BMO Capital Markets reaffirmed their hold rating on shares of Pepsico, Inc. (NYSE:PEP) in a research report released on Wednesday, September 6th. BMO Capital Markets currently has a $120.00 price objective on the stock.
A number of other brokerages have also recently issued reports on PEP. BidaskClub raised Pepsico from a hold rating to a buy rating in a research report on Thursday, August 17th. Zacks Investment Research raised Pepsico from a hold rating to a buy rating and set a $132.00 price objective for the company in a research report on Tuesday, August 22nd. Stifel Nicolaus reissued a hold rating on shares of Pepsico in a research note on Wednesday, May 31st. Finally, Royal Bank Of Canada reissued a hold rating and set a $115.00 target price on shares of Pepsico in a research note on Thursday, May 25th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $123.32.
Pepsico (NYSE PEP) traded down 0.48% during mid-day trading on Wednesday, reaching $114.45. 5,141,186 shares of the company were exchanged. The company has a market capitalization of $163.15 billion, a PE ratio of 24.24 and a beta of 0.68. Pepsico has a one year low of $98.50 and a one year high of $119.39. The stock has a 50-day moving average price of $116.63 and a 200 day moving average price of $114.53.
Pepsico (NYSE:PEP) last announced its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.10. The business had revenue of $15.71 billion for the quarter, compared to analyst estimates of $15.57 billion. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.35 EPS. Analysts predict that Pepsico will post $5.15 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.805 per share. This represents a $3.22 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Wednesday, August 30th. Pepsico’s dividend payout ratio (DPR) is 68.22%.
In other Pepsico news, CEO Indra K. Nooyi sold 340,449 shares of the business’s stock in a transaction dated 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 in the company, valued at $85,372,532.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Indra K. Nooyi sold 452,830 shares of the business’s stock in a transaction dated 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 transaction, the chairman now owns 733,315 shares in the company, valued at approximately $85,387,198.60. The disclosure for this sale can be found here. Insiders have sold 898,164 shares of company stock worth $104,585,929 in the last 90 days. Insiders own 0.26% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Barnett & Company Inc. increased its position in shares of Pepsico by 270.4% during the second quarter. Barnett & Company Inc. now owns 900 shares of the company’s stock worth $104,000 after acquiring an additional 657 shares during the last quarter. Aviance Capital Management LLC purchased a new stake in shares of Pepsico during the second quarter worth about $111,000. Asset Planning Services Ltd. increased its position in shares of Pepsico by 66.1% during the first quarter. Asset Planning Services Ltd. now owns 1,003 shares of the company’s stock worth $112,000 after acquiring an additional 399 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of Pepsico by 5.9% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,211 shares of the company’s stock worth $138,000 after acquiring an additional 67 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. increased its position in shares of Pepsico by 14.9% during the first quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock worth $142,000 after acquiring an additional 165 shares during the last quarter. 70.16% of the stock is currently owned by institutional investors and hedge funds.
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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