PepsiCo (PEP) to Repurchase $15.00 billion in Stock

PepsiCo (NASDAQ:PEP) announced that its Board of Directors has initiated a share repurchase program, which permits the company to buyback $15.00 billion in shares on Tuesday, February 13th, EventVestor reports. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

A number of equities research analysts have recently issued reports on PEP shares. Cowen restated a “buy” rating and set a $133.00 price objective on shares of PepsiCo in a report on Tuesday, January 9th. Zacks Investment Research upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $123.00 price objective for the company in a report on Tuesday, October 31st. Deutsche Bank started coverage on PepsiCo in a report on Wednesday, December 13th. They set a “buy” rating and a $132.00 price objective for the company. Jefferies Group restated a “hold” rating and set a $113.00 price objective on shares of PepsiCo in a report on Thursday, January 4th. Finally, Stifel Nicolaus restated a “hold” rating and set a $120.00 price objective on shares of PepsiCo in a report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $123.04.

Shares of PepsiCo (PEP) opened at $111.06 on Friday. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.51 and a quick ratio of 1.21. PepsiCo has a 1 year low of $106.19 and a 1 year high of $122.51. The firm has a market cap of $157,820.00, a P/E ratio of 21.82, a PEG ratio of 2.87 and a beta of 0.62.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, February 13th. The company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.01. PepsiCo had a net margin of 7.65% and a return on equity of 61.14%. The company had revenue of $19.53 billion during the quarter, compared to the consensus estimate of $19.40 billion. During the same period in the previous year, the business earned $1.20 earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis. analysts predict that PepsiCo will post 5.69 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 2nd will be given a $0.805 dividend. The ex-dividend date is Thursday, March 1st. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.90%. PepsiCo’s payout ratio is 63.26%.

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PepsiCo Company Profile

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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