Investors Sell PepsiCo Inc. (PEP) on Strength (PEP)
Investors sold shares of PepsiCo Inc. (NYSE:PEP) on strength during trading on Friday. $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 equities tracked, PepsiCo had the 0th 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 a number of recent analyst reports. Argus boosted their price target on shares of PepsiCo from $116.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, July 13th. Jefferies Group reiterated a “buy” rating and set a $119.00 target price on shares of PepsiCo in a research report on Wednesday, June 29th. Susquehanna reiterated a “neutral” rating on shares of PepsiCo in a research report on Tuesday, June 14th. Vetr downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $108.48 target price on the stock. in a research report on Monday, May 9th. Finally, Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $104.00 target price (down previously from $105.00) on shares of PepsiCo in a research report on Wednesday, June 29th. One equities 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 company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $109.83.
The stock has a 50 day moving average of $108.33 and a 200-day moving average of $104.14. The stock has a market capitalization of $155.24 billion and a PE ratio of 30.48.
PepsiCo (NYSE:PEP) last issued its earnings results on Thursday, July 7th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.05. During the same quarter last year, the company earned $1.32 EPS. The firm earned $15.40 billion during the quarter. The business’s revenue was down 3.3% on a year-over-year basis. Equities research analysts expect that PepsiCo Inc. will post $4.76 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be issued 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 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 value of $5,487,000.10. Following the transaction, the executive vice president now owns 164,464 shares in the company, valued at $17,646,987.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Albert P. Carey sold 170,003 shares of the firm’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $108.81, for a total transaction of $18,498,026.43. Following the completion of the transaction, the chief executive officer now 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 hedge funds recently added to or reduced their stakes in the stock. QCI Asset Management Inc. NY boosted its stake 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. Brown Advisory Securities LLC boosted its stake in PepsiCo by 3.5% in the fourth quarter. Brown Advisory Securities LLC now owns 42,155 shares of the company’s stock valued at $4,209,000 after buying an additional 1,408 shares during the period. Smith Salley & Associates boosted its stake in PepsiCo by 142.9% in the fourth quarter. Smith Salley & Associates now owns 36,346 shares of the company’s stock valued at $3,631,000 after buying an additional 21,381 shares during the period. Brown Advisory Inc. boosted its stake in PepsiCo by 3.5% in the fourth quarter. Brown Advisory Inc. now owns 1,046,521 shares of the company’s stock valued at $104,568,000 after buying an additional 35,368 shares during the period. Finally, Gulf International Bank UK Ltd boosted its stake 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.
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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