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

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

A number of other brokerages have also recently commented on PEP. BidaskClub upgraded shares of Xilinx from a hold rating to a buy rating in a research note on Saturday, June 29th. Deutsche Bank increased their price target on shares of Las Vegas Sands from $60.00 to $69.00 and gave the company a hold rating in a research note on Thursday, April 18th. They noted that the move was a valuation call. Royal Bank of Canada set a GBX 5,200 ($67.95) price target on shares of London Stock Exchange Group and gave the company a buy rating in a research note on Wednesday, April 24th. Cowen increased their price target on shares of PepsiCo from $142.00 to $150.00 and gave the company an outperform rating in a research note on Wednesday. Finally, Zacks Investment Research cut shares of Guaranty Federal Bancshares from a hold rating to a sell rating in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. PepsiCo has a consensus rating of Hold and a consensus price target of $128.53.

PEP stock traded down $0.06 during trading hours on Wednesday, reaching $134.35. The stock had a trading volume of 3,846,753 shares, compared to its average volume of 4,837,682. The company has a market capitalization of $188.42 billion, a PE ratio of 23.74, a PEG ratio of 3.45 and a beta of 0.60. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 1.99. The company’s 50-day moving average is $131.79. PepsiCo has a fifty-two week low of $104.53 and a fifty-two week high of $135.24.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, July 9th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.05. The firm had revenue of $16.45 billion during the quarter, compared to analysts’ expectations of $16.44 billion. PepsiCo had a net margin of 19.37% and a return on equity of 65.12%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.61 earnings per share. As a group, sell-side analysts predict that PepsiCo will post 5.51 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.955 per share. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.84%. PepsiCo’s dividend payout ratio is presently 67.49%.

In related 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 transaction, the chairman now directly owns 232,394 shares of the company’s stock, valued at $30,078,755.42. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Marie T. Gallagher sold 7,800 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $125.99, for a total transaction of $982,722.00. Following the transaction, the senior vice president now directly owns 55,665 shares in the company, valued at $7,013,233.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,494 shares of company stock valued at $6,173,705. 0.28% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Horan Securities Inc. increased its position in PepsiCo by 460.0% during the fourth quarter. Horan Securities Inc. now owns 280 shares of the company’s stock worth $30,000 after acquiring an additional 230 shares during the period. 1 North Wealth Services LLC bought a new position in PepsiCo during the fourth quarter worth about $39,000. Financial Gravity Companies Inc. bought a new position in PepsiCo during the fourth quarter worth about $41,000. Thor Advisors LLC bought a new position in PepsiCo during the first quarter worth about $70,000. Finally, Essex Investment Management Co. LLC bought a new position in PepsiCo during the fourth quarter worth about $71,000. 70.83% of the stock is currently owned by institutional investors and hedge funds.

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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