Jefferies Group LLC reissued their buy rating on shares of Pepsico, Inc. (NYSE:PEP) in a research report sent to investors on Wednesday morning. The firm currently has a $133.00 price target on the stock, up from their prior price target of $130.00.
Other research analysts also recently issued reports about the company. Credit Suisse Group lifted their price target on Pepsico from $115.00 to $121.00 and gave the stock a buy rating in a research report on Thursday, March 23rd. BMO Capital Markets reissued a buy rating and set a $115.00 price objective on shares of Pepsico in a report on Wednesday, March 22nd. Vetr raised Pepsico from a hold rating to a buy rating and set a $125.54 price objective on the stock in a report on Wednesday, April 26th. Royal Bank Of Canada set a $115.00 price objective on Pepsico and gave the stock a hold rating in a report on Monday, April 24th. Finally, Barclays PLC reissued a hold rating and set a $113.00 price objective on shares of Pepsico in a report on Friday, April 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $122.44.
Pepsico (NYSE:PEP) traded down 0.42% during trading on Wednesday, hitting $114.29. The stock had a trading volume of 1,475,662 shares. The company’s 50-day moving average is $116.14 and its 200 day moving average is $110.39. The firm has a market cap of $162.98 billion, a PE ratio of 24.18 and a beta of 0.67. Pepsico has a 52 week low of $98.50 and a 52 week high of $118.24. Pepsico also saw unusually large options trading on Monday. Stock investors bought 11,040 put options on the stock. This is an increase of 413% compared to the average volume of 2,152 put options.
Pepsico (NYSE:PEP) last issued its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.10. The company had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $15.57 billion. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.35 EPS. Equities analysts expect that Pepsico will post $5.15 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 2nd were given a dividend of $0.805 per share. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.81%. This is an increase from Pepsico’s previous quarterly dividend of $0.75. Pepsico’s payout ratio is presently 68.22%.
Large investors have recently added to or reduced their stakes in the stock. Chevy Chase Trust Holdings Inc. increased its stake in Pepsico by 0.6% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,597,900 shares of the company’s stock worth $184,542,000 after buying an additional 10,205 shares in the last quarter. Somerset Trust Co increased its stake in Pepsico by 2.8% in the second quarter. Somerset Trust Co now owns 12,790 shares of the company’s stock worth $1,477,000 after buying an additional 352 shares in the last quarter. National Pension Service increased its stake in Pepsico by 9.8% in the second quarter. National Pension Service now owns 1,037,487 shares of the company’s stock worth $119,498,000 after buying an additional 92,487 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Pepsico by 2.2% in the second quarter. State of Alaska Department of Revenue now owns 154,719 shares of the company’s stock worth $17,867,000 after buying an additional 3,335 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Pepsico by 5.0% in the second quarter. Fisher Asset Management LLC now owns 5,775,278 shares of the company’s stock worth $666,987,000 after buying an additional 277,607 shares in the last quarter. Institutional investors and hedge funds own 70.31% 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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