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

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

Several other equities research analysts have also commented on the company. Goldman Sachs Group set a $131.00 price objective on Microsoft and gave the stock a buy rating in a research report on Wednesday, April 24th. SunTrust Banks upped their price objective on PepsiCo to $120.00 and gave the stock a hold rating in a research report on Thursday, April 18th. Macquarie upped their price objective on PepsiCo from $126.00 to $138.00 and gave the stock an outperform rating in a research report on Thursday, April 18th. Morgan Stanley restated an overweight rating and issued a $137.00 price objective (up previously from $130.00) on shares of PepsiCo in a research report on Thursday, April 18th. Finally, Deutsche Bank upped their price objective on Las Vegas Sands from $60.00 to $69.00 and gave the stock a hold rating in a research report on Thursday, April 18th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $128.53.

PepsiCo stock opened at $133.28 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.75 and a debt-to-equity ratio of 1.97. PepsiCo has a 12 month low of $104.53 and a 12 month high of $135.24. The stock has a 50 day moving average of $131.86. The stock has a market cap of $186.35 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 3.46 and a beta of 0.60.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, July 9th. The company reported $1.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.05. PepsiCo had a return on equity of 59.50% and a net margin of 19.59%. The business had revenue of $16.45 billion for the quarter, compared to analyst estimates of $16.44 billion. During the same quarter in the prior year, the firm posted $1.61 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts forecast that PepsiCo will post 5.51 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a dividend of $0.955 per share. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.87%. PepsiCo’s dividend payout ratio (DPR) is 67.49%.

In other news, SVP Marie T. Gallagher sold 7,800 shares of the stock in a transaction that occurred on 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 owns 55,665 shares in the company, valued at approximately $7,013,233.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven C. Williams sold 2,420 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $133.95, for a total value of $324,159.00. Following the transaction, the chief executive officer now owns 54,920 shares in the company, valued at approximately $7,356,534. The disclosure for this sale can be found here. Insiders have sold a total of 50,914 shares of company stock worth $6,497,864 in the last quarter. Insiders own 0.28% of the company’s stock.

Large investors have recently made changes to their positions in the company. Evolution Wealth Advisors LLC purchased a new position in PepsiCo in the 2nd quarter valued at $27,000. Horan Securities Inc. lifted its holdings in PepsiCo by 460.0% in the 4th quarter. Horan Securities Inc. now owns 280 shares of the company’s stock valued at $30,000 after purchasing an additional 230 shares in the last quarter. 1 North Wealth Services LLC purchased a new position in PepsiCo in the 4th quarter valued at $39,000. Financial Gravity Companies Inc. purchased a new position in PepsiCo in the 4th quarter valued at $41,000. Finally, Thor Advisors LLC purchased a new position in PepsiCo in the 1st quarter valued at $70,000. Hedge funds and other institutional investors own 70.83% of the company’s stock.

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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