Traders Buy Shares of Pepsico (PEP) on Weakness
Traders purchased shares of Pepsico, Inc. (NYSE:PEP) on weakness during trading hours on Friday. $87.17 million flowed into the stock on the tick-up and $59.30 million flowed out of the stock on the tick-down, for a money net flow of $27.87 million into the stock. Of all companies tracked, Pepsico had the 15th highest net in-flow for the day. Pepsico traded down ($0.16) for the day and closed at $116.57
Several equities research analysts recently weighed in on PEP shares. Cowen reiterated a “buy” rating on shares of Pepsico in a research note on Sunday, September 17th. Zacks Investment Research upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research report on Tuesday, August 22nd. BidaskClub upgraded shares of Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Susquehanna Bancshares restated a “buy” rating and issued a $135.00 target price on shares of Pepsico in a research report on Monday, October 2nd. Finally, Deutsche Bank reiterated a “buy” rating and issued a $122.00 price objective (down from $125.00) on shares of Pepsico in a report on Friday, October 6th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $121.96.
The company has a debt-to-equity ratio of 2.32, a current ratio of 1.35 and a quick ratio of 1.21. The company has a market capitalization of $165,779.20, a PE ratio of 22.77, a PEG ratio of 3.17 and a beta of 0.68.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 8th. Investors of record on Friday, December 1st will be paid a $0.805 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $3.22 dividend on an annualized basis and a yield of 2.76%. Pepsico’s payout ratio is presently 66.53%.
In related news, insider Ramon Laguarta sold 21,449 shares of the firm’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total value of $2,370,328.99. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.26% of the company’s stock.
Several large investors have recently modified their holdings of PEP. Barnett & Company Inc. lifted its position in shares of Pepsico by 270.4% in the second quarter. Barnett & Company Inc. now owns 900 shares of the company’s stock worth $104,000 after purchasing an additional 657 shares in the last quarter. Aviance Capital Management LLC bought a new stake in shares of Pepsico in the second quarter worth $111,000. Legacy Advisors LLC bought a new stake in Pepsico during the third quarter worth $115,000. Asset Planning Services Ltd. raised its position in Pepsico by 0.3% during the second quarter. Asset Planning Services Ltd. now owns 1,006 shares of the company’s stock worth $116,000 after acquiring an additional 3 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its position in Pepsico by 5.9% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,211 shares of the company’s stock worth $138,000 after acquiring an additional 67 shares in the last quarter. Institutional investors own 70.50% of the company’s stock.
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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