PepsiCo (NASDAQ:PEP) Price Target Raised to $149.00 at Morgan Stanley

PepsiCo (NASDAQ:PEP) had its target price raised by Morgan Stanley from $143.00 to $149.00 in a research report report published on Wednesday, The Fly reports. Morgan Stanley currently has an overweight rating on the stock. The analysts noted that the move was a valuation call.

A number of other research firms have also recently weighed in on PEP. ValuEngine raised PepsiCo from a hold rating to a buy rating in a report on Tuesday, August 27th. Credit Suisse Group lifted their price target on PepsiCo from $110.00 to $117.00 and gave the company an underperform rating in a report on Friday, September 6th. Atlantic Securities initiated coverage on PepsiCo in a report on Monday, July 29th. They set an overweight rating and a $145.00 price target on the stock. UBS Group lifted their price target on PepsiCo from $130.00 to $132.00 and gave the company a neutral rating in a report on Wednesday, July 10th. Finally, Bank of America lifted their price target on PepsiCo from $135.00 to $142.00 and gave the company a buy rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. PepsiCo currently has an average rating of Buy and an average target price of $130.50.

NASDAQ PEP traded up $0.93 during trading hours on Wednesday, reaching $137.29. The company’s stock had a trading volume of 3,198,530 shares, compared to its average volume of 4,687,229. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 1.97. The business has a 50-day simple moving average of $132.01 and a 200 day simple moving average of $127.77. PepsiCo has a 52 week low of $104.53 and a 52 week high of $139.18. The stock has a market cap of $190.71 billion, a PE ratio of 24.26, a PEG ratio of 3.54 and a beta of 0.56.



PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, July 9th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.05. PepsiCo had a net margin of 19.59% and a return on equity of 59.50%. The firm had revenue of $16.45 billion for the quarter, compared to analysts’ expectations of $16.44 billion. During the same quarter last year, the company posted $1.61 earnings per share. PepsiCo’s revenue was up 2.2% on a year-over-year basis. As a group, equities analysts predict that PepsiCo will post 5.51 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a dividend of $0.955 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.78%. PepsiCo’s dividend payout ratio is presently 67.49%.

In other PepsiCo news, CEO Steven C. Williams sold 2,420 shares of PepsiCo 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 $7,356,534. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Kirk Tanner sold 9,573 shares of PepsiCo stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $128.15, for a total transaction of $1,226,779.95. Following the completion of the transaction, the chief executive officer now owns 105,350 shares in the company, valued at approximately $13,500,602.50. The disclosure for this sale can be found here. 0.28% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of PEP. Personal Wealth Partners purchased a new position in PepsiCo during the 2nd quarter worth approximately $25,000. Krane Funds Advisors LLC purchased a new position in PepsiCo during the 2nd quarter worth approximately $25,000. Evolution Wealth Advisors LLC purchased a new position in PepsiCo during the 2nd quarter worth approximately $27,000. Financial Advantage Inc. purchased a new position in PepsiCo during the 2nd quarter worth approximately $28,000. Finally, G&S Capital LLC grew its position in PepsiCo by 96.3% during the 2nd quarter. G&S Capital LLC now owns 371 shares of the company’s stock worth $49,000 after purchasing an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 71.51% 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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