Pepsico Target of Unusually Large Options Trading (PEP)
Pepsico, Inc. (NYSE:PEP) was the recipient of some unusual options trading activity on Monday. Stock traders bought 5,616 put options on the stock. This is an increase of approximately 248% compared to the typical daily volume of 1,616 put options.
In related news, Chairman Indra K. Nooyi sold 452,830 shares of Pepsico stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $116.44, for a total value of $52,727,525.20. Following the completion of the sale, the chairman now owns 733,315 shares in the company, valued at approximately $85,387,198.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mehmood Khan sold 63,396 shares of Pepsico stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $116.39, for a total transaction of $7,378,660.44. Following the completion of the sale, the executive vice president now owns 174,273 shares of the company’s stock, valued at approximately $20,283,634.47. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 898,164 shares of company stock worth $104,585,929. Corporate insiders own 0.26% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PEP. Vanguard Group Inc. grew its holdings in Pepsico by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 112,083,751 shares of the company’s stock valued at $12,944,553,000 after purchasing an additional 2,635,738 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Pepsico by 910.5% during the 2nd quarter. Janus Henderson Group PLC now owns 2,907,923 shares of the company’s stock valued at $335,840,000 after purchasing an additional 2,620,149 shares in the last quarter. Sanders Capital LLC acquired a new stake in Pepsico during the 1st quarter valued at $254,277,000. Harbour Capital Advisors LLC grew its holdings in Pepsico by 11,316.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 2,183,685 shares of the company’s stock valued at $18,908,000 after purchasing an additional 2,164,557 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Pepsico by 92.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 3,317,230 shares of the company’s stock valued at $371,065,000 after purchasing an additional 1,593,550 shares in the last quarter. 70.06% of the stock is owned by institutional investors and hedge funds.
Several research firms recently weighed in on PEP. Zacks Investment Research downgraded shares of Pepsico from a “buy” rating to a “hold” rating in a report on Monday, September 4th. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $133.00 target price (down previously from $134.00) on shares of Pepsico in a report on Thursday, July 6th. BidaskClub upgraded shares of Pepsico from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. BMO Capital Markets reiterated a “hold” rating and issued a $120.00 target price on shares of Pepsico in a report on Wednesday, September 6th. Finally, Cowen and Company reiterated a “buy” rating on shares of Pepsico in a report on Sunday, September 17th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $121.87.
Pepsico (PEP) opened at 109.34 on Thursday. The firm has a market cap of $155.87 billion, a P/E ratio of 23.16 and a beta of 0.68. Pepsico has a 1-year low of $98.50 and a 1-year high of $119.39. The firm has a 50 day moving average of $114.58 and a 200 day moving average of $114.76.
Pepsico (NYSE:PEP) last issued its earnings results on Wednesday, September 27th. The company reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.05. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The business had revenue of $16.24 billion for the quarter, compared to the consensus estimate of $16.35 billion. During the same quarter last year, the firm posted $1.40 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities research analysts expect that Pepsico will post $5.16 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 1st were paid a $0.805 dividend. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date was Wednesday, August 30th. Pepsico’s dividend payout ratio is presently 68.22%.
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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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