Pepsico, Inc. (NYSE:PEP) Receives “Buy” Rating from Jefferies Group LLC

Jefferies Group LLC reissued their buy rating on shares of Pepsico, Inc. (NYSE:PEP) in a research note issued to investors on Wednesday, July 12th. The brokerage currently has a $133.00 price target on the stock, up from their previous price target of $130.00. Jefferies Group also issued estimates for Pepsico’s Q3 2017 earnings at $1.44 EPS, Q4 2017 earnings at $1.33 EPS, FY2017 earnings at $5.20 EPS, FY2018 earnings at $5.67 EPS and FY2019 earnings at $6.17 EPS.

Other equities analysts have also recently issued research reports about the company. Vetr raised Pepsico from a hold rating to a buy rating and set a $125.54 price objective for the company in a report on Wednesday, April 26th. Susquehanna Bancshares Inc reissued a positive rating and issued a $133.00 price objective (down previously from $134.00) on shares of Pepsico in a report on Thursday, July 6th. J P Morgan Chase & Co initiated coverage on Pepsico in a report on Tuesday, March 21st. They issued an overweight rating and a $125.00 price objective for the company. BMO Capital Markets cut Pepsico from an outperform rating to a market perform rating and boosted their price objective 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. Finally, Credit Suisse Group reissued a buy rating on shares of Pepsico in a report on Thursday, April 27th. Six 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. The stock presently has an average rating of Buy and a consensus target price of $123.04.

Pepsico (NYSE:PEP) traded down 0.21% on Wednesday, hitting $116.71. The stock had a trading volume of 2,412,582 shares. The company has a 50 day moving average price of $115.94 and a 200-day moving average price of $112.32. The company has a market cap of $166.37 billion, a price-to-earnings ratio of 24.72 and a beta of 0.67. Pepsico has a 52-week low of $98.50 and a 52-week high of $118.24.

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

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

In other Pepsico news, Chairman Indra K. Nooyi sold 452,830 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chairman now directly owns 733,315 shares in the company, valued at approximately $85,387,198.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Mehmood Khan sold 63,396 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $116.39, for a total value of $7,378,660.44. Following the sale, the executive vice president now owns 174,273 shares of the company’s stock, valued at $20,283,634.47. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 856,675 shares of company stock valued at $99,741,258. 0.26% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of PEP. Amtrust Financial Services Inc. bought a new stake in Pepsico during the fourth quarter worth about $2,228,000. Stellar Capital Management LLC bought a new stake in Pepsico during the fourth quarter worth about $481,000. Leith Wheeler Investment Counsel Ltd. bought a new stake in Pepsico during the first quarter worth about $157,000. Glenview Trust Co bought a new stake in Pepsico during the fourth quarter worth about $7,726,000. Finally, Cigna Investments Inc. New bought a new stake in Pepsico during the fourth quarter worth about $7,843,000. Institutional investors and hedge funds own 70.52% of the company’s stock.

About Pepsico

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).

Analyst Recommendations for Pepsico (NYSE:PEP)

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