Traders Sell PepsiCo Inc. (PEP) on Strength (PEP)
Traders sold shares of PepsiCo Inc. (NYSE:PEP) on strength during trading on Wednesday. $42.55 million flowed into the stock on the tick-up and $86.44 million flowed out of the stock on the tick-down, for a money net flow of $43.89 million out of the stock. Of all companies tracked, PepsiCo had the 9th highest net out-flow for the day. PepsiCo traded up $0.23 for the day and closed at $108.11
PEP has been the subject of several research analyst reports. Vetr lowered PepsiCo from a “buy” rating to a “hold” rating and set a $108.48 price objective for the company. in a research note on Monday, May 9th. Credit Agricole SA reissued an “outperform” rating on shares of PepsiCo in a research note on Monday. Susquehanna reissued a “neutral” rating on shares of PepsiCo in a research note on Tuesday, June 14th. Deutsche Bank AG lifted their price objective on PepsiCo from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, July 8th. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating and set a $104.00 price objective (down previously from $105.00) on shares of PepsiCo in a research note on Wednesday, June 29th. One analyst has rated the stock with a sell rating, eleven 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 an average target price of $109.83.
The firm’s 50 day moving average is $108.52 and its 200-day moving average is $103.74. The stock has a market cap of $155.59 billion and a price-to-earnings ratio of 30.55.
PepsiCo (NYSE:PEP) last posted its quarterly earnings data on Thursday, July 7th. The company reported $1.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.05. The firm earned $15.40 billion during the quarter. During the same quarter in the prior year, the business earned $1.32 earnings per share. PepsiCo’s revenue for the quarter was down 3.3% compared to the same quarter last year. Equities analysts anticipate 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. Stockholders of record on Friday, September 2nd will be given a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Wednesday, August 31st.
In other news, EVP Mehmood Khan sold 51,137 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $107.30, for a total transaction of $5,487,000.10. Following the transaction, the executive vice president now directly owns 164,464 shares of the company’s stock, valued at $17,646,987.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Laxman Narasimhan sold 3,219 shares of the firm’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $109.11, for a total transaction of $351,225.09. Following the transaction, the chief executive officer now directly owns 97,057 shares in the company, valued at $10,589,889.27. The disclosure for this sale can be found here.
Other institutional investors recently modified their holdings of the company. Alleghany Corp DE bought a new position in shares of PepsiCo during the fourth quarter worth approximately $25,480,000. I.G. Investment Management LTD. raised its position in shares of PepsiCo by 22.3% in the fourth quarter. I.G. Investment Management LTD. now owns 1,144,663 shares of the company’s stock worth $114,375,000 after buying an additional 208,546 shares during the period. RiverFront Investment Group LLC bought a new position in shares of PepsiCo during the fourth quarter worth approximately $16,377,000. Stevens Capital Management LP bought a new position in shares of PepsiCo during the fourth quarter worth approximately $14,529,000. Finally, Lindsell Train Ltd raised 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 worth $111,596,000 after buying an additional 98,000 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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