Investors Sell PepsiCo Inc. (PEP) on Strength (PEP)
Traders sold shares of PepsiCo Inc. (NYSE:PEP) on strength during trading on Thursday. $213.95 million flowed into the stock on the tick-up and $236.14 million flowed out of the stock on the tick-down, for a money net flow of $22.19 million out of the stock. Of all stocks tracked, PepsiCo had the 0th highest net out-flow for the day. PepsiCo traded up $1.57 for the day and closed at $107.49
PEP has been the subject of several research analyst reports. Vetr cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $108.48 price objective for the company. in a research report on Monday, May 9th. First Global upgraded shares of PepsiCo from a “marketperform” rating to an “outperform” rating in a research report on Thursday, April 14th. Bank of America Corp. reiterated a “buy” rating and set a $112.00 target price (up previously from $105.00) on shares of PepsiCo in a research report on Friday, April 15th. Stifel Nicolaus cut shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their target price for the company from $107.62 to $103.13 in a research report on Thursday, April 14th. They noted that the move was a valuation call. Finally, Credit Agricole SA reiterated an “outperform” rating on shares of PepsiCo in a research report on Tuesday, May 17th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $108.38.
The stock has a market cap of $155.26 billion and a P/E ratio of 30.69. The stock’s 50 day moving average price is $103.04 and its 200 day moving average price is $101.16.
PepsiCo (NYSE:PEP) last issued its quarterly earnings data on Thursday, July 7th. The company reported $1.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.06. The company earned $15.40 billion during the quarter, compared to the consensus estimate of $15.38 billion. During the same quarter last year, the company posted $1.32 earnings per share. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. Equities analysts predict that PepsiCo Inc. will post $4.73 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Friday, June 3rd were issued a $0.7525 dividend. This is a boost from PepsiCo’s previous quarterly dividend of $0.70. The ex-dividend date was Wednesday, June 1st. This represents a $3.01 annualized dividend and a yield of 2.80%.
In other PepsiCo news, CEO Indra K. Nooyi sold 304,220 shares of the company’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $103.31, for a total value of $31,428,968.20. Following the completion of the transaction, the chief executive officer now directly owns 649,818 shares in the company, valued at approximately $67,132,697.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Cynthia Trudell sold 8,000 shares of the company’s stock in a transaction on Wednesday, April 20th. The stock was sold at an average price of $104.23, for a total transaction of $833,840.00. Following the completion of the transaction, the executive vice president now owns 39,592 shares of the company’s stock, valued at $4,126,674.16. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently modified their holdings of the company. Russell Frank Co raised its position in shares of PepsiCo by 16.6% in the fourth quarter. Russell Frank Co now owns 3,020,031 shares of the company’s stock valued at $305,507,000 after buying an additional 429,451 shares during the period. Korea Investment CORP raised its position in shares of PepsiCo by 52.6% in the fourth quarter. Korea Investment CORP now owns 1,046,120 shares of the company’s stock valued at $104,528,000 after buying an additional 360,400 shares during the last quarter. First Trust Advisors LP raised its position in shares of PepsiCo by 333.7% in the fourth quarter. First Trust Advisors LP now owns 407,977 shares of the company’s stock valued at $40,765,000 after buying an additional 313,913 shares during the last quarter. Alleghany Corp DE acquired a new position in shares of PepsiCo during the fourth quarter valued at about $25,480,000. Finally, Public Employees Retirement Association of Colorado raised its position in shares of PepsiCo by 43.4% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 790,718 shares of the company’s stock valued at $79,009,000 after buying an additional 239,266 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.