PepsiCo (PEP) Receives a Hold from Jefferies


In a report released yesterday, Kevin Grundy from Jefferies maintained a Hold rating on PepsiCo (PEP), with a price target of $119. The company’s shares closed yesterday at $127.01, close to its 52-week high of $127.11.

Grundy commented:

“PEP delivered a high-quality 1Q, incl. better org sales (5.2% vs. Street ~4%), GM % (55.9% vs. 55.3%), and SG&A, partially offset by $0.04 drag from taxes, driving a clean EPS beat ($0.97 vs. $0.92). FY19 guidance, incl. org sales +4% and core EPS of $5.50 (vs. Street $5.52), was reaffirmed. A good start to FY19, which will be a reinvestment year, w/ability to sustain topline acceleration key to further multiple expansion – PEP’s shares should get lift on qtr.”

According to TipRanks.com, Grundy is a 4-star analyst with an average return of 7.6% and a 63.7% success rate. Grundy covers the Consumer Goods sector, focusing on stocks such as Coca-Cola European Partners plc, Constellation Brands Inc, and Edgewell Personal Care.

Currently, the analyst consensus on PepsiCo is a Moderate Buy with an average price target of $119.50.

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PepsiCo’s market cap is currently $179B and has a P/E ratio of 14.43. The company has a Price to Book ratio of 12.33.

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock.

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