Traders Buy Shares of PepsiCo Inc. (PEP) on Weakness
Traders purchased shares of PepsiCo Inc. (NYSE:PEP) on weakness during trading on Monday. $80.51 million flowed into the stock on the tick-up and $52.62 million flowed out of the stock on the tick-down, for a money net flow of $27.89 million into the stock. Of all companies tracked, PepsiCo had the 18th highest net in-flow for the day. PepsiCo traded down ($0.52) for the day and closed at $108.14
PEP has been the subject of several analyst reports. Susquehanna restated a “hold” rating and issued a $105.00 price objective on shares of PepsiCo in a research note on Thursday, April 14th. Zacks Investment Research upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $116.00 price objective for the company in a research note on Tuesday, April 19th. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $104.00 price objective (down from $105.00) on shares of PepsiCo in a research note on Wednesday, June 29th. Barclays PLC restated an “overweight” rating and issued a $115.00 price objective (up from $105.00) on shares of PepsiCo in a research note on Tuesday, April 19th. Finally, Jefferies Group restated a “buy” rating and issued a $119.00 price objective on shares of PepsiCo in a research note on Monday, May 16th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $109.68.
The stock has a market capitalization of $155.63 billion and a price-to-earnings ratio of 30.56. The stock has a 50 day moving average of $107.14 and a 200 day moving average of $102.84.
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. During the same period in the previous year, the company posted $1.32 earnings per share. The business had revenue of $15.40 billion for the quarter. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, analysts forecast that PepsiCo Inc. will post $4.76 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be paid a dividend of $0.7525 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $3.01 annualized dividend and a yield of 2.78%.
In other PepsiCo news, SVP Marie T. Gallagher sold 13,586 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 58,183 shares in the company, valued at approximately $6,342,528.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Laxman Narasimhan sold 3,219 shares of the business’s stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $109.11, for a total transaction of $351,225.09. Following the completion of the transaction, the chief executive officer now owns 97,057 shares in the company, valued at $10,589,889.27. The disclosure for this sale can be found here.
A number of institutional investors have recently bought and sold shares of PEP. Schaper Benz & Wise Investment Counsel Inc. WI raised its position in PepsiCo by 0.8% in the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 10,262 shares of the company’s stock valued at $1,025,000 after buying an additional 86 shares during the last quarter. IFC Holdings Incorporated FL raised its position in PepsiCo by 7.0% in the fourth quarter. IFC Holdings Incorporated FL now owns 10,641 shares of the company’s stock valued at $1,059,000 after buying an additional 700 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in PepsiCo by 5.1% in the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 10,912 shares of the company’s stock valued at $1,090,000 after buying an additional 532 shares during the last quarter. Private Capital Management Inc. purchased a new position in PepsiCo during the fourth quarter valued at $1,129,000. Finally, ARGI Investment Services LLC raised its position in PepsiCo by 2.7% in the fourth quarter. ARGI Investment Services LLC now owns 11,623 shares of the company’s stock valued at $1,161,000 after buying an additional 310 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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