Traders Buy PepsiCo Inc. (PEP) on Weakness
Investors purchased shares of PepsiCo Inc. (NYSE:PEP) on weakness during trading hours on Tuesday. $57.82 million flowed into the stock on the tick-up and $36.58 million flowed out of the stock on the tick-down, for a money net flow of $21.24 million into the stock. Of all companies tracked, PepsiCo had the 15th highest net in-flow for the day. PepsiCo traded down ($0.08) for the day and closed at $107.88
Several research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Credit Agricole SA reiterated an “outperform” rating on shares of PepsiCo in a research report on Tuesday, May 17th. Vetr downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $104.63 price target for the company. in a research report on Wednesday, June 1st. Sanford C. Bernstein reiterated an “outperform” rating and issued a $118.00 price target on shares of PepsiCo in a research report on Wednesday, August 10th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of PepsiCo in a research report on Friday, July 15th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $109.83.
The stock has a 50 day moving average of $108.47 and a 200-day moving average of $103.71. The stock has a market cap of $155.26 billion and a P/E ratio of 30.48.
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 the consensus estimate of $1.30 by $0.05. The firm had revenue of $15.40 billion for the quarter. During the same period last year, the business posted $1.32 earnings per share. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. Equities analysts predict that PepsiCo Inc. will post $4.76 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be issued a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Wednesday, August 31st.
In other news, SVP Marie T. Gallagher sold 13,586 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $6,342,528.83. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Albert P. Carey sold 170,003 shares of the business’s stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $108.81, for a total transaction of $18,498,026.43. Following the transaction, the chief executive officer now directly owns 306,138 shares of the company’s stock, valued at approximately $33,310,875.78. The disclosure for this sale can be found here.
Several institutional investors have recently made changes to their positions in the stock. Ardevora Asset Management LLP increased its position in shares of PepsiCo by 195.9% in the fourth quarter. Ardevora Asset Management LLP now owns 142,600 shares of the company’s stock valued at $14,249,000 after buying an additional 94,400 shares during the period. Lindsell Train Ltd increased its position in shares of PepsiCo by 9.6% in the fourth quarter. Lindsell Train Ltd now owns 1,116,850 shares of the company’s stock valued at $111,596,000 after buying an additional 98,000 shares during the period. Chicago Equity Partners LLC boosted its stake in shares of PepsiCo by 1.0% in the fourth quarter. Chicago Equity Partners LLC now owns 234,260 shares of the company’s stock worth $23,407,000 after buying an additional 2,350 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of PepsiCo by 104.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 68,985 shares of the company’s stock worth $6,893,000 after buying an additional 35,300 shares in the last quarter. Finally, Keel Point LLC boosted its stake in shares of PepsiCo by 0.6% in the fourth quarter. Keel Point LLC now owns 12,636 shares of the company’s stock worth $1,263,000 after buying an additional 71 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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