PepsiCo, Inc. (PEP) Receives “Buy” Rating from Jefferies Group LLC

Jefferies Group LLC reaffirmed their buy rating on shares of PepsiCo, Inc. (NYSE:PEP) in a report released on Wednesday. They currently have a $127.00 price target on the stock, up from their previous price target of $120.00.

Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of PepsiCo from a hold rating to a sell rating in a research note on Tuesday. Susquehanna Bancshares Inc upgraded shares of PepsiCo from a neutral rating to a positive rating and increased their target price for the company from $118.00 to $132.00 in a research note on Wednesday, April 12th. Royal Bank of Canada reiterated a hold rating and issued a $115.00 target price on shares of PepsiCo in a research note on Thursday, March 23rd. Credit Suisse Group AG increased their target price on shares of PepsiCo from $115.00 to $121.00 and gave the company a buy rating in a research note on Thursday, March 23rd. Finally, BMO Capital Markets reiterated a buy rating and issued a $115.00 target price on shares of PepsiCo in a research note on Wednesday, March 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $117.12.

Shares of PepsiCo (NYSE:PEP) traded up 0.12% on Wednesday, hitting $113.76. The company’s stock had a trading volume of 1,546,320 shares. The stock’s 50 day moving average price is $111.42 and its 200 day moving average price is $106.56. The stock has a market capitalization of $162.36 billion, a P/E ratio of 26.10 and a beta of 0.53. PepsiCo has a 52 week low of $98.50 and a 52 week high of $114.61.

PepsiCo (NYSE:PEP) last released its earnings results on Wednesday, February 15th. The company reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.04. PepsiCo had a net margin of 10.74% and a return on equity of 56.16%. The business earned $19.52 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter last year, the company earned $1.06 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis. On average, analysts forecast that PepsiCo will post $5.12 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, March 3rd were given a $0.7525 dividend. This represents a $3.01 annualized dividend and a yield of 2.65%. The ex-dividend date was Wednesday, March 1st. PepsiCo’s dividend payout ratio (DPR) is presently 66.01%.

In related news, EVP Cynthia Trudell sold 9,000 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $109.57, for a total value of $986,130.00. Following the completion of the transaction, the executive vice president now owns 38,739 shares of the company’s stock, valued at $4,244,632.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ramon Laguarta sold 23,585 shares of the stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $109.05, for a total transaction of $2,571,944.25. Following the completion of the transaction, the chief executive officer now directly owns 135,859 shares of the company’s stock, valued at approximately $14,815,423.95. The disclosure for this sale can be found here. Insiders sold 44,343 shares of company stock valued at $4,850,480 in the last three months. Company insiders own 0.33% of the company’s stock.

Several hedge funds have recently bought and sold shares of PEP. Amtrust Financial Services Inc. purchased a new stake in PepsiCo during the fourth quarter valued at $2,228,000. Stonebridge Capital Management Inc. raised its stake in PepsiCo by 0.3% in the third quarter. Stonebridge Capital Management Inc. now owns 77,741 shares of the company’s stock valued at $8,456,000 after buying an additional 201 shares during the last quarter. First Eagle Investment Management LLC raised its stake in PepsiCo by 106.7% in the third quarter. First Eagle Investment Management LLC now owns 2,469,429 shares of the company’s stock valued at $268,600,000 after buying an additional 1,274,477 shares during the last quarter. NN Investment Partners Holdings N.V. raised its stake in PepsiCo by 0.6% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 343,748 shares of the company’s stock valued at $35,966,000 after buying an additional 2,129 shares during the last quarter. Finally, Gluskin Sheff & Assoc Inc. raised its stake in PepsiCo by 68.8% in the third quarter. Gluskin Sheff & Assoc Inc. now owns 346,504 shares of the company’s stock valued at $36,865,000 after buying an additional 141,254 shares during the last quarter. 70.43% of the stock is owned by institutional investors.

About PepsiCo

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).

5 Day Chart for NYSE:PEP

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