Jefferies Financial Group Raises PepsiCo (NASDAQ:PEP) Price Target to $134.00
PepsiCo (NASDAQ:PEP) had its price objective upped by Jefferies Financial Group from $123.00 to $134.00 in a research report sent to investors on Wednesday, The Fly reports. The brokerage currently has a hold rating on the stock. Jefferies Financial Group also issued estimates for PepsiCo’s Q3 2019 earnings at $1.54 EPS and Q4 2019 earnings at $1.45 EPS.
A number of other research firms have also recently issued reports on PEP. BidaskClub raised Xilinx from a hold rating to a buy rating in a research note on Saturday, June 29th. Wells Fargo & Co started coverage on Semtech in a research report on Tuesday, May 14th. They set an outperform rating and a $48.03 price target for the company. Goldman Sachs Group set a $131.00 price target on Microsoft and gave the stock a buy rating in a research report on Wednesday, April 24th. Morgan Stanley reaffirmed an overweight rating and set a $137.00 price target (up previously from $130.00) on shares of PepsiCo in a research report on Thursday, April 18th. Finally, Zacks Investment Research downgraded Guaranty Federal Bancshares from a hold rating to a sell rating in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. PepsiCo presently has an average rating of Hold and an average price target of $128.53.
NASDAQ PEP opened at $133.28 on Wednesday. The business’s 50 day simple moving average is $131.86. PepsiCo has a 52-week low of $104.53 and a 52-week high of $135.24. The company has a current ratio of 0.86, a quick ratio of 0.75 and a debt-to-equity ratio of 1.97. The company has a market cap of $187.84 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 3.49 and a beta of 0.60.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a $0.955 dividend. This represents a $3.82 annualized dividend and a dividend yield of 2.87%. PepsiCo’s payout ratio is presently 67.49%.
In other news, SVP Marie T. Gallagher sold 7,800 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $125.99, for a total value of $982,722.00. Following the completion of the sale, the senior vice president now owns 55,665 shares of the company’s stock, valued at approximately $7,013,233.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David Yawman sold 25,263 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $126.42, for a total value of $3,193,748.46. Following the completion of the sale, the executive vice president now directly owns 80,934 shares of the company’s stock, valued at approximately $10,231,676.28. The disclosure for this sale can be found here. In the last three months, insiders sold 50,914 shares of company stock valued at $6,497,864. 0.28% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PEP. Evolution Wealth Advisors LLC bought a new stake in PepsiCo in the 2nd quarter valued at $27,000. Horan Securities Inc. raised its stake in PepsiCo by 460.0% in the 4th quarter. Horan Securities Inc. now owns 280 shares of the company’s stock valued at $30,000 after acquiring an additional 230 shares during the period. 1 North Wealth Services LLC bought a new stake in PepsiCo in the 4th quarter valued at $39,000. Financial Gravity Companies Inc. bought a new stake in PepsiCo in the 4th quarter valued at $41,000. Finally, Thor Advisors LLC bought a new stake in PepsiCo in the 1st quarter valued at $70,000. 70.83% of the stock is owned by institutional investors.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its 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 Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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