Traders Sell PepsiCo Inc. (PEP) on Strength (PEP)
Investors sold shares of PepsiCo Inc. (NYSE:PEP) on strength during trading hours on Wednesday. $33.76 million flowed into the stock on the tick-up and $53.90 million flowed out of the stock on the tick-down, for a money net flow of $20.14 million out of the stock. Of all equities tracked, PepsiCo had the 21st highest net out-flow for the day. PepsiCo traded up $0.54 for the day and closed at $108.82
Several analysts have recently commented on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $118.00 price objective on shares of PepsiCo in a research report on Wednesday. Zacks Investment Research downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Vetr downgraded shares of PepsiCo from a “hold” rating to a “sell” rating and set a $99.50 price objective for the company. in a research report on Wednesday, June 29th. Morgan Stanley reaffirmed a “buy” rating and set a $119.00 price objective on shares of PepsiCo in a research report on Monday, April 18th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $112.00 price objective (up previously from $110.00) on shares of PepsiCo in a research report on Tuesday, April 19th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $109.83.
The stock has a market capitalization of $156.61 billion and a P/E ratio of 30.75. The firm has a 50 day moving average of $107.42 and a 200 day moving average of $102.97.
PepsiCo (NYSE:PEP) last issued 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. The firm earned $15.40 billion during the quarter. During the same quarter last year, the firm posted $1.32 earnings per share. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, equities research analysts forecast that PepsiCo Inc. will post $4.76 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be paid a $0.7525 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $3.01 annualized dividend and a yield of 2.77%.
In other news, CEO Albert P. Carey sold 170,003 shares of the stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $108.81, for a total value of $18,498,026.43. Following the sale, the chief executive officer now directly owns 306,138 shares of the company’s stock, valued at $33,310,875.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ramon Laguarta sold 17,221 shares of the stock in a transaction on Monday, July 11th. The stock was sold at an average price of $108.27, for a total value of $1,864,517.67. Following the completion of the sale, the chief executive officer now directly owns 142,325 shares in the company, valued at $15,409,527.75. The disclosure for this sale can be found here.
Several large investors recently added to or reduced their stakes in PEP. Schaper Benz & Wise Investment Counsel Inc. WI boosted its stake in PepsiCo by 0.8% in the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 10,262 shares of the company’s stock worth $1,025,000 after buying an additional 86 shares in the last quarter. IFC Holdings Incorporated FL boosted 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. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in PepsiCo by 5.1% in the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 10,912 shares of the company’s stock worth $1,090,000 after buying an additional 532 shares in the last quarter. Private Capital Management Inc. bought a new stake in PepsiCo during the fourth quarter worth approximately $1,129,000. Finally, ARGI Investment Services LLC boosted its stake in PepsiCo by 2.7% in the fourth quarter. ARGI Investment Services LLC now owns 11,623 shares of the company’s stock worth $1,161,000 after buying an additional 310 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.
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