Macquarie Boosts PepsiCo (PEP) Price Target to $138.00
PepsiCo (NASDAQ:PEP) had its target price hoisted by Macquarie from $126.00 to $138.00 in a research report report published on Thursday, BenzingaRatingsTable reports. Macquarie currently has an outperform rating on the stock.
Several other equities analysts also recently commented on the stock. Royal Bank of Canada restated a neutral rating and issued a $115.00 price target on shares of PepsiCo in a research note on Thursday. Bank of America boosted their price target on shares of PepsiCo from $130.00 to $135.00 and gave the stock a buy rating in a research note on Thursday. Argus restated a buy rating on shares of PepsiCo in a research note on Thursday. Deutsche Bank boosted their price target on shares of PepsiCo from $120.00 to $131.00 and gave the stock a hold rating in a research note on Thursday. Finally, Goldman Sachs Group upgraded shares of PepsiCo from a sell rating to a neutral rating and boosted their price target for the stock from $111.00 to $132.00 in a research note on Thursday. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $123.00.
PepsiCo stock opened at $127.09 on Thursday. The company has a market capitalization of $178.16 billion, a P/E ratio of 22.45, a P/E/G ratio of 3.12 and a beta of 0.65. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.94 and a quick ratio of 0.85. PepsiCo has a fifty-two week low of $95.94 and a fifty-two week high of $128.26.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were given a dividend of $0.9275 per share. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $3.71 annualized dividend and a dividend yield of 2.92%. PepsiCo’s dividend payout ratio (DPR) is currently 65.55%.
In other news, CEO Vivek Sankaran sold 13,000 shares of PepsiCo stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 90,379 shares of the company’s stock, valued at approximately $10,599,649.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.28% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in PepsiCo by 1.4% in the third quarter. Vanguard Group Inc. now owns 119,706,640 shares of the company’s stock valued at $13,383,201,000 after acquiring an additional 1,595,038 shares during the last quarter. Vanguard Group Inc raised its holdings in shares of PepsiCo by 1.4% in the third quarter. Vanguard Group Inc now owns 119,706,640 shares of the company’s stock valued at $13,383,201,000 after buying an additional 1,595,038 shares during the last quarter. BlackRock Inc. raised its holdings in shares of PepsiCo by 2.4% in the fourth quarter. BlackRock Inc. now owns 97,102,071 shares of the company’s stock valued at $10,727,836,000 after buying an additional 2,275,511 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of PepsiCo by 10,622.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,704,199 shares of the company’s stock valued at $314,000 after buying an additional 34,380,553 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of PepsiCo by 3.2% in the fourth quarter. Northern Trust Corp now owns 20,185,841 shares of the company’s stock valued at $2,230,132,000 after buying an additional 623,727 shares during the last quarter. 72.30% of the stock is 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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