PepsiCo (PEP) Given “Overweight” Rating at Morgan Stanley

PepsiCo (NASDAQ:PEP)‘s stock had its “overweight” rating restated by equities researchers at Morgan Stanley in a report released on Thursday, April 18th, AnalystRatings.com reports. They presently have a $137.00 target price on the stock, up from their previous target price of $130.00. Morgan Stanley’s target price suggests a potential upside of 7.02% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. BidaskClub cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th. Zacks Investment Research upgraded shares of PepsiCo from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. Goldman Sachs Group upgraded shares of PepsiCo from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $111.00 to $132.00 in a research note on Thursday, April 18th. Jefferies Financial Group lifted their price objective on shares of PepsiCo to $119.00 and gave the company a “hold” rating in a research note on Tuesday, February 19th. They noted that the move was a valuation call. Finally, Bank of America lifted their price objective on shares of PepsiCo from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $124.53.

NASDAQ PEP opened at $128.01 on Thursday. PepsiCo has a one year low of $96.36 and a one year high of $128.39. The stock has a market cap of $176.70 billion, a price-to-earnings ratio of 22.62, a price-to-earnings-growth ratio of 3.27 and a beta of 0.66. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 1.99.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Wednesday, April 17th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The business had revenue of $12.88 billion for the quarter, compared to analysts’ expectations of $12.68 billion. PepsiCo had a net margin of 19.37% and a return on equity of 65.12%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business earned $0.96 EPS. On average, equities research analysts expect that PepsiCo will post 5.51 EPS for the current year.

In other PepsiCo news, EVP David Yawman sold 25,263 shares of PepsiCo stock in a transaction on Friday, April 26th. The shares were sold at an average price of $126.42, for a total transaction of $3,193,748.46. Following the sale, the executive vice president now owns 80,934 shares of the company’s stock, valued at approximately $10,231,676.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vivek Sankaran sold 13,000 shares of PepsiCo stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $117.28, for a total transaction of $1,524,640.00. Following the sale, the chief executive officer now directly owns 90,379 shares in the company, valued at approximately $10,599,649.12. The disclosure for this sale can be found here. In the last three months, insiders sold 46,063 shares of company stock valued at $5,701,110. 0.28% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Lenox Wealth Management Inc. lifted its position in PepsiCo by 73.3% in the first quarter. Lenox Wealth Management Inc. now owns 201 shares of the company’s stock valued at $25,000 after buying an additional 85 shares during the last quarter. Highwater Wealth Management LLC acquired a new position in PepsiCo in the fourth quarter valued at about $28,000. Bogart Wealth LLC lifted its position in PepsiCo by 64.5% in the first quarter. Bogart Wealth LLC now owns 255 shares of the company’s stock valued at $31,000 after buying an additional 100 shares during the last quarter. Horan Securities Inc. lifted its position in PepsiCo by 460.0% in the fourth quarter. Horan Securities Inc. now owns 280 shares of the company’s stock valued at $30,000 after buying an additional 230 shares during the last quarter. Finally, Mackey Komara & Dankovich LLC acquired a new position in PepsiCo in the first quarter valued at about $35,000. 71.85% of the stock is currently 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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Analyst Recommendations for PepsiCo (NASDAQ:PEP)

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