PepsiCo (NASDAQ:PEP) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
PEP has been the subject of a number of other research reports. SunTrust Banks dropped their target price on shares of PepsiCo to $105.00 and set a “hold” rating for the company in a report on Friday, April 27th. Jefferies Group reaffirmed a “hold” rating and set a $113.00 target price on shares of PepsiCo in a report on Tuesday, February 13th. ValuEngine lowered shares of PepsiCo from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Susquehanna Bancshares boosted their price target on shares of PepsiCo from $137.00 to $140.00 and gave the company a “positive” rating in a research report on Monday, February 12th. Finally, TheStreet cut shares of PepsiCo from a “b-” rating to a “c+” rating in a research report on Thursday, March 1st. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $120.36.
PepsiCo opened at $100.25 on Thursday, MarketBeat reports. PepsiCo has a 52-week low of $95.94 and a 52-week high of $122.51. The firm has a market cap of $141.69 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 2.31 and a beta of 0.67. The company has a quick ratio of 1.15, a current ratio of 1.28 and a debt-to-equity ratio of 2.91.
PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, April 26th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.03. PepsiCo had a net margin of 7.62% and a return on equity of 62.43%. The business had revenue of $12.56 billion during the quarter, compared to analyst estimates of $12.37 billion. During the same quarter in the prior year, the firm earned $0.94 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. equities research analysts anticipate that PepsiCo will post 5.69 EPS for the current fiscal year.
PepsiCo declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 13th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Hedge funds have recently made changes to their positions in the company. Prudential Financial Inc. lifted its position in PepsiCo by 26.1% in the third quarter. Prudential Financial Inc. now owns 4,354,014 shares of the company’s stock valued at $485,168,000 after buying an additional 899,911 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services acquired a new position in PepsiCo in the fourth quarter valued at about $201,000. Confluence Investment Management LLC lifted its position in PepsiCo by 2.0% in the fourth quarter. Confluence Investment Management LLC now owns 1,154,250 shares of the company’s stock valued at $138,418,000 after buying an additional 22,364 shares during the last quarter. Gillespie Robinson & Grimm Inc. lifted its position in PepsiCo by 2.8% in the fourth quarter. Gillespie Robinson & Grimm Inc. now owns 209,803 shares of the company’s stock valued at $25,160,000 after buying an additional 5,738 shares during the last quarter. Finally, Chesley Taft & Associates LLC lifted its position in PepsiCo by 0.3% in the fourth quarter. Chesley Taft & Associates LLC now owns 250,366 shares of the company’s stock valued at $30,024,000 after buying an additional 686 shares during the last quarter. 69.85% of the stock is currently owned by hedge funds and other institutional investors.
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's 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 brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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