Zacks: Brokerages Expect PepsiCo, Inc. (PEP) Will Post Quarterly Sales of $19.44 Billion
Equities analysts predict that PepsiCo, Inc. (NASDAQ:PEP) will announce sales of $19.44 billion for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for PepsiCo’s earnings, with the lowest sales estimate coming in at $19.35 billion and the highest estimate coming in at $19.60 billion. PepsiCo posted sales of $19.52 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 0.4%. The company is expected to announce its next quarterly earnings results before the market opens on Tuesday, February 13th.
According to Zacks, analysts expect that PepsiCo will report full year sales of $19.44 billion for the current financial year, with estimates ranging from $63.05 billion to $63.60 billion. For the next financial year, analysts expect that the company will post sales of $65.41 billion per share, with estimates ranging from $64.34 billion to $65.70 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover PepsiCo.
Several analysts have recently commented on PEP shares. Zacks Investment Research upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a report on Monday, December 4th. SunTrust Banks started coverage on shares of PepsiCo in a report on Monday, January 29th. They issued a “hold” rating and a $125.00 target price for the company. Credit Suisse Group reiterated a “neutral” rating and issued a $124.00 target price (up previously from $122.00) on shares of PepsiCo in a report on Thursday. Wells Fargo & Co increased their target price on shares of PepsiCo from $110.00 to $115.00 and gave the company a “market perform” rating in a report on Thursday, January 4th. Finally, BidaskClub downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. PepsiCo currently has a consensus rating of “Hold” and an average price target of $123.44.
The business also recently declared a quarterly dividend, which was paid on Monday, January 8th. Investors of record on Friday, December 1st were given a dividend of $0.805 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $3.22 annualized dividend and a yield of 2.71%. PepsiCo’s payout ratio is currently 66.53%.
Large investors have recently modified their holdings of the business. Rockland Trust Co. boosted its position in PepsiCo by 2.7% during the fourth quarter. Rockland Trust Co. now owns 145,893 shares of the company’s stock worth $17,495,000 after purchasing an additional 3,876 shares during the period. LGT Capital Partners LTD. boosted its position in PepsiCo by 2.2% during the fourth quarter. LGT Capital Partners LTD. now owns 177,753 shares of the company’s stock worth $21,316,000 after purchasing an additional 3,780 shares during the period. First American Trust FSB boosted its position in PepsiCo by 12.3% during the fourth quarter. First American Trust FSB now owns 70,784 shares of the company’s stock worth $8,489,000 after purchasing an additional 7,766 shares during the period. Windward Capital Management Co. CA boosted its position in PepsiCo by 2.7% during the fourth quarter. Windward Capital Management Co. CA now owns 129,819 shares of the company’s stock worth $15,568,000 after purchasing an additional 3,471 shares during the period. Finally, Patriot Wealth Management Inc. boosted its position in PepsiCo by 1.5% during the fourth quarter. Patriot Wealth Management Inc. now owns 41,517 shares of the company’s stock worth $4,979,000 after purchasing an additional 610 shares during the period. Hedge funds and other institutional investors own 70.17% of the company’s stock.
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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