Morgan Stanley reiterated their overweight rating on shares of PepsiCo (NASDAQ:PEP) in a research report released on Thursday morning, AnalystRatings.com reports. They currently have a $137.00 price objective on the stock, up from their prior price objective of $130.00.
Several other equities research analysts have also recently commented on PEP. BidaskClub cut shares of PepsiCo from a buy rating to a hold rating in a research report on Tuesday, April 9th. Zacks Investment Research cut shares of PepsiCo from a hold rating to a sell rating in a research report on Wednesday, January 23rd. Royal Bank of Canada reiterated a neutral rating and issued a $115.00 price target on shares of PepsiCo in a research report on Thursday. Bank of America reiterated a buy rating and issued a $135.00 price target (up from $130.00) on shares of PepsiCo in a research report on Thursday. Finally, Deutsche Bank boosted their price target on shares of PepsiCo from $120.00 to $131.00 and gave the stock a hold rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $123.00.
Shares of PepsiCo stock opened at $127.09 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.99. PepsiCo has a 52 week low of $95.94 and a 52 week high of $128.26. The stock has a market capitalization of $178.16 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 3.12 and a beta of 0.65.
PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Wednesday, April 17th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.92 by $0.05. PepsiCo had a net margin of 19.37% and a return on equity of 65.12%. The firm had revenue of $12.88 billion for the quarter, compared to analysts’ expectations of $12.68 billion. During the same period in the previous year, the business earned $0.96 earnings per share. PepsiCo’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, analysts predict that PepsiCo will post 5.51 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were issued a dividend of $0.9275 per share. The ex-dividend date was Thursday, February 28th. This represents a $3.71 annualized dividend and a yield of 2.92%. PepsiCo’s payout ratio is presently 65.55%.
In other PepsiCo news, CEO Vivek Sankaran sold 13,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $117.28, for a total transaction of $1,524,640.00. Following the sale, the chief executive officer now owns 90,379 shares in the company, valued at approximately $10,599,649.12. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.28% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of PEP. Oregon Public Employees Retirement Fund grew its stake in PepsiCo by 10,622.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 34,704,199 shares of the company’s stock valued at $314,000 after acquiring an additional 34,380,553 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of PepsiCo by 3,272,537.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,930,365 shares of the company’s stock valued at $2,228,213,000 after buying an additional 19,929,756 shares in the last quarter. Norges Bank bought a new stake in shares of PepsiCo in the 4th quarter valued at approximately $1,565,004,000. Matthew Goff Investment Advisor LLC grew its stake in shares of PepsiCo by 10,787.1% in the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 4,492,767 shares of the company’s stock valued at $41,267,000 after buying an additional 4,451,500 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of PepsiCo by 2.4% in the 4th quarter. BlackRock Inc. now owns 97,102,071 shares of the company’s stock valued at $10,727,836,000 after buying an additional 2,275,511 shares in the last quarter. Hedge funds and other institutional investors own 72.30% 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.
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