PepsiCo (NASDAQ:PEP) Price Target Raised to $150.00

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PepsiCo (NASDAQ:PEP) had its price objective boosted by Cowen from $142.00 to $150.00 in a research report report published on Wednesday morning, The Fly reports. Cowen currently has an outperform rating on the stock.

PEP has been the subject of several other reports. Goldman Sachs Group set a $131.00 price objective on Microsoft and gave the company a buy rating in a report on Wednesday, April 24th. BidaskClub upgraded Xilinx from a hold rating to a buy rating in a report on Saturday, June 29th. Bank of America upgraded Royal Bank of Scotland Group from an underperform rating to a neutral rating in a report on Thursday, April 18th. SunTrust Banks lifted their price objective on PepsiCo to $120.00 and gave the company a hold rating in a report on Thursday, April 18th. Finally, Argus restated a buy rating on shares of PepsiCo in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. PepsiCo currently has an average rating of Hold and an average target price of $128.53.

PEP stock opened at $133.28 on Wednesday. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.86 and a quick ratio of 0.75. The company has a 50-day moving average price of $131.86. The company has a market capitalization of $186.35 billion, a P/E ratio of 23.55, a P/E/G ratio of 3.46 and a beta of 0.60. PepsiCo has a 1-year low of $104.53 and a 1-year high of $135.24.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, July 9th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.05. The firm had revenue of $16.45 billion during the quarter, compared to the consensus estimate of $16.44 billion. PepsiCo had a return on equity of 59.50% and a net margin of 19.59%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.61 earnings per share. On average, analysts predict that PepsiCo will post 5.51 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders 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 yield of 2.87%. PepsiCo’s dividend payout ratio is presently 67.49%.

In other PepsiCo news, CEO Steven C. Williams sold 2,420 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $133.95, for a total value of $324,159.00. Following the completion of the transaction, the chief executive officer now directly owns 54,920 shares in the company, valued at $7,356,534. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Marie T. Gallagher sold 7,800 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $125.99, for a total transaction of $982,722.00. Following the completion of the transaction, the senior vice president now owns 55,665 shares of the company’s stock, valued at $7,013,233.35. The disclosure for this sale can be found here. Insiders sold 50,914 shares of company stock valued at $6,497,864 over the last quarter. 0.28% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in PEP. Oregon Public Employees Retirement Fund raised its holdings in PepsiCo by 10,622.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,704,199 shares of the company’s stock worth $314,000 after purchasing an additional 34,380,553 shares in the last quarter. BlackRock Inc. grew its stake in shares of PepsiCo by 2.4% during the fourth quarter. BlackRock Inc. now owns 97,102,071 shares of the company’s stock worth $10,727,836,000 after acquiring an additional 2,275,511 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of PepsiCo by 34.2% during the fourth quarter. California Public Employees Retirement System now owns 6,285,045 shares of the company’s stock worth $694,372,000 after acquiring an additional 1,600,360 shares during the last quarter. Manning & Napier Group LLC grew its stake in shares of PepsiCo by 469.6% during the fourth quarter. Manning & Napier Group LLC now owns 1,543,722 shares of the company’s stock worth $170,549,000 after acquiring an additional 1,272,684 shares during the last quarter. Finally, Swedbank purchased a new stake in shares of PepsiCo during the second quarter worth about $135,539,000. Institutional investors and hedge funds own 70.83% of the company’s stock.

About PepsiCo

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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