Investors Buy PepsiCo Inc. (PEP) on Weakness
Traders bought shares of PepsiCo Inc. (NYSE:PEP) on weakness during trading on Thursday. $70.05 million flowed into the stock on the tick-up and $47.39 million flowed out of the stock on the tick-down, for a money net flow of $22.66 million into the stock. Of all stocks tracked, PepsiCo had the 4th highest net in-flow for the day. PepsiCo traded down ($0.34) for the day and closed at $108.48
Several research firms recently weighed in on PEP. Zacks Investment Research lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Credit Agricole SA reaffirmed an “outperform” rating on shares of PepsiCo in a research report on Tuesday, May 17th. Vetr downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $104.63 price target on the stock. in a research report on Wednesday, June 1st. Morgan Stanley reaffirmed a “buy” rating and issued a $119.00 price target on shares of PepsiCo in a research report on Monday, April 18th. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $115.00 price target (up from $105.00) on shares of PepsiCo in a research report on Tuesday, April 19th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $109.83.
The company has a market capitalization of $156.12 billion and a price-to-earnings ratio of 30.65. The company’s 50 day moving average price is $107.55 and its 200-day moving average price is $103.01.
PepsiCo (NYSE:PEP) last posted its quarterly earnings data on Thursday, July 7th. The company reported $1.35 EPS for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.05. During the same quarter in the previous year, the business posted $1.32 EPS. The company had revenue of $15.40 billion for the quarter. PepsiCo’s revenue for the quarter was down 3.3% on a year-over-year basis. Analysts expect 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. Stockholders 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 dividend yield of 2.77%.
In other news, CEO Albert P. Carey sold 170,003 shares of PepsiCo 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 transaction, the chief executive officer now owns 306,138 shares in the company, valued at approximately $33,310,875.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Marie T. Gallagher sold 13,586 shares of PepsiCo stock in a transaction on Monday, July 11th. The shares were sold at an average price of $109.01, for a total value 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 disclosure for this sale can be found here.
Other institutional investors have modified their holdings of the company. Sei Investments Co. raised its position in shares of PepsiCo by 11.4% in the fourth quarter. Sei Investments Co. now owns 596,889 shares of the company’s stock valued at $59,641,000 after buying an additional 61,285 shares during the last quarter. Sawgrass Asset Management LLC raised its position in shares of PepsiCo by 0.4% in the fourth quarter. Sawgrass Asset Management LLC now owns 17,855 shares of the company’s stock valued at $1,784,000 after buying an additional 75 shares during the last quarter. Swiss National Bank raised its position in shares of PepsiCo by 0.7% in the fourth quarter. Swiss National Bank now owns 3,509,506 shares of the company’s stock valued at $350,670,000 after buying an additional 25,200 shares during the last quarter. Pictet & Cie Europe SA raised its position in shares of PepsiCo by 7.4% in the fourth quarter. Pictet & Cie Europe SA now owns 163,140 shares of the company’s stock valued at $16,301,000 after buying an additional 11,180 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its position in shares of PepsiCo by 1.6% in the fourth quarter. Eagle Asset Management Inc. now owns 743,482 shares of the company’s stock valued at $74,288,000 after buying an additional 11,579 shares during 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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