Three months after its Whole Foods acquisition, Amazon is making waves again with rumors that it is eying the prescription drug distribution business.
As of October 5, 2017, PepsiCo stock was rated a “buy” by 55.0% (12 of 22) analysts. The stock is rated a “hold” by ten analysts.
As of October 5, 2017, PepsiCo (PEP) was trading at a 12-month forward PE (price-to-earnings) ratio of 20.3x.
PepsiCo (PEP) stock rose 0.20% to $109.34 on October 4, 2017, the day the company announced its results for fiscal 3Q17.
PepsiCo’s (PEP) gross margin expanded about 10 basis points to 54.6% in fiscal 3Q17, which ended on September 9, 2017.
PepsiCo’s (PEP) Asia, Middle East, and North Africa segment reported a 4.2% fall in fiscal 3Q17 revenue to $1.6 billion.
PepsiCo’s (PEP) North America Beverages segment is its largest segment based on revenue. The segment’s weak numbers impacted PepsiCo’s overall revenue growth in fiscal 3Q17.
Beverage giant PepsiCo (PEP) delivered revenue of $16.2 billion in fiscal 3Q17, which ended on September 9, 2017. It lagged the consensus analysts’ revenue estimate of $16.3 billion.
PepsiCo (PEP) announced its fiscal 3Q17 results on October 4, 2017, beating analysts’ earnings expectations but missing revenue estimates.
Kellogg (K), like most of its packaged food manufacturing peers, is grappling with weak consumer demand for its products.
Kellogg (K) announced the acquisition of Chicago Bar Company, the manufacturer of RXBAR, for $600 million.
About 66.0% of the 29 analysts providing ratings for Costco stock maintained a “buy” recommendation, and 34.0% recommended a “hold.”
Costco’s (COST) increased price investments to drive shoppers to its stores and fend off growing competition in the grocery space adversely impacted its margins in fiscal 4Q17.
Costco’s (COST) fiscal 4Q17 total sales of $42.3 billion exceeded Wall Street’s estimate and rose 15.7% YoY, reflecting growth in average transactions and shopping frequency.
Costco (COST) reported better-than-expected bottom line results on October 5, 2017. The company’s earnings of $2.08 per share surpassed analysts’ estimate of $2.02.
Costco Wholesale (COST) posted strong fiscal 4Q17 results on Thursday, October 5, 2017. As expected, it exceeded analysts’ estimates for both sales and earnings.
Among the other retailers that could benefit in the current scenario, Home Depot (HD) and Walmart (WMT) have respective tax rates of 36% and 31%.
The effective tax rate for S&P 500 (SPX) stocks is ~27.6%.
Kraft Heinz stock closed at $77.77 on October 4, 2017, which represents 22.5% upside to analysts’ target price of $95.28 per share.
Goldman Sachs downgraded Kraft Heinz (KHC) stock to “neutral” from “buy” and lowered its target price from $95.00 to $87.00 per share.