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.
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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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