PepsiCo (NASDAQ:PEP) Given New $134.00 Price Target at Jefferies Financial Group

PepsiCo (NASDAQ:PEP) had its price target upped by Jefferies Financial Group from $123.00 to $134.00 in a research report report published on Wednesday, The Fly reports. Jefferies Financial Group currently has a hold rating on the stock. Jefferies Financial Group also issued estimates for PepsiCo’s Q3 2019 earnings at $1.54 EPS.

Several other research firms have also recently issued reports on PEP. BMO Capital Markets cut shares of GLENCORE PLC/ADR from an outperform rating to a market perform rating in a research report on Wednesday. Deutsche Bank lifted their price objective on shares of Las Vegas Sands from $60.00 to $69.00 and gave the company a hold rating in a research report on Thursday, April 18th. They noted that the move was a valuation call. BidaskClub upgraded shares of Xilinx from a hold rating to a buy rating in a research report on Saturday, June 29th. Morgan Stanley reiterated an overweight rating and set a $137.00 price objective (up previously from $130.00) on shares of PepsiCo in a research report on Thursday, April 18th. Finally, Bank of America set a $25.00 price objective on shares of Levi Strauss & Co. and gave the company a hold rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. PepsiCo currently has an average rating of Hold and an average price target of $128.53.

NASDAQ PEP traded down $0.06 on Wednesday, reaching $134.35. 3,846,753 shares of the stock were exchanged, compared to its average volume of 4,837,682. PepsiCo has a one year low of $104.53 and a one year high of $135.24. The firm has a market cap of $188.42 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 3.45 and a beta of 0.60. The firm’s 50-day moving average price is $131.79. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.94 and a quick ratio of 0.75.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, July 9th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.05. PepsiCo had a net margin of 19.37% and a return on equity of 65.12%. The company had revenue of $16.45 billion for the quarter, compared to analysts’ expectations of $16.44 billion. During the same quarter last year, the business earned $1.61 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. As a group, research analysts predict that PepsiCo will post 5.51 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a $0.955 dividend. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.84%. PepsiCo’s dividend payout ratio (DPR) is presently 67.49%.

In related news, EVP David Yawman sold 25,263 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $126.42, for a total value of $3,193,748.46. Following the completion of the transaction, the executive vice president now directly owns 80,934 shares of the company’s stock, valued at $10,231,676.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Ramon Laguarta sold 15,431 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $129.43, for a total transaction of $1,997,234.33. Following the completion of the transaction, the chairman now directly owns 232,394 shares of the company’s stock, valued at $30,078,755.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,494 shares of company stock valued at $6,173,705. 0.28% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of PEP. Horan Securities Inc. boosted its stake in PepsiCo by 460.0% during the fourth quarter. Horan Securities Inc. now owns 280 shares of the company’s stock worth $30,000 after buying an additional 230 shares during the period. 1 North Wealth Services LLC purchased a new position in PepsiCo during the fourth quarter worth $39,000. Financial Gravity Companies Inc. purchased a new position in PepsiCo during the fourth quarter worth $41,000. Thor Advisors LLC purchased a new position in PepsiCo during the first quarter worth $70,000. Finally, Essex Investment Management Co. LLC purchased a new stake in shares of PepsiCo during the fourth quarter valued at $71,000. 70.83% of the stock is owned by hedge funds and other institutional investors.

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.

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