Pepsico, Inc. (PEP) Rating Reiterated by Susquehanna Bancshares Inc
Pepsico, Inc. (NYSE:PEP)‘s stock had its “buy” rating reaffirmed by equities research analysts at Susquehanna Bancshares Inc in a note issued to investors on Monday. They currently have a $135.00 target price on the stock. Susquehanna Bancshares Inc’s target price would suggest a potential upside of 23.71% from the company’s current price.
A number of other analysts have also weighed in on PEP. BMO Capital Markets lowered Pepsico from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $118.00 to $120.00 in a research report on Wednesday, June 7th. They noted that the move was a valuation call. Zacks Investment Research lowered Pepsico from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Cowen and Company reiterated an “outperform” rating and issued a $128.00 target price on shares of Pepsico in a report on Thursday, July 13th. Jefferies Group LLC reissued a “buy” rating and set a $133.00 target price (up from $130.00) on shares of Pepsico in a research note on Wednesday, July 12th. 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 Friday, June 30th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Pepsico presently has a consensus rating of “Buy” and an average price target of $121.87.
Pepsico (NYSE PEP) opened at 109.13 on Monday. The company has a market capitalization of $155.57 billion, a P/E ratio of 23.11 and a beta of 0.68. Pepsico has a 1-year low of $98.50 and a 1-year high of $119.39. The stock’s 50 day moving average is $114.86 and its 200-day moving average is $114.80. Pepsico also saw unusually large options trading activity on Monday. Stock traders purchased 5,616 put options on the company. This represents an increase of 248% compared to the average volume of 1,616 put options.
Pepsico (NYSE:PEP) last released its earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.10. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The company had revenue of $15.71 billion for the quarter, compared to analyst estimates of $15.57 billion. During the same period in the prior year, the business earned $1.35 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts expect that Pepsico will post $5.16 earnings per share for the current fiscal year.
In related news, CEO Indra K. Nooyi sold 340,449 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 733,315 shares of the company’s stock, valued at approximately $85,372,532.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Mehmood Khan sold 63,396 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $116.39, for a total value of $7,378,660.44. Following the completion of the sale, the executive vice president now directly owns 174,273 shares of the company’s stock, valued at $20,283,634.47. The disclosure for this sale can be found here. In the last 90 days, insiders sold 898,164 shares of company stock valued at $104,585,929. Company insiders own 0.26% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Pepsico by 2.4% in the second quarter. Vanguard Group Inc. now owns 112,083,751 shares of the company’s stock valued at $12,944,553,000 after buying an additional 2,635,738 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Pepsico by 910.5% in the second quarter. Janus Henderson Group PLC now owns 2,907,923 shares of the company’s stock valued at $335,840,000 after acquiring an additional 2,620,149 shares during the period. Sanders Capital LLC acquired a new stake in shares of Pepsico in the first quarter valued at approximately $254,277,000. Harbour Capital Advisors LLC boosted its holdings in shares of Pepsico by 11,316.2% in the second quarter. Harbour Capital Advisors LLC now owns 2,183,685 shares of the company’s stock valued at $18,908,000 after acquiring an additional 2,164,557 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Pepsico by 92.5% in the first quarter. Canada Pension Plan Investment Board now owns 3,317,230 shares of the company’s stock valued at $371,065,000 after acquiring an additional 1,593,550 shares during the period. Hedge funds and other institutional investors own 70.06% of the company’s stock.
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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