Traders Sell Shares of PepsiCo Inc. (PEP) on Strength (PEP)
Traders sold shares of PepsiCo Inc. (NYSE:PEP) on strength during trading on Monday. $56.63 million flowed into the stock on the tick-up and $121.16 million flowed out of the stock on the tick-down, for a money net flow of $64.53 million out of the stock. Of all companies tracked, PepsiCo had the 6th highest net out-flow for the day. PepsiCo traded up $0.58 for the day and closed at $107.87
PEP has been the topic of several analyst reports. Argus boosted their price objective on PepsiCo from $116.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, July 13th. Jefferies Group reaffirmed a “buy” rating and set a $119.00 target price on shares of PepsiCo in a research note on Wednesday, June 29th. Susquehanna reaffirmed a “neutral” rating on shares of PepsiCo in a research note on Tuesday, June 14th. Vetr cut PepsiCo from a “buy” rating to a “hold” rating and set a $108.48 target price on the stock. in a research note on Monday, May 9th. Finally, Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $104.00 target price (down previously from $105.00) on shares of PepsiCo in a research note on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $109.83.
The stock has a market cap of $155.24 billion and a PE ratio of 30.48. The stock’s 50-day moving average is $108.33 and its 200-day moving average is $104.14.
PepsiCo (NYSE:PEP) last posted its earnings results 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 company earned $15.40 billion during the quarter. During the same period in the previous year, the business earned $1.32 EPS. The business’s revenue was down 3.3% compared to the same quarter last year. On average, analysts predict that PepsiCo Inc. will post $4.76 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be issued a $0.7525 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $3.01 annualized dividend and a yield of 2.79%.
In related news, EVP Mehmood Khan sold 51,137 shares of PepsiCo stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 164,464 shares in the company, valued at approximately $17,646,987.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Albert P. Carey sold 170,003 shares of PepsiCo stock in a transaction that occurred 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 completion of the sale, the chief executive officer now 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.
Other institutional investors have bought and sold shares of the company. RiverFront Investment Group LLC acquired a new position in PepsiCo during the fourth quarter valued at approximately $16,377,000. Gulf International Bank UK Ltd increased its position in PepsiCo by 1.6% in the fourth quarter. Gulf International Bank UK Ltd now owns 437,631 shares of the company’s stock valued at $43,728,000 after buying an additional 6,800 shares during the period. Alleghany Corp DE acquired a new position in PepsiCo during the fourth quarter valued at approximately $25,480,000. Alerus Investment Advisors Corp increased its position in PepsiCo by 1.5% in the fourth quarter. Alerus Investment Advisors Corp now owns 61,199 shares of the company’s stock valued at $6,115,000 after buying an additional 910 shares during the period. Finally, QCI Asset Management Inc. NY increased its position in PepsiCo by 0.4% in the fourth quarter. QCI Asset Management Inc. NY now owns 137,765 shares of the company’s stock valued at $13,765,000 after buying an additional 498 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.