Traders Buy Shares of Pepsico, Inc. (PEP) on Weakness

Investors purchased shares of Pepsico, Inc. (NYSE:PEP) on weakness during trading hours on Wednesday. $91.95 million flowed into the stock on the tick-up and $62.34 million flowed out of the stock on the tick-down, for a money net flow of $29.61 million into the stock. Of all companies tracked, Pepsico had the 9th highest net in-flow for the day. Pepsico traded down ($0.10) for the day and closed at $110.13

A number of equities research analysts have issued reports on PEP shares. Zacks Investment Research upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a report on Tuesday, August 22nd. Credit Suisse Group downgraded shares of Pepsico from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $126.00 to $124.00 in a research report on Friday, September 8th. Jefferies Group LLC downgraded shares of Pepsico from a “buy” rating to a “hold” rating and dropped their price objective for the company from $133.00 to $108.00 in a research report on Monday, October 2nd. BidaskClub raised shares of Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $115.00 price objective 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 given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $121.35.

Pepsico (NYSE:PEP) last posted its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.05. The firm had revenue of $16.24 billion for the quarter, compared to analysts’ expectations of $16.35 billion. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.40 earnings per share.

In related news, insider Ramon Laguarta sold 21,449 shares of the company’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 legal filing with the SEC, which can be accessed through this link. Also, SVP Marie T. Gallagher sold 41,489 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $116.77, for a total transaction of $4,844,670.53. Following the completion of the sale, the senior vice president now directly owns 76,037 shares in the company, valued at $8,878,840.49. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Barnett & Company Inc. increased its stake in Pepsico by 270.4% during the second quarter. Barnett & Company Inc. now owns 900 shares of the company’s stock valued at $104,000 after purchasing an additional 657 shares during the last quarter. Aviance Capital Management LLC bought a new stake in Pepsico during the second quarter valued at $111,000. Legacy Advisors LLC bought a new stake in Pepsico during the third quarter valued at $115,000. Asset Planning Services Ltd. increased its stake in Pepsico by 0.3% during the second quarter. Asset Planning Services Ltd. now owns 1,006 shares of the company’s stock valued at $116,000 after purchasing an additional 3 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its stake 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 valued at $138,000 after purchasing an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 70.53% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Traders Buy Shares of Pepsico, Inc. (PEP) on Weakness” was reported by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this story on another website, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this story can be viewed at https://sportsperspectives.com/2017/11/01/traders-buy-shares-of-pepsico-inc-pep-on-weakness.html.

About Pepsico

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).

Receive News & Ratings for Pepsico Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pepsico Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply