Macquarie Boosts PepsiCo (PEP) Price Target to $138.00

PepsiCo (NASDAQ:PEP) had its price target lifted by Macquarie from $126.00 to $138.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The firm currently has an outperform rating on the stock.

Other analysts have also issued reports about the stock. Gabelli reiterated a buy rating on shares of PepsiCo in a research report on Tuesday, February 19th. BidaskClub lowered shares of PepsiCo from a strong-buy rating to a buy rating in a research report on Wednesday, January 9th. Argus reiterated a buy rating on shares of PepsiCo in a research report on Thursday. Bank of America increased their price target on shares of PepsiCo from $130.00 to $135.00 and gave the company a buy rating in a research report on Thursday. Finally, ValuEngine lowered shares of PepsiCo from a buy rating to a hold rating in a research report on Saturday, January 5th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $123.00.

Shares of PEP opened at $127.09 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.99. PepsiCo has a twelve month low of $95.94 and a twelve month high of $128.26. The stock has a market cap of $178.16 billion, a price-to-earnings ratio of 22.45, a P/E/G ratio of 3.12 and a beta of 0.65.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Wednesday, April 17th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.05. PepsiCo had a net margin of 19.37% and a return on equity of 65.12%. The company had revenue of $12.88 billion for the quarter, compared to analyst estimates of $12.68 billion. During the same period in the prior year, the business posted $0.96 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities analysts anticipate that PepsiCo will post 5.51 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were paid a dividend of $0.9275 per share. This represents a $3.71 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Thursday, February 28th. PepsiCo’s payout ratio is 65.55%.

In related news, CEO Vivek Sankaran sold 13,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $117.28, for a total transaction of $1,524,640.00. Following the transaction, the chief executive officer now owns 90,379 shares of the company’s stock, valued at $10,599,649.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.28% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in PepsiCo by 1.4% during the third quarter. Vanguard Group Inc. now owns 119,706,640 shares of the company’s stock worth $13,383,201,000 after purchasing an additional 1,595,038 shares during the period. Vanguard Group Inc raised its stake in PepsiCo by 1.4% during the third quarter. Vanguard Group Inc now owns 119,706,640 shares of the company’s stock worth $13,383,201,000 after purchasing an additional 1,595,038 shares during the period. BlackRock Inc. raised its stake in 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 purchasing an additional 2,275,511 shares during the period. Oregon Public Employees Retirement Fund raised its stake in PepsiCo by 10,622.9% during 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 during the period. Finally, Northern Trust Corp raised its stake in PepsiCo by 3.2% during the fourth quarter. Northern Trust Corp now owns 20,185,841 shares of the company’s stock worth $2,230,132,000 after purchasing an additional 623,727 shares during the period. 72.30% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for PepsiCo (NASDAQ:PEP)

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