Investors Buy PepsiCo Inc. (PEP) on Weakness
Investors purchased shares of PepsiCo Inc. (NYSE:PEP) on weakness during trading on Tuesday. $108.37 million flowed into the stock on the tick-up and $77.55 million flowed out of the stock on the tick-down, for a money net flow of $30.82 million into the stock. Of all stocks tracked, PepsiCo had the 9th highest net in-flow for the day. PepsiCo traded down ($0.12) for the day and closed at $108.79
Several analysts have commented on the stock. Susquehanna restated a “neutral” rating on shares of PepsiCo in a report on Sunday. Deutsche Bank AG raised their target price on shares of PepsiCo from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, July 8th. Jefferies Group restated a “buy” rating and set a $124.00 target price (up from $119.00) on shares of PepsiCo in a report on Wednesday, July 6th. Vetr downgraded shares of PepsiCo from a “hold” rating to a “sell” rating and set a $99.50 target price on the stock. in a report on Wednesday, June 29th. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and set a $104.00 target price (down from $105.00) on shares of PepsiCo in a report on Wednesday, June 29th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $108.88.
The firm has a market capitalization of $156.57 billion and a P/E ratio of 30.74. The stock’s 50 day moving average price is $103.75 and its 200 day moving average price is $101.36.
PepsiCo (NYSE:PEP) last posted its quarterly earnings results on Thursday, July 7th. The company reported $1.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.05. During the same period in the prior year, the company earned $1.32 EPS. The business earned $15.40 billion during the quarter. PepsiCo’s revenue was down 3.3% on a year-over-year basis. Equities analysts forecast that PepsiCo Inc. will post $4.76 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Friday, June 3rd were paid a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend was Wednesday, June 1st. This is an increase from PepsiCo’s previous quarterly dividend of $0.70.
In related news, CEO Indra K. Nooyi sold 304,220 shares of the company’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $103.31, for a total transaction of $31,428,968.20. Following the completion of the sale, the chief executive officer now owns 649,818 shares in the company, valued at $67,132,697.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Cynthia Trudell sold 8,000 shares of the company’s stock in a transaction on Wednesday, April 20th. The shares were sold at an average price of $104.23, for a total value of $833,840.00. Following the sale, the executive vice president now owns 39,592 shares of the company’s stock, valued at approximately $4,126,674.16. The disclosure for this sale can be found here.
Other hedge funds have recently bought and sold shares of the company. Swiss National Bank boosted its stake in PepsiCo by 0.7% in the fourth quarter. Swiss National Bank now owns 3,509,506 shares of the company’s stock worth $350,670,000 after buying an additional 25,200 shares during the period. Dimensional Fund Advisors LP boosted its stake in PepsiCo by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,100,373 shares of the company’s stock worth $309,815,000 after buying an additional 142,355 shares during the period. Russell Frank Co boosted its stake in PepsiCo by 16.6% in the fourth quarter. Russell Frank Co now owns 3,020,031 shares of the company’s stock worth $305,507,000 after buying an additional 429,451 shares during the period. California State Teachers Retirement System boosted its stake in PepsiCo by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 2,735,306 shares of the company’s stock worth $273,312,000 after buying an additional 43,591 shares during the period. Finally, US Bancorp DE boosted its stake in PepsiCo by 0.4% in the fourth quarter. US Bancorp DE now owns 2,647,247 shares of the company’s stock worth $264,514,000 after buying an additional 9,409 shares during the period.
PepsiCo, Inc is a food and beverage company. The Company, through its operations, bottlers, contract manufacturers and other third parties, is engaged in making, marketing, distributing and selling a range of beverages, foods and snacks, serving in over 200 countries and territories. The Company operates through six segments, namely, Frito-Lay North America (FLNA); Quaker Foods North America (QFNA); North America Beverages (NAB); Latin America, which includes its beverage, food and snack businesses in Latin America; Europe Sub-Saharan Africa (ESSA), which includes its beverage, food and snack businesses in Europe and Sub-Saharan Africa, and Asia, Middle East and North Africa (AMENA), which includes its beverage, food and snack businesses in Asia, Middle East and North Africa.
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