Investors Sell Shares of Pepsico, Inc. (PEP) on Strength Following Insider Selling
Investors sold shares of Pepsico, Inc. (NYSE:PEP) on strength during trading hours on Friday after an insider sold shares in the company. $56.36 million flowed into the stock on the tick-up and $103.54 million flowed out of the stock on the tick-down, for a money net flow of $47.18 million out of the stock. Of all stocks tracked, Pepsico had the 24th highest net out-flow for the day. Pepsico traded up $0.17 for the day and closed at $112.62Specifically, SVP Marie T. Gallagher sold 41,489 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $116.77, for a total transaction of $4,844,670.53. Following the transaction, the senior vice president now owns 76,037 shares of the company’s stock, valued at approximately $8,878,840.49. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Indra K. Nooyi sold 452,830 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $116.44, for a total value of $52,727,525.20. Following the transaction, the chairman now directly owns 733,315 shares in the company, valued at approximately $85,387,198.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 919,613 shares of company stock worth $106,956,258. 0.26% of the stock is currently owned by company insiders.
PEP has been the topic of a number of research analyst reports. Cowen and Company reaffirmed a “buy” rating on shares of Pepsico in a report on Sunday, September 17th. Credit Suisse Group downgraded Pepsico from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $126.00 to $124.00 in a report on Friday, September 8th. Zacks Investment Research cut Pepsico from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. Macquarie began coverage on Pepsico in a research report on Thursday, September 14th. They set an “outperform” rating and a $125.00 price target on the stock. Finally, BMO Capital Markets reiterated a “hold” rating and set a $120.00 price target on shares of Pepsico in a research report on Wednesday, September 6th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $121.80.
The company’s 50 day moving average is $113.36 and its 200-day moving average is $114.71. The firm has a market cap of $160.16 billion, a PE ratio of 23.27 and a beta of 0.68.
Pepsico (NYSE:PEP) last announced its earnings results on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.43 by $0.05. The business had revenue of $16.24 billion for the quarter, compared to the consensus estimate of $16.35 billion. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. Pepsico’s revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.40 EPS. On average, equities analysts anticipate that Pepsico, Inc. will post $5.23 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the stock. Barnett & Company Inc. raised its position in Pepsico by 270.4% in the 2nd quarter. Barnett & Company Inc. now owns 900 shares of the company’s stock worth $104,000 after purchasing an additional 657 shares during the last quarter. Aviance Capital Management LLC bought a new position in Pepsico in the 2nd quarter worth approximately $111,000. Asset Planning Services Ltd. raised its position in Pepsico by 0.3% in the 2nd quarter. Asset Planning Services Ltd. now owns 1,006 shares of the company’s stock worth $116,000 after purchasing an additional 3 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in Pepsico by 5.9% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,211 shares of the company’s stock worth $138,000 after purchasing an additional 67 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. raised its position in Pepsico by 14.9% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock worth $142,000 after purchasing an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 70.17% 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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