BidaskClub Downgrades Pepsico, Inc. (PEP) to Hold
Pepsico, Inc. (NYSE:PEP) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
Other equities analysts have also issued research reports about the company. BMO Capital Markets reissued a “buy” rating and set a $115.00 price objective on shares of Pepsico in a research report on Thursday, April 27th. Credit Suisse Group reissued a “buy” rating on shares of Pepsico in a research report on Thursday, April 27th. Barclays PLC reissued a “hold” rating and set a $113.00 price objective on shares of Pepsico in a research report on Friday, April 28th. Cowen and Company raised their price objective on Pepsico from $120.00 to $128.00 and gave the company an “outperform” rating in a research report on Monday, May 1st. Finally, Susquehanna Bancshares Inc reissued a “positive” rating and set a $134.00 price objective (up previously from $132.00) on shares of Pepsico in a research report on Monday, May 1st. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Pepsico currently has a consensus rating of “Buy” and a consensus target price of $123.61.
Shares of Pepsico (PEP) opened at 115.85 on Friday. Pepsico has a 52 week low of $98.50 and a 52 week high of $119.39. The firm has a market cap of $165.15 billion, a price-to-earnings ratio of 24.53 and a beta of 0.67. The firm’s 50 day moving average is $116.38 and its 200-day moving average is $113.78.
Pepsico (NYSE:PEP) last announced its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.10. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The business had revenue of $15.71 billion during the quarter, compared to analyst estimates of $15.57 billion. During the same quarter in the previous year, the business posted $1.35 EPS. Pepsico’s quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts predict that Pepsico will post $5.15 EPS for the current year.
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In related news, SVP Marie T. Gallagher sold 41,489 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $116.77, for a total value of $4,844,670.53. Following the transaction, the senior vice president now directly owns 76,037 shares of the company’s stock, valued at approximately $8,878,840.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $52,727,525.20. Following the completion of the transaction, the chairman now directly owns 733,315 shares in the company, valued at $85,387,198.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 898,164 shares of company stock worth $104,585,929. 0.26% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in shares of Pepsico by 14.6% in the first quarter. Russell Investments Group Ltd. now owns 3,881,793 shares of the company’s stock valued at $434,310,000 after buying an additional 495,542 shares during the period. Taylor Cottrill Erickson & Associates Inc. boosted its stake in Pepsico by 3.6% in the first quarter. Taylor Cottrill Erickson & Associates Inc. now owns 5,222 shares of the company’s stock worth $584,000 after buying an additional 183 shares during the period. QV Investors Inc. boosted its stake in Pepsico by 18.4% in the first quarter. QV Investors Inc. now owns 37,420 shares of the company’s stock worth $4,185,000 after buying an additional 5,810 shares during the period. Israel Discount Bank of New York GFN acquired a new stake in Pepsico during the fourth quarter worth approximately $150,000. Finally, Vident Investment Advisory LLC acquired a new stake in Pepsico during the fourth quarter worth approximately $379,000. 70.19% 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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