Susquehanna Bancshares Inc Reaffirms “Buy” Rating for Pepsico, Inc. (PEP)
Pepsico, Inc. (NYSE:PEP)‘s stock had its “buy” rating reissued by equities researchers at Susquehanna Bancshares Inc in a report released on Monday, October 2nd. They currently have a $135.00 price objective on the stock. Susquehanna Bancshares Inc’s price objective suggests a potential upside of 19.87% from the stock’s previous close.
A number of other analysts have also issued reports on PEP. BidaskClub raised shares of Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Jefferies Group LLC lowered shares of Pepsico from a “buy” rating to a “hold” rating and cut their price objective for the company from $133.00 to $108.00 in a research report on Monday, October 2nd. Zacks Investment Research raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a research report on Tuesday, August 22nd. Royal Bank Of Canada reiterated a “hold” rating and set a $115.00 price target on shares of Pepsico in a report on Friday, June 30th. Finally, Credit Suisse Group increased their price target on Pepsico from $124.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, July 12th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Pepsico currently has a consensus rating of “Buy” and an average target price of $121.80.
Pepsico (NYSE PEP) traded up 0.15% during midday trading on Monday, reaching $112.62. 3,090,451 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $113.25 and its 200-day moving average price is $114.71. Pepsico has a 1-year low of $98.50 and a 1-year high of $119.39. The company has a market capitalization of $160.16 billion, a PE ratio of 23.27 and a beta of 0.68.
Pepsico (NYSE:PEP) last announced its earnings results on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.43 by $0.05. The company had revenue of $16.24 billion during the quarter, compared to analysts’ expectations of $16.35 billion. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the company posted $1.40 earnings per share. Equities analysts expect that Pepsico will post $5.23 EPS for the current year.
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In other news, Chairman Indra K. Nooyi sold 452,830 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $116.44, for a total transaction of $52,727,525.20. Following the sale, the chairman now owns 733,315 shares in the company, valued at approximately $85,387,198.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Indra K. Nooyi sold 340,449 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $116.42, for a total value of $39,635,072.58. Following the sale, the chief executive officer now owns 733,315 shares in the company, valued at approximately $85,372,532.30. The disclosure for this sale can be found here. Insiders sold a total of 919,613 shares of company stock valued at $106,956,258 over the last quarter. 0.26% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Asset Planning Services Ltd. grew its holdings in Pepsico by 0.3% in the 2nd quarter. Asset Planning Services Ltd. now owns 1,006 shares of the company’s stock valued at $116,000 after buying an additional 3 shares in the last quarter. Accurate Investment Solutions Inc. grew its holdings in shares of Pepsico by 0.3% during the 2nd quarter. Accurate Investment Solutions Inc. now owns 1,851 shares of the company’s stock worth $214,000 after purchasing an additional 5 shares in the last quarter. Northwest Wealth Management LLC grew its holdings in shares of Pepsico by 0.4% during the 2nd quarter. Northwest Wealth Management LLC now owns 2,511 shares of the company’s stock worth $290,000 after purchasing an additional 11 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in shares of Pepsico by 0.3% during the 2nd quarter. Sunbelt Securities Inc. now owns 4,682 shares of the company’s stock worth $541,000 after purchasing an additional 12 shares in the last quarter. Finally, Willingdon Wealth Management grew its holdings in shares of Pepsico by 0.3% during the 1st quarter. Willingdon Wealth Management now owns 6,381 shares of the company’s stock worth $714,000 after purchasing an additional 16 shares in the last quarter. 70.17% of the stock is currently owned by hedge funds and other institutional investors.
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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