Pepsico’s (PEP) Outperform Rating Reaffirmed at Cowen and Company

Cowen and Company reissued their outperform rating on shares of Pepsico, Inc. (NYSE:PEP) in a research report sent to investors on Thursday, July 13th. The brokerage currently has a $128.00 target price on the stock.

Other equities analysts also recently issued research reports about the stock. UBS AG raised shares of Pepsico from a neutral rating to a positive rating in a research note on Wednesday, April 12th. Jefferies Group LLC increased their price objective on shares of Pepsico from $120.00 to $127.00 and gave the stock a buy rating in a research report on Wednesday, April 19th. BMO Capital Markets lowered shares of Pepsico from an outperform rating to a market perform rating and raised their price target for the company from $118.00 to $120.00 in a report on Wednesday, June 7th. They noted that the move was a valuation call. Royal Bank Of Canada reaffirmed a hold rating and set a $115.00 price target on shares of Pepsico in a report on Thursday, May 25th. Finally, Susquehanna Bancshares Inc reaffirmed a positive rating and set a $133.00 price target (down from $134.00) on shares of Pepsico in a report on Thursday, July 6th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $123.40.

Pepsico (NYSE:PEP) traded up 0.11% during trading on Thursday, hitting $116.51. The company had a trading volume of 2,759,739 shares. Pepsico has a 52-week low of $98.50 and a 52-week high of $118.24. The stock has a market capitalization of $166.09 billion, a price-to-earnings ratio of 24.67 and a beta of 0.67. The firm’s 50 day moving average is $115.87 and its 200-day moving average is $112.81.

Pepsico (NYSE:PEP) last released its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.40 by $0.10. The business had revenue of $15.71 billion for the quarter, compared to analyst estimates of $15.57 billion. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.35 earnings per share. On average, equities analysts forecast that Pepsico will post $5.16 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a dividend of $0.805 per share. This represents a $3.22 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Wednesday, August 30th. Pepsico’s dividend payout ratio is currently 68.22%.

In other news, SVP Marie T. Gallagher sold 41,489 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $116.77, for a total value of $4,844,670.53. Following the completion of the sale, the senior vice president now directly owns 76,037 shares in the company, valued at $8,878,840.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Indra K. Nooyi sold 452,830 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $116.44, for a total transaction of $52,727,525.20. Following the transaction, the chairman now directly owns 733,315 shares in the company, valued at approximately $85,387,198.60. The disclosure for this sale can be found here. Insiders sold 898,164 shares of company stock valued at $104,585,929 over the last quarter. Corporate insiders own 0.26% of the company’s stock.

A number of institutional investors have recently made changes to their positions in PEP. Private Advisor Group LLC raised its stake in shares of Pepsico by 9.6% in the fourth quarter. Private Advisor Group LLC now owns 109,921 shares of the company’s stock valued at $11,191,000 after buying an additional 9,609 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Pepsico by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,519,928 shares of the company’s stock valued at $368,300,000 after buying an additional 123,376 shares during the period. Tredje AP fonden raised its stake in shares of Pepsico by 5.7% in the fourth quarter. Tredje AP fonden now owns 136,300 shares of the company’s stock valued at $14,363,000 after buying an additional 7,296 shares during the period. Burgundy Asset Management Ltd. raised its stake in shares of Pepsico by 2.0% in the fourth quarter. Burgundy Asset Management Ltd. now owns 2,293,426 shares of the company’s stock valued at $239,961,000 after buying an additional 45,503 shares during the period. Finally, S&T Bank PA raised its stake in shares of Pepsico by 1.9% in the fourth quarter. S&T Bank PA now owns 87,144 shares of the company’s stock valued at $9,118,000 after buying an additional 1,662 shares during the period. 70.52% of the stock is currently owned by institutional investors and hedge funds.

Pepsico Company Profile

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).

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