PepsiCo (NASDAQ:PEP) Price Target Raised to $150.00

PepsiCo (NASDAQ:PEP) had its target price raised by Cowen from $142.00 to $150.00 in a report issued on Wednesday morning, The Fly reports. Cowen currently has an outperform rating on the stock.

Several other equities analysts have also recently weighed in on the stock. Macquarie increased their price objective on shares of PepsiCo from $126.00 to $138.00 and gave the stock an outperform rating in a research note on Thursday, April 18th. Zacks Investment Research cut shares of Guaranty Federal Bancshares from a hold rating to a sell rating in a research note on Tuesday, April 23rd. Royal Bank of Canada set a GBX 5,200 ($67.95) price objective on shares of London Stock Exchange Group and gave the stock a buy rating in a research note on Wednesday, April 24th. BidaskClub upgraded shares of Xilinx from a hold rating to a buy rating in a research note on Saturday, June 29th. Finally, SunTrust Banks increased their price objective on shares of PepsiCo to $120.00 and gave the stock a hold rating in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $128.53.

Shares of NASDAQ PEP opened at $133.28 on Wednesday. The company’s 50-day moving average is $131.86. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.75 and a current ratio of 0.86. The stock has a market cap of $186.35 billion, a P/E ratio of 23.55, a PEG ratio of 3.46 and a beta of 0.60. PepsiCo has a 52-week low of $104.53 and a 52-week high of $135.24.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, July 9th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.05. The firm had revenue of $16.45 billion for the quarter, compared to the consensus estimate of $16.44 billion. PepsiCo had a net margin of 19.59% and a return on equity of 59.50%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.61 EPS. As a group, equities research analysts forecast that PepsiCo will post 5.51 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.955 per share. This represents a $3.82 dividend on an annualized basis and a yield of 2.87%. PepsiCo’s payout ratio is 67.49%.

In other PepsiCo news, CEO Steven C. Williams sold 2,420 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $133.95, for a total transaction of $324,159.00. Following the sale, the chief executive officer now owns 54,920 shares in the company, valued at approximately $7,356,534. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Ramon Laguarta sold 15,431 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $129.43, for a total transaction of $1,997,234.33. Following the sale, the chairman now owns 232,394 shares in the company, valued at approximately $30,078,755.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,914 shares of company stock worth $6,497,864. 0.28% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. HC Financial Advisors Inc. raised its position in shares of PepsiCo by 4.2% during the third quarter. HC Financial Advisors Inc. now owns 8,967 shares of the company’s stock valued at $1,003,000 after buying an additional 363 shares during the last quarter. Laurel Wealth Advisors Inc. raised its position in shares of PepsiCo by 1.3% during the first quarter. Laurel Wealth Advisors Inc. now owns 23,826 shares of the company’s stock valued at $2,920,000 after buying an additional 296 shares during the last quarter. Lau Associates LLC raised its position in shares of PepsiCo by 7.6% during the fourth quarter. Lau Associates LLC now owns 57,455 shares of the company’s stock valued at $6,348,000 after buying an additional 4,035 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA raised its position in shares of PepsiCo by 0.8% during the first quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 26,334 shares of the company’s stock valued at $3,227,000 after buying an additional 207 shares during the last quarter. Finally, Meritage Portfolio Management raised its position in shares of PepsiCo by 4.3% during the fourth quarter. Meritage Portfolio Management now owns 5,149 shares of the company’s stock valued at $569,000 after buying an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 70.83% of the company’s stock.

PepsiCo Company Profile

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.

Further Reading: Relative Strength Index

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Analyst Recommendations for PepsiCo (NASDAQ:PEP)

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