Several other brokerages have also commented on PEP. BMO Capital Markets restated an outperform rating on shares of PepsiCo in a report on Friday, July 15th. Zacks Investment Research lowered shares of PepsiCo from a buy rating to a hold rating in a report on Wednesday, July 13th. Argus upped their price objective on shares of PepsiCo from $116.00 to $124.00 and gave the stock a buy rating in a report on Wednesday, July 13th. Sanford C. Bernstein restated an outperform rating and issued a $118.00 price objective on shares of PepsiCo in a report on Wednesday, August 10th. Finally, Susquehanna restated a neutral rating on shares of PepsiCo in a report on Sunday, July 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $112.25.
PepsiCo (NYSE:PEP) opened at 107.10 on Friday. The firm has a 50-day moving average of $107.14 and a 200 day moving average of $105.27. PepsiCo has a 12-month low of $93.25 and a 12-month high of $110.94. The stock has a market capitalization of $153.60 billion, a price-to-earnings ratio of 23.50 and a beta of 0.46.
PepsiCo (NYSE:PEP) last posted its quarterly earnings results on Thursday, September 29th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.08. PepsiCo had a net margin of 10.74% and a return on equity of 57.14%. The business earned $16 billion during the quarter. During the same period last year, the company earned $1.35 EPS. The business’s quarterly revenue was down 1.9% on a year-over-year basis. On average, analysts predict that PepsiCo will post $4.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 2nd were issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Wednesday, August 31st. PepsiCo’s payout ratio is 66.01%.
In other news, CEO Albert P. Carey sold 170,003 shares of PepsiCo stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $108.81, for a total value of $18,498,026.43. Following the sale, the chief executive officer now owns 306,138 shares of the company’s stock, valued at $33,310,875.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Laxman Narasimhan sold 3,219 shares of PepsiCo stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $109.11, for a total transaction of $351,225.09. Following the completion of the sale, the chief executive officer now directly owns 97,057 shares in the company, valued at approximately $10,589,889.27. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in shares of PepsiCo by 40.9% in the first quarter. Wellington Management Group LLP now owns 21,691,078 shares of the company’s stock valued at $2,222,902,000 after buying an additional 6,297,861 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of PepsiCo during the second quarter valued at $519,379,000. Emerald Acquisition Ltd. purchased a new stake in shares of PepsiCo during the second quarter valued at $370,675,000. Winslow Capital Management LLC purchased a new stake in shares of PepsiCo during the second quarter valued at $358,422,000. Finally, Vanguard Group Inc. increased its stake in shares of PepsiCo by 2.3% in the second quarter. Vanguard Group Inc. now owns 100,515,744 shares of the company’s stock valued at $10,648,637,000 after buying an additional 2,290,350 shares during the last quarter. 69.81% of the stock is currently owned by institutional investors and hedge funds.
PepsiCo, Inc is a food and beverage company. The Company, through its operations, bottlers, contract manufacturers and other third parties, is engaged in making, marketing, distributing and selling a range of beverages, foods and snacks, serving in over 200 countries and territories. The Company operates through six segments, namely, Frito-Lay North America (FLNA); Quaker Foods North America (QFNA); North America Beverages (NAB); Latin America, which includes its beverage, food and snack businesses in Latin America; Europe Sub-Saharan Africa (ESSA), which includes its beverage, food and snack businesses in Europe and Sub-Saharan Africa, and Asia, Middle East and North Africa (AMENA), which includes its beverage, food and snack businesses in Asia, Middle East and North Africa.
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