Investors Sell Shares of PepsiCo Inc. (PEP) on Strength (PEP)
Traders sold shares of PepsiCo Inc. (NYSE:PEP) on strength during trading on Wednesday. $53.68 million flowed into the stock on the tick-up and $92.59 million flowed out of the stock on the tick-down, for a money net flow of $38.91 million out of the stock. Of all stocks tracked, PepsiCo had the 0th highest net out-flow for the day. PepsiCo traded up $0.83 for the day and closed at $107.13
PEP has been the topic of a number of research analyst reports. Vetr raised PepsiCo from a “hold” rating to a “buy” rating and set a $112.11 price target on the stock in a research note on Wednesday, September 7th. Argus lifted their price target on PepsiCo from $116.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, July 13th. Zacks Investment Research lowered PepsiCo from a “hold” rating to a “sell” rating in a research note on Wednesday, September 7th. Jefferies Group reaffirmed a “buy” rating and issued a $119.00 price target on shares of PepsiCo in a research note on Wednesday, June 29th. Finally, Credit Suisse Group AG initiated coverage on PepsiCo in a research note on Thursday, September 15th. They issued an “outperform” rating and a $121.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $110.96.
The company has a 50-day moving average of $107.34 and a 200-day moving average of $104.79. The company has a market capitalization of $154.18 billion, a PE ratio of 30.27 and a beta of 0.48.
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PepsiCo (NYSE:PEP) last announced its earnings results on Thursday, July 7th. The company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. The firm had revenue of $15.40 billion for the quarter. PepsiCo had a return on equity of 54.91% and a net margin of 8.34%. PepsiCo’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.32 EPS. Equities analysts anticipate that PepsiCo Inc. will post $4.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 2nd will be paid a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Wednesday, August 31st. PepsiCo’s dividend payout ratio is presently 84.79%.
In other PepsiCo news, SVP Marie T. Gallagher sold 13,586 shares of the stock in a transaction on Monday, July 11th. The stock was sold at an average price of $109.01, for a total transaction of $1,481,009.86. Following the transaction, the senior vice president now owns 58,183 shares of the company’s stock, valued at approximately $6,342,528.83. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Albert P. Carey sold 170,003 shares of the stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $108.81, for a total value of $18,498,026.43. Following the transaction, the chief executive officer now directly owns 306,138 shares in the company, valued at approximately $33,310,875.78. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of PepsiCo by 2.3% in the second quarter. Vanguard Group Inc. now owns 100,515,744 shares of the company’s stock worth $10,648,637,000 after buying an additional 2,290,350 shares in the last quarter. State Street Corp raised its position in shares of PepsiCo by 1.5% in the first quarter. State Street Corp now owns 58,107,763 shares of the company’s stock worth $5,954,891,000 after buying an additional 860,005 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of PepsiCo by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 38,394,081 shares of the company’s stock worth $3,934,625,000 after buying an additional 320,953 shares in the last quarter. Wellington Management Group LLP raised its position in shares of PepsiCo by 40.9% in the first quarter. Wellington Management Group LLP now owns 21,691,078 shares of the company’s stock worth $2,222,902,000 after buying an additional 6,297,861 shares in the last quarter. Finally, BlackRock Fund Advisors raised its position in shares of PepsiCo by 2.4% in the second quarter. BlackRock Fund Advisors now owns 20,533,515 shares of the company’s stock worth $2,175,321,000 after buying an additional 475,487 shares in the last quarter. 69.81% of the stock is currently owned by institutional investors.
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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