BidaskClub upgraded shares of PepsiCo (NASDAQ:PEP) from a sell rating to a hold rating in a report issued on Saturday, September 15th.
A number of other brokerages have also issued reports on PEP. JPMorgan Chase & Co. set a $128.00 price objective on shares of PepsiCo and gave the company a buy rating in a report on Wednesday, July 11th. Morgan Stanley raised their price objective on shares of PepsiCo from $123.00 to $127.00 and gave the company a buy rating in a report on Wednesday, July 11th. Deutsche Bank lowered shares of PepsiCo from a buy rating to a hold rating and set a $116.00 price objective for the company. in a report on Tuesday, July 3rd. Citigroup raised their price objective on shares of PepsiCo from $111.00 to $118.00 and gave the company a neutral rating in a report on Wednesday, July 11th. Finally, Zacks Investment Research lowered shares of PepsiCo from a hold rating to a sell rating in a report on Wednesday, June 27th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $117.89.
Shares of PEP traded up $1.70 during mid-day trading on Friday, reaching $108.19. The company had a trading volume of 3,993,800 shares, compared to its average volume of 5,013,225. PepsiCo has a 1-year low of $95.94 and a 1-year high of $122.51. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 3.00. The company has a market cap of $158.12 billion, a P/E ratio of 20.52, a PEG ratio of 2.63 and a beta of 0.67.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 2nd. The company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. The company had revenue of $16.49 billion for the quarter, compared to the consensus estimate of $16.38 billion. PepsiCo had a net margin of 7.14% and a return on equity of 67.06%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $1.48 EPS. On average, equities analysts forecast that PepsiCo will post 5.69 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 7th were issued a dividend of $0.9275 per share. The ex-dividend date was Thursday, September 6th. This represents a $3.71 annualized dividend and a yield of 3.43%. PepsiCo’s payout ratio is 70.94%.
In other PepsiCo news, CEO Laxman Narasimhan sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $106.79, for a total transaction of $587,345.00. Following the completion of the transaction, the chief executive officer now owns 130,135 shares in the company, valued at approximately $13,897,116.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.27% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in PEP. Mainstay Capital Management LLC ADV grew its position in PepsiCo by 10,787.0% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 10,887 shares of the company’s stock valued at $100,000 after purchasing an additional 10,787 shares during the period. Wagner Wealth Management LLC acquired a new stake in PepsiCo in the 4th quarter valued at $109,000. WP Advisors LLC acquired a new stake in PepsiCo in the 2nd quarter valued at $118,000. Well Done LLC acquired a new stake in PepsiCo in the 1st quarter valued at $125,000. Finally, Fort L.P. acquired a new stake in PepsiCo in the 2nd quarter valued at $125,000. Institutional investors own 70.45% of the company’s stock.
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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