Morgan Stanley reissued their overweight rating on shares of PepsiCo Inc. (NYSE:PEP) in a research report report published on Friday. Morgan Stanley currently has a $121.00 price objective on the stock.
A number of other equities analysts have also recently issued reports on PEP. Susquehanna restated a neutral rating on shares of PepsiCo in a report on Tuesday, June 14th. Zacks Investment Research raised PepsiCo from a hold rating to a buy rating and set a $116.00 target price on the stock in a research report on Tuesday, June 21st. Goldman Sachs Group Inc. reaffirmed a neutral rating and set a $104.00 target price (down from $105.00) on shares of PepsiCo in a research report on Wednesday, June 29th. Jefferies Group reaffirmed a buy rating and set a $119.00 target price on shares of PepsiCo in a research report on Wednesday, June 29th. Finally, Vetr lowered PepsiCo from a hold rating to a sell rating and set a $99.50 target price on the stock. in a research report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $111.39.
PepsiCo (NYSE:PEP) opened at 107.99 on Friday. The company has a market capitalization of $154.88 billion, a PE ratio of 23.69 and a beta of 0.46. PepsiCo has a 1-year low of $93.25 and a 1-year high of $110.94. The company has a 50 day moving average of $107.19 and a 200 day moving average of $105.12.
PepsiCo (NYSE:PEP) last posted its quarterly earnings results on Thursday, September 29th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.08. The firm had revenue of $16 billion for the quarter. PepsiCo had a return on equity of 57.14% and a net margin of 10.74%. PepsiCo’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.35 earnings per share. On average, analysts predict that PepsiCo will post $4.79 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 2nd were paid a $0.7525 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $3.01 annualized dividend and a yield of 2.77%. PepsiCo’s dividend payout ratio is currently 66.01%.
In other PepsiCo news, EVP Mehmood Khan sold 51,137 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ramon Laguarta sold 17,221 shares of the firm’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $108.27, for a total value of $1,864,517.67. Following the completion of the transaction, the chief executive officer now owns 142,325 shares of the company’s stock, valued at approximately $15,409,527.75. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. 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 worth $2,222,902,000 after buying an additional 6,297,861 shares during the period. Bank of Montreal Can acquired a new stake in shares of PepsiCo during the second quarter worth about $519,379,000. Emerald Acquisition Ltd. acquired a new stake in shares of PepsiCo during the second quarter worth about $370,675,000. Winslow Capital Management LLC acquired a new stake in shares of PepsiCo during the second quarter worth about $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 worth $10,648,637,000 after buying an additional 2,290,350 shares during the period. Institutional investors and hedge funds own 69.81% of the company’s stock.
PepsiCo Company Profile
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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