Equities Analysts Set Expectations for Pepsico, Inc.’s Q3 2017 Earnings (PEP)
Pepsico, Inc. (NYSE:PEP) – Research analysts at Jefferies Group cut their Q3 2017 EPS estimates for Pepsico in a note issued to investors on Monday. Jefferies Group analyst K. Grundy now anticipates that the company will earn $1.43 per share for the quarter, down from their prior forecast of $1.44. Jefferies Group has a “Hold” rating and a $108.00 price target on the stock.
A number of other research firms have also recently commented on PEP. BidaskClub cut Pepsico from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research report on Tuesday, August 22nd. Susquehanna Bancshares Inc reiterated a “buy” rating and set a $135.00 target price on shares of Pepsico in a research report on Monday. Royal Bank Of Canada reissued a “hold” rating and issued a $115.00 price target on shares of Pepsico in a research note on Wednesday, September 6th. Finally, Credit Suisse Group cut shares of Pepsico from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $126.00 to $124.00 in a research note on Friday, September 8th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Pepsico has an average rating of “Buy” and a consensus target price of $122.38.
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Shares of Pepsico (NYSE PEP) opened at 109.12 on Tuesday. The stock’s 50 day moving average is $115.11 and its 200 day moving average is $114.82. The company has a market cap of $155.55 billion, a PE ratio of 23.11 and a beta of 0.68. Pepsico has a 52-week low of $98.50 and a 52-week high of $119.39.
Pepsico (NYSE:PEP) last posted its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.10. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The business had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $15.57 billion. During the same period in the prior year, the company posted $1.35 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year.
A number of institutional investors have recently made changes to their positions in PEP. Bridges Investment Management Inc. boosted its stake in Pepsico by 0.6% during the third quarter. Bridges Investment Management Inc. now owns 95,404 shares of the company’s stock worth $10,631,000 after buying an additional 584 shares during the last quarter. Perpetual Ltd grew its holdings in Pepsico by 6.7% in the 2nd quarter. Perpetual Ltd now owns 14,265 shares of the company’s stock valued at $1,647,000 after buying an additional 900 shares in the last quarter. MPS Loria Financial Planners LLC purchased a new stake in Pepsico in the 2nd quarter valued at $240,000. Frontier Investment Mgmt Co. grew its holdings in Pepsico by 6.6% in the 2nd quarter. Frontier Investment Mgmt Co. now owns 10,574 shares of the company’s stock valued at $1,221,000 after buying an additional 658 shares in the last quarter. Finally, Burgundy Asset Management Ltd. grew its holdings in Pepsico by 1.9% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,247,364 shares of the company’s stock valued at $259,548,000 after buying an additional 40,950 shares in the last quarter. Hedge funds and other institutional investors own 70.06% of the company’s stock.
In other news, EVP Mehmood Khan sold 63,396 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $116.39, for a total value of $7,378,660.44. Following the completion of the sale, the executive vice president now directly owns 174,273 shares in the company, valued at $20,283,634.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Marie T. Gallagher sold 41,489 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $116.77, for a total value of $4,844,670.53. Following the completion of the sale, the senior vice president now directly owns 76,037 shares of the company’s stock, valued at approximately $8,878,840.49. The disclosure for this sale can be found here. Insiders sold a total of 898,164 shares of company stock worth $104,585,929 over the last three months. Corporate insiders own 0.26% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 1st were paid a $0.805 dividend. This represents a $3.22 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Wednesday, August 30th. Pepsico’s dividend payout ratio (DPR) is 68.22%.
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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