Traders Sell PepsiCo Inc. (PEP) on Strength (PEP)
Traders sold shares of PepsiCo Inc. (NYSE:PEP) on strength during trading on Thursday. $50.60 million flowed into the stock on the tick-up and $74.25 million flowed out of the stock on the tick-down, for a money net flow of $23.65 million out of the stock. Of all equities tracked, PepsiCo had the 15th highest net out-flow for the day. PepsiCo traded up $0.38 for the day and closed at $108.42
A number of brokerages have issued reports on PEP. BMO Capital Markets reaffirmed an “outperform” rating on shares of PepsiCo in a report on Friday, July 15th. Zacks Investment Research cut PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Vetr cut PepsiCo from a “hold” rating to a “sell” rating and set a $99.50 target price for the company. in a report on Wednesday, June 29th. Goldman Sachs Group Inc. reaffirmed a “hold” rating and issued a $105.00 target price (up previously from $103.00) on shares of PepsiCo in a report on Tuesday, April 19th. Finally, Argus upped their target price on PepsiCo from $116.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, July 13th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $109.68.
The firm’s 50-day moving average price is $106.87 and its 200-day moving average price is $102.58. The company has a market cap of $156.03 billion and a P/E ratio of 30.64.
PepsiCo (NYSE:PEP) last announced its quarterly earnings results on Thursday, July 7th. The company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. During the same quarter in the previous year, the company posted $1.32 EPS. The business had revenue of $15.40 billion for the quarter. PepsiCo’s revenue for the quarter was down 3.3% compared to the same quarter last year. Equities research analysts forecast that PepsiCo Inc. will post $4.76 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be issued a dividend of $0.7525 per share. The ex-dividend date is Wednesday, August 31st. This represents a $3.01 dividend on an annualized basis and a yield of 2.78%.
In related news, SVP Marie T. Gallagher sold 13,586 shares of the business’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $109.01, for a total transaction of $1,481,009.86. Following the transaction, the senior vice president now owns 58,183 shares in the company, valued at approximately $6,342,528.83. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mehmood Khan sold 51,137 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $107.30, for a total value of $5,487,000.10. Following the transaction, the executive vice president now owns 164,464 shares in the company, valued at approximately $17,646,987.20. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have made changes to their positions in the stock. Farmers & Merchants Investments Inc. increased its position in shares of PepsiCo by 2.2% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 143,480 shares of the company’s stock worth $14,337,000 after buying an additional 3,064 shares in the last quarter. Matterhorn Capital Management LLC increased its position in PepsiCo by 13.0% in the fourth quarter. Matterhorn Capital Management LLC now owns 66,875 shares of the company’s stock worth $6,682,000 after buying an additional 7,702 shares during the period. McKinley Carter Wealth Services Inc. increased its position in PepsiCo by 0.3% in the fourth quarter. McKinley Carter Wealth Services Inc. now owns 37,630 shares of the company’s stock worth $3,760,000 after buying an additional 120 shares during the period. Public Employees Retirement Association of Colorado increased its position in PepsiCo by 43.4% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 790,718 shares of the company’s stock worth $79,009,000 after buying an additional 239,266 shares during the period. Finally, Financial Partners Capital Management LLC increased its position in PepsiCo by 131.8% in the fourth quarter. Financial Partners Capital Management LLC now owns 14,359 shares of the company’s stock worth $1,435,000 after buying an additional 8,164 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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