Traders Buy PepsiCo Inc. (PEP) on Weakness
Traders bought shares of PepsiCo Inc. (NYSE:PEP) on weakness during trading hours on Wednesday. $93.05 million flowed into the stock on the tick-up and $49.80 million flowed out of the stock on the tick-down, for a money net flow of $43.25 million into the stock. Of all stocks tracked, PepsiCo had the 14th highest net in-flow for the day. PepsiCo traded down ($0.68) for the day and closed at $108.04
A number of equities research analysts recently issued reports on PEP shares. Argus raised their price target 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 restated a “buy” rating and set a $119.00 price objective on shares of PepsiCo in a report on Wednesday, June 29th. Citigroup Inc. raised their price objective on PepsiCo from $102.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, April 19th. Susquehanna restated a “hold” rating and set a $105.00 price objective on shares of PepsiCo in a report on Thursday, April 14th. Finally, Vetr downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $108.48 price objective on the stock. in a report on Monday, May 9th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $109.68.
The stock’s 50-day moving average is $106.71 and its 200 day moving average is $102.54. The company has a market capitalization of $155.49 billion and a price-to-earnings ratio of 30.53.
PepsiCo (NYSE:PEP) last announced its quarterly earnings data 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 company earned $15.40 billion during the quarter. During the same quarter in the prior year, the firm posted $1.32 EPS. The company’s quarterly revenue was down 3.3% on a year-over-year basis. Equities analysts expect that PepsiCo Inc. will post $4.76 earnings per share for the current year.
The business also recently disclosed 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. This represents a $3.01 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Wednesday, August 31st.
In related news, CEO Laxman Narasimhan sold 3,219 shares of the stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $109.11, for a total value of $351,225.09. Following the transaction, the chief executive officer now owns 97,057 shares of the company’s stock, valued at $10,589,889.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Albert P. Carey sold 170,003 shares of the stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $108.81, for a total value of $18,498,026.43. Following the completion of the transaction, the chief executive officer now directly owns 306,138 shares in the company, valued at approximately $33,310,875.78. The disclosure for this sale can be found here.
A number of institutional investors have bought and sold shares of PEP. Swiss National Bank raised its position in 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 period. BlackRock Investment Management LLC raised its position in PepsiCo by 1.8% in the fourth quarter. BlackRock Investment Management LLC now owns 3,468,698 shares of the company’s stock valued at $346,592,000 after buying an additional 62,141 shares during the period. Dimensional Fund Advisors LP raised its position in PepsiCo by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,100,373 shares of the company’s stock valued at $309,815,000 after buying an additional 142,355 shares during the period. US Bancorp DE raised its position in PepsiCo by 0.4% in the fourth quarter. US Bancorp DE now owns 2,647,247 shares of the company’s stock valued at $264,514,000 after buying an additional 9,409 shares during the period. Finally, Eaton Vance Management raised its position in PepsiCo by 0.9% in the fourth quarter. Eaton Vance Management now owns 2,522,736 shares of the company’s stock valued at $252,072,000 after buying an additional 21,462 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.
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