PepsiCo (NASDAQ:PEP) announced that its Board of Directors has authorized a share buyback program, which allows the company to buyback $15.00 billion in shares on Tuesday, February 13th, EventVestor reports. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a research report on Monday, December 4th. SunTrust Banks assumed coverage on shares of PepsiCo in a research report on Monday, January 29th. They set a “hold” rating and a $125.00 price objective on the stock. Credit Suisse Group reissued a “neutral” rating and set a $124.00 price objective (up previously from $122.00) on shares of PepsiCo in a research report on Thursday, February 1st. Wells Fargo & Co increased their price objective on shares of PepsiCo from $110.00 to $115.00 and gave the stock a “market perform” rating in a research report on Thursday, January 4th. Finally, BidaskClub cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $123.04.
PepsiCo (NASDAQ:PEP) opened at $111.06 on Tuesday. PepsiCo has a 1 year low of $106.19 and a 1 year high of $122.51. The firm has a market cap of $157,690.00, a PE ratio of 21.82, a P/E/G ratio of 2.87 and a beta of 0.62. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.51 and a quick ratio of 1.37.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors 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 annualized dividend and a yield of 2.90%. PepsiCo’s payout ratio is 63.26%.
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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