PepsiCo, Inc. (NASDAQ:PEP) – Equities researchers at Jefferies Financial Group dropped their Q4 2019 EPS estimates for PepsiCo in a note issued to investors on Tuesday, July 9th. Jefferies Financial Group analyst K. Grundy now expects that the company will post earnings per share of $1.45 for the quarter, down from their previous forecast of $1.48. Jefferies Financial Group has a “Hold” rating and a $134.00 price objective on the stock.
PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, July 9th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 59.50% and a net margin of 19.59%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.61 earnings per share.
PEP has been the topic of several other research reports. Royal Bank of Canada set a GBX 5,200 ($67.95) target price on London Stock Exchange Group and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Cowen increased their target price on PepsiCo from $142.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday. Morgan Stanley increased their target price on Williams-Sonoma from $52.00 to $56.00 and gave the stock an “underweight” rating in a research report on Wednesday. SunTrust Banks restated a “hold” rating and set a $125.00 target price on shares of PepsiCo in a research report on Wednesday. Finally, Goldman Sachs Group set a $131.00 target price on Microsoft and gave the stock a “buy” rating in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $128.53.
NASDAQ:PEP opened at $133.28 on Friday. The stock has a market capitalization of $187.84 billion, a P/E ratio of 23.55, a P/E/G ratio of 3.49 and a beta of 0.60. The stock’s fifty day moving average is $131.86. PepsiCo has a 1 year low of $104.53 and a 1 year 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.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in shares of PepsiCo by 2.4% during the fourth 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 during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of PepsiCo by 10,622.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,704,199 shares of the company’s stock valued at $314,000 after buying an additional 34,380,553 shares during the last quarter. Northern Trust Corp grew its stake in shares of PepsiCo by 3.2% during the fourth quarter. Northern Trust Corp now owns 20,185,841 shares of the company’s stock valued at $2,230,132,000 after buying an additional 623,727 shares during the last quarter. FMR LLC grew its stake in shares of PepsiCo by 0.8% during the first quarter. FMR LLC now owns 10,952,213 shares of the company’s stock valued at $1,342,194,000 after buying an additional 84,974 shares during the last quarter. Finally, Yacktman Asset Management LP grew its stake in shares of PepsiCo by 0.9% during the fourth quarter. Yacktman Asset Management LP now owns 7,691,249 shares of the company’s stock valued at $849,729,000 after buying an additional 68,176 shares during the last quarter. 70.83% of the stock is currently owned by institutional investors and hedge funds.
In related news, Chairman Ramon Laguarta sold 15,431 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $129.43, for a total value of $1,997,234.33. Following the transaction, the chairman now owns 232,394 shares of the company’s stock, valued at $30,078,755.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Steven C. Williams sold 2,420 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $133.95, for a total value of $324,159.00. Following the completion of the transaction, the chief executive officer now directly owns 54,920 shares in the company, valued at approximately $7,356,534. The disclosure for this sale can be found here. Insiders sold 50,914 shares of company stock worth $6,497,864 in the last quarter. 0.28% of the stock is currently owned by company insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a $0.955 dividend. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.87%. PepsiCo’s dividend payout ratio (DPR) is presently 67.49%.
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: What is meant by a buy rating?
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