Investors Purchase Large Volume of PepsiCo Put Options (PEP)
Shares of PepsiCo (NYSE:PEP) were the recipient of some unusual options trading on Wednesday. Traders bought 4,113 put options on the stock, American Banking News reports. This represents an increase of 143% compared to the typical daily volume of 1,692 put options.
PEP has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of PepsiCo in a research note on Tuesday. They now have a $90.00 price target on the stock. Separately, analysts at S&P Equity Research downgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, April 24th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. PepsiCo has a consensus rating of “Buy” and an average target price of $92.09.
PepsiCo (NYSE:PEP) traded up 0.53% on Wednesday, hitting $86.10. The stock had a trading volume of 2,647,076 shares. PepsiCo has a 52 week low of $77.01 and a 52 week high of $87.68. The stock’s 50-day moving average is $85.16 and its 200-day moving average is $82.95. The company has a market cap of $130.5 billion and a P/E ratio of 19.35.
PepsiCo (NYSE:PEP) last released its earnings data on Thursday, April 17th. The company reported $0.83 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.75 by $0.08. The company had revenue of $12.62 billion for the quarter, compared to the consensus estimate of $12.43 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. Analysts expect that PepsiCo will post $4.54 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 30th. Investors of record on Friday, June 6th will be given a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Wednesday, June 4th. This is an increase from PepsiCo’s previous quarterly dividend of $0.57.
PepsiCo, Inc (NYSE:PEP) is a global food and beverage company.
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