Pepsico, Inc. (PEP) EVP Sells $7,378,660.44 in Stock
Pepsico, Inc. (NYSE:PEP) EVP Mehmood Khan sold 63,396 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $116.39, for a total value of $7,378,660.44. Following the sale, the executive vice president now owns 174,273 shares of the company’s stock, valued at approximately $20,283,634.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Pepsico, Inc. (PEP) traded up 0.64% during mid-day trading on Wednesday, hitting $117.19. The stock had a trading volume of 3,305,595 shares. The firm has a market cap of $167.06 billion, a PE ratio of 24.82 and a beta of 0.67. The stock’s 50-day moving average is $115.97 and its 200 day moving average is $111.74. Pepsico, Inc. has a 12 month low of $98.50 and a 12 month high of $118.24.
Pepsico (NYSE:PEP) last issued its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.10. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The business had revenue of $15.71 billion for the quarter, compared to analyst estimates of $15.57 billion. During the same period in the previous year, the business posted $1.35 earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year. Equities research analysts predict that Pepsico, Inc. will post $5.16 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.805 per share. The ex-dividend date is Wednesday, August 30th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.75%. Pepsico’s dividend payout ratio (DPR) is 68.22%.
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A number of research firms have weighed in on PEP. Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a report on Friday, July 14th. Cowen and Company restated an “outperform” rating and set a $128.00 target price on shares of Pepsico in a report on Thursday, July 13th. Jefferies Group LLC restated a “buy” rating and set a $133.00 target price (up previously from $130.00) on shares of Pepsico in a report on Wednesday, July 12th. Credit Suisse Group upped their target price on Pepsico from $124.00 to $126.00 and gave the stock an “outperform” rating in a report on Wednesday, July 12th. Finally, J P Morgan Chase & Co restated an “overweight” rating on shares of Pepsico in a report on Wednesday, July 12th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $123.04.
Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new position in shares of Pepsico during the fourth quarter worth approximately $1,492,411,000. Asset Management One Co. Ltd. boosted its stake in shares of Pepsico by 692.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,564,260 shares of the company’s stock worth $268,372,000 after buying an additional 2,240,572 shares during the period. Sanders Capital LLC bought a new stake in shares of Pepsico during the first quarter worth about $254,277,000. Fiera Capital Corp boosted its stake in shares of Pepsico by 217.7% in the fourth quarter. Fiera Capital Corp now owns 2,417,934 shares of the company’s stock worth $252,989,000 after buying an additional 1,656,939 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Pepsico by 92.5% in the first quarter. Canada Pension Plan Investment Board now owns 3,317,230 shares of the company’s stock worth $371,065,000 after buying an additional 1,593,550 shares during the period. Institutional investors and hedge funds own 70.45% of the company’s stock.
Pepsico Company Profile
PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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