Traders Sell PepsiCo Inc. (PEP) on Strength (PEP)
Investors sold shares of PepsiCo Inc. (NYSE:PEP) on strength during trading hours 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 stocks tracked, PepsiCo had the 0th highest net out-flow for the day. PepsiCo traded up $0.38 for the day and closed at $108.42
PEP has been the topic of several analyst reports. Vetr raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $109.87 target price on the stock in a report on Monday, April 11th. Stifel Nicolaus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the company from $107.62 to $103.13 in a report on Thursday, April 14th. They noted that the move was a valuation call. Susquehanna reaffirmed a “hold” rating and issued a $105.00 target price on shares of PepsiCo in a report on Thursday, April 14th. First Global raised shares of PepsiCo from a “marketperform” rating to an “outperform” rating in a report on Thursday, April 14th. Finally, Bank of America Corp. reissued a “buy” rating and set a $112.00 price objective (up previously from $105.00) on shares of PepsiCo in a report on Friday, April 15th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the stock. PepsiCo presently has an average rating of “Hold” and an average price target of $109.68.
The stock has a 50 day moving average of $107.01 and a 200-day moving average of $102.63. The firm has a market capitalization of $156.38 billion and a P/E ratio of 30.70.
PepsiCo (NYSE:PEP) last posted its quarterly earnings data on Thursday, July 7th. The company reported $1.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.05. The business had revenue of $15.40 billion for the quarter. During the same period last year, the business posted $1.32 EPS. The company’s quarterly revenue was down 3.3% on a year-over-year basis. Analysts predict that PepsiCo Inc. will post $4.76 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be given a dividend of $0.7525 per share. The ex-dividend date is Wednesday, August 31st. This represents a $3.01 annualized dividend and a dividend yield of 2.77%.
In other news, SVP Marie T. Gallagher sold 13,586 shares of the firm’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $109.01, for a total transaction of $1,481,009.86. Following the completion of the transaction, the senior vice president now owns 58,183 shares in the company, valued at approximately $6,342,528.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Laxman Narasimhan sold 3,219 shares of the firm’s stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $109.11, for a total transaction of $351,225.09. Following the transaction, the chief executive officer now owns 97,057 shares of the company’s stock, valued at approximately $10,589,889.27. The disclosure for this sale can be found here.
A number of hedge funds have recently bought and sold shares of PEP. Parsec Financial Management Inc. raised its stake in PepsiCo by 0.7% in the fourth quarter. Parsec Financial Management Inc. now owns 172,667 shares of the company’s stock worth $17,253,000 after buying an additional 1,254 shares in the last quarter. Formidable Asset Management LLC raised its stake in PepsiCo by 3.5% in the fourth quarter. Formidable Asset Management LLC now owns 15,358 shares of the company’s stock worth $1,527,000 after buying an additional 516 shares in the last quarter. Denver Investment Advisors LLC raised its stake in PepsiCo by 3.4% in the fourth quarter. Denver Investment Advisors LLC now owns 32,933 shares of the company’s stock worth $3,291,000 after buying an additional 1,080 shares in the last quarter. IFC Holdings Incorporated FL raised its stake in PepsiCo by 7.0% in the fourth quarter. IFC Holdings Incorporated FL now owns 10,641 shares of the company’s stock worth $1,059,000 after buying an additional 700 shares in the last quarter. Finally, Banque Pictet & Cie SA raised its stake in PepsiCo by 1.9% in the fourth quarter. Banque Pictet & Cie SA now owns 1,630,354 shares of the company’s stock worth $162,905,000 after buying an additional 30,067 shares in the last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.