Bank of America Raises PepsiCo (NASDAQ:PEP) Price Target to $142.00

PepsiCo (NASDAQ:PEP) had its price objective boosted by Bank of America from $135.00 to $142.00 in a research note issued to investors on Wednesday, Briefing.com Automated Import reports. Bank of America currently has a buy rating on the stock.

A number of other research firms also recently weighed in on PEP. BMO Capital Markets downgraded shares of GLENCORE PLC/ADR from an outperform rating to a market perform rating in a research report on Wednesday. Deutsche Bank raised their target price 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. Cowen lifted their price objective on shares of PepsiCo from $142.00 to $150.00 and gave the company an outperform rating in a research report on Wednesday. SunTrust Banks lifted their price objective on shares of PepsiCo to $120.00 and gave the company a hold rating in a research report on Thursday, April 18th. Finally, Morgan Stanley reissued an overweight rating and issued a $137.00 price objective (up previously from $130.00) on shares of PepsiCo in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. PepsiCo has an average rating of Hold and a consensus price target of $128.53.

PepsiCo stock opened at $133.28 on Wednesday. The company has a market capitalization of $187.84 billion, a P/E ratio of 24.03, a P/E/G ratio of 3.49 and a beta of 0.60. PepsiCo has a 1-year low of $104.53 and a 1-year high of $135.24. The company has a fifty day simple moving average of $131.86. The company has a current ratio of 0.86, a quick ratio of 0.75 and a debt-to-equity ratio of 1.97.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, July 9th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.05. The business had revenue of $16.45 billion during the quarter, compared to the consensus estimate of $16.44 billion. PepsiCo had a net margin of 19.59% and a return on equity of 59.50%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.61 earnings per share. As a group, analysts predict that PepsiCo will post 5.51 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a $0.955 dividend. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.87%. PepsiCo’s dividend payout ratio (DPR) is presently 67.49%.

In other news, Chairman Ramon Laguarta sold 15,431 shares of the firm’s stock in a transaction dated 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 sale, the chairman now owns 232,394 shares in the company, valued at approximately $30,078,755.42. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Steven C. Williams sold 2,420 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $133.95, for a total transaction of $324,159.00. Following the sale, the chief executive officer now owns 54,920 shares of the company’s stock, valued at approximately $7,356,534. The disclosure for this sale can be found here. In the last three months, insiders sold 50,914 shares of company stock valued at $6,497,864. Insiders own 0.28% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Founders Capital Management LLC raised its position in PepsiCo by 4.3% in the fourth quarter. Founders Capital Management LLC now owns 100,793 shares of the company’s stock valued at $11,136,000 after purchasing an additional 4,126 shares during the period. Lourd Capital LLC grew its stake in shares of PepsiCo by 6.1% in the fourth quarter. Lourd Capital LLC now owns 5,933 shares of the company’s stock valued at $655,000 after buying an additional 340 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV grew its stake in shares of PepsiCo by 21.6% in the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 73,826 shares of the company’s stock valued at $8,156,000 after buying an additional 13,136 shares in the last quarter. Oakbrook Investments LLC grew its stake in shares of PepsiCo by 17.3% in the fourth quarter. Oakbrook Investments LLC now owns 321,411 shares of the company’s stock valued at $35,509,000 after buying an additional 47,435 shares in the last quarter. Finally, Triangle Securities Wealth Management grew its stake in shares of PepsiCo by 4.4% in the fourth quarter. Triangle Securities Wealth Management now owns 24,858 shares of the company’s stock valued at $2,746,000 after buying an additional 1,053 shares in the last quarter. Institutional investors 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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Analyst Recommendations for PepsiCo (NASDAQ:PEP)

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