PepsiCo (PEP) Sets New 1-Year High on Analyst Upgrade

PepsiCo, Inc. (NASDAQ:PEP) shares hit a new 52-week high on Tuesday after BidaskClub upgraded the stock from a hold rating to a buy rating. The company traded as high as $128.51 and last traded at $127.41, with a volume of 5148362 shares trading hands. The stock had previously closed at $127.16.

A number of other research analysts have also weighed in on PEP. Zacks Investment Research lowered PepsiCo from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Wells Fargo & Co increased their price objective on PepsiCo from $120.00 to $127.00 and gave the company a “positive” rating in a report on Tuesday. ValuEngine raised PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Deutsche Bank raised their target price on PepsiCo from $120.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, April 18th. Finally, SunTrust Banks raised their target price on PepsiCo to $120.00 and gave the stock a “hold” rating in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $124.65.

In other PepsiCo news, EVP David Yawman sold 25,263 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $126.42, for a total transaction of $3,193,748.46. Following the transaction, the executive vice president now owns 80,934 shares in the company, valued at $10,231,676.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vivek Sankaran sold 13,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $117.28, for a total value of $1,524,640.00. Following the transaction, the chief executive officer now owns 90,379 shares in the company, valued at approximately $10,599,649.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,063 shares of company stock worth $5,701,110. 0.28% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. BlueMountain Capital Management LLC purchased a new position in PepsiCo during the first quarter worth approximately $1,898,000. Summit Trail Advisors LLC purchased a new position in shares of PepsiCo in the first quarter valued at approximately $338,000. Castle Rock Wealth Management LLC lifted its position in shares of PepsiCo by 15.9% in the first quarter. Castle Rock Wealth Management LLC now owns 3,241 shares of the company’s stock valued at $24,883,000 after acquiring an additional 444 shares in the last quarter. Abbot Financial Management Inc. lifted its position in shares of PepsiCo by 3.4% in the first quarter. Abbot Financial Management Inc. now owns 11,563 shares of the company’s stock valued at $1,417,000 after acquiring an additional 384 shares in the last quarter. Finally, BlueCrest Capital Management Ltd lifted its position in shares of PepsiCo by 3,301.2% in the first quarter. BlueCrest Capital Management Ltd now owns 102,919 shares of the company’s stock valued at $12,613,000 after acquiring an additional 99,893 shares in the last quarter. Institutional investors own 71.79% of the company’s stock.

The stock has a market cap of $178.26 billion, a price-to-earnings ratio of 22.83, a P/E/G ratio of 3.30 and a beta of 0.66. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 1.99.

PepsiCo (NASDAQ:PEP) last released its earnings results on Wednesday, April 17th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.05. The business had revenue of $12.88 billion for the quarter, compared to the consensus estimate of $12.68 billion. PepsiCo had a return on equity of 65.12% and a net margin of 19.37%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 earnings per share. Analysts forecast that PepsiCo, Inc. will post 5.51 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a $0.955 dividend. This represents a $3.82 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Thursday, June 6th. This is an increase from PepsiCo’s previous quarterly dividend of $0.93. PepsiCo’s dividend payout ratio (DPR) is 65.55%.

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About PepsiCo (NASDAQ:PEP)

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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