (NYSE:PEP) last released its earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.05. The firm had revenue of $16.24 billion during the quarter, compared to the consensus estimate 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 prior year, the firm posted $1.40 earnings per share. Equities analysts predict that Pepsico will post $5.19 earnings per share for the current year.
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In other Pepsico news, CEO Indra K. Nooyi sold 340,449 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $116.42, for a total transaction of $39,635,072.58. Following the sale, the chief executive officer now directly owns 733,315 shares of the company’s stock, valued at approximately $85,372,532.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Indra K. Nooyi sold 452,830 shares of the business’s 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 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 three months, insiders have sold 898,164 shares of company stock worth $104,585,929. Company insiders own 0.26% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Curbstone Financial Management Corp raised its stake in Pepsico by 98.2% during the 3rd quarter. Curbstone Financial Management Corp now owns 27,442 shares of the company’s stock valued at $3,058,000 after purchasing an additional 13,596 shares during the period. Bridges Investment Management Inc. raised its stake in Pepsico by 0.6% during the 3rd quarter. Bridges Investment Management Inc. now owns 95,404 shares of the company’s stock valued at $10,631,000 after purchasing an additional 584 shares during the period. Perpetual Ltd raised its stake in Pepsico by 6.7% during the 2nd quarter. Perpetual Ltd now owns 14,265 shares of the company’s stock valued at $1,647,000 after purchasing an additional 900 shares during the period. MPS Loria Financial Planners LLC acquired a new stake in Pepsico during the 2nd quarter valued at $240,000. Finally, Frontier Investment Mgmt Co. raised its stake in Pepsico by 6.6% during the 2nd quarter. Frontier Investment Mgmt Co. now owns 10,574 shares of the company’s stock valued at $1,221,000 after purchasing an additional 658 shares during the period. 70.06% of the stock is currently owned by institutional investors.
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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