Insider Selling: Albert P. Carey Sells 46,065 Shares of PepsiCo Stock (PEP)
PepsiCo (NYSE:PEP) CEO Albert P. Carey sold 46,065 shares of PepsiCo stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $91.53, for a total transaction of $4,216,329.45. Following the completion of the transaction, the chief executive officer now directly owns 184,949 shares of the company’s stock, valued at approximately $16,928,382. The sale was disclosed in a filing with the SEC, which is available at this link.
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 Thursday, July 24th. They now have a $95.00 price target on the stock. Separately, analysts at Stifel Nicolaus upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Thursday, July 24th. They now have a $106.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of PepsiCo in a research note on Thursday, July 24th. They now have a $103.00 price target on the stock, up previously from $102.00. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $95.36.
PepsiCo (NYSE:PEP) traded down 0.91% during mid-day trading on Tuesday, hitting $90.14. The stock had a trading volume of 4,268,628 shares. PepsiCo has a one year low of $77.01 and a one year high of $93.09. The stock’s 50-day moving average is $89.42 and its 200-day moving average is $84.80. The company has a market cap of $135.8 billion and a price-to-earnings ratio of 20.53.
PepsiCo (NYSE:PEP) last released its earnings data on Wednesday, July 23rd. The company reported $1.32 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.23 by $0.09. The company had revenue of $16.89 billion for the quarter, compared to the consensus estimate of $16.79 billion. During the same quarter last year, the company posted $1.31 earnings per share. PepsiCo’s revenue was up .5% compared to the same quarter last year. Analysts expect that PepsiCo will post $4.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Wednesday, September 3rd.
PepsiCo, Inc (NYSE:PEP) is a global food and beverage company.
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