PepsiCo Inc. (NYSE:PEP) – Equities research analysts at Gabelli raised their FY2016 earnings per share estimates for PepsiCo in a note issued to investors on Friday. Gabelli analyst D. Witkowski now expects that the firm will post earnings per share of $4.80 for the year, up from their previous estimate of $4.70.
PepsiCo (NYSE:PEP) last announced its quarterly earnings results on Thursday, September 29th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.08. The business earned $16 billion during the quarter. PepsiCo had a net margin of 8.34% and a return on equity of 54.91%. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.35 EPS.
PEP has been the subject of several other research reports. Bank of America Corp. reiterated a “buy” rating and set a $120.00 target price on shares of PepsiCo in a research note on Thursday, September 22nd. Credit Agricole SA reiterated an “outperform” rating on shares of PepsiCo in a research note on Monday, August 22nd. Credit Suisse Group AG started coverage on shares of PepsiCo in a research note on Thursday, September 15th. They set an “outperform” rating and a $121.00 target price for the company. Zacks Investment Research lowered shares of PepsiCo from a “hold” rating to a “sell” rating in a research note on Wednesday, September 7th. Finally, Susquehanna reiterated a “neutral” rating on shares of PepsiCo in a research note on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company’s stock. PepsiCo currently has a consensus rating of “Buy” and a consensus target price of $111.39.
PepsiCo (NYSE:PEP) opened at 108.77 on Monday. The stock has a market cap of $156.54 billion, a P/E ratio of 30.73 and a beta of 0.48. PepsiCo has a one year low of $93.25 and a one year high of $110.94. The stock has a 50 day moving average of $107.19 and a 200-day moving average of $105.12.
Several institutional investors have recently modified their holdings of the stock. Bridge Creek Capital Management LLC increased its position in shares of PepsiCo by 0.4% in the first quarter. Bridge Creek Capital Management LLC now owns 39,268 shares of the company’s stock worth $4,024,000 after buying an additional 162 shares in the last quarter. BTR Capital Management Inc. increased its position in PepsiCo by 6.0% in the first quarter. BTR Capital Management Inc. now owns 110,496 shares of the company’s stock worth $11,324,000 after buying an additional 6,225 shares in the last quarter. Iberiabank Corp increased its position in PepsiCo by 28.7% in the first quarter. Iberiabank Corp now owns 5,544 shares of the company’s stock worth $568,000 after buying an additional 1,236 shares in the last quarter. Mission Wealth Management LLC increased its position in PepsiCo by 84.8% in the first quarter. Mission Wealth Management LLC now owns 12,417 shares of the company’s stock worth $1,272,000 after buying an additional 5,698 shares in the last quarter. Finally, Culbertson A N & Co. Inc. purchased a new position in PepsiCo during the first quarter worth approximately $7,123,000. Institutional investors own 69.81% of the company’s stock.
In other news, CEO Albert P. Carey sold 170,003 shares of the company’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $108.81, for a total value of $18,498,026.43. Following the transaction, the chief executive officer now owns 306,138 shares in the company, valued at approximately $33,310,875.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mehmood Khan sold 51,137 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $107.30, for a total value of $5,487,000.10. Following the completion of the transaction, the executive vice president now owns 164,464 shares in the company, valued at approximately $17,646,987.20. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.
The firm 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. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $3.01 dividend on an annualized basis and a dividend yield of 2.77%. PepsiCo’s dividend payout ratio is 84.79%.
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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