Pepsico, Inc. (PEP) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Pepsico, Inc. (NYSE:PEP) from a sell rating to a hold rating in a research note issued to investors on Friday.

According to Zacks, “PepsiCo shares have outperformed the broader industry in the last one year. The company has been doing well on the back of significant innovation, continued momentum in Frito-Lay business, revenue management strategies, improved productivity and better market execution. Again, it has been seeing higher volumes and profits in the North American segments due to an improving economy, better industry pricing dynamics and a consistency in positive innovation. Pepsi’ new product lineup, aggressive marketing efforts, productivity improvement and cost-saving initiatives should drive profits. That said, growing health awareness has been hurting the CSD category, resulting in a 3% volume decline in the first three quarters of 2016. Again, rising volatility in global markets and increasing currency headwind may dampen growth, going forward.”

A number of other equities analysts have also recently issued reports on the company. Societe Generale upgraded Pepsico from a hold rating to a buy rating in a report on Monday, December 12th. Deutsche Bank AG reiterated a buy rating and issued a $120.00 price objective on shares of Pepsico in a report on Monday, October 3rd. Bank of America Corporation reiterated a buy rating and issued a $120.00 price objective on shares of Pepsico in a report on Friday, September 30th. Credit Suisse Group reiterated a buy rating and issued a $122.00 price objective on shares of Pepsico in a report on Friday, September 30th. Finally, Jefferies Group reiterated a buy rating and issued a $122.00 price objective (down from $124.00) on shares of Pepsico in a report on Friday, September 30th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $113.56.

Analyst Recommendations for Pepsico (NYSE:PEP)

Pepsico (NYSE:PEP) traded down 1.05% during midday trading on Friday, reaching $103.46. The company had a trading volume of 5,599,292 shares. The stock has a market capitalization of $148.38 billion, a price-to-earnings ratio of 22.70 and a beta of 0.51. Pepsico has a one year low of $93.25 and a one year high of $110.94. The company has a 50-day moving average price of $103.50 and a 200-day moving average price of $106.04.

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The business also recently declared a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Friday, December 2nd were paid a $0.7525 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $3.01 annualized dividend and a dividend yield of 2.91%. Pepsico’s payout ratio is currently 66.01%.

Several hedge funds have recently bought and sold shares of PEP. D. Scott Neal Inc. increased its stake in Pepsico by 8.1% in the second quarter. D. Scott Neal Inc. now owns 944 shares of the company’s stock valued at $100,000 after buying an additional 71 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in Pepsico during the third quarter valued at $101,000. Piershale Financial Group Inc. increased its stake in Pepsico by 0.4% in the second quarter. Piershale Financial Group Inc. now owns 1,005 shares of the company’s stock valued at $106,000 after buying an additional 4 shares during the last quarter. Delphi Private Advisors LLC increased its stake in Pepsico by 1.3% in the second quarter. Delphi Private Advisors LLC now owns 1,002 shares of the company’s stock valued at $106,000 after buying an additional 13 shares during the last quarter. Finally, Global X Management Co. LLC increased its stake in Pepsico by 92.1% in the second quarter. Global X Management Co. LLC now owns 1,101 shares of the company’s stock valued at $117,000 after buying an additional 528 shares during the last quarter. Institutional investors own 69.04% of the company’s stock.

Pepsico Company Profile

PepsiCo, Inc is a food and beverage company. The Company, through its operations, bottlers, contract manufacturers and other third parties, is engaged in making, marketing, distributing and selling a range of beverages, foods and snacks, serving in over 200 countries and territories. The Company operates through six segments, namely, Frito-Lay North America (FLNA); Quaker Foods North America (QFNA); North America Beverages (NAB); Latin America, which includes its beverage, food and snack businesses in Latin America; Europe Sub-Saharan Africa (ESSA), which includes its beverage, food and snack businesses in Europe and Sub-Saharan Africa, and Asia, Middle East and North Africa (AMENA), which includes its beverage, food and snack businesses in Asia, Middle East and North Africa.

5 Day Chart for NYSE:PEP

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