PepsiCo shares climbed 2.4 per cent on Friday following insider buying activity, trading as high as $131.59 and last trading at $131.49, after previously closing at $128.38.
Specifically, Director Robert Pohlad bought 184,646 shares of the company's stock in a transaction on Wednesday, October 14, at an average price of $128.28 per share, for a total transaction of $23,686,388.88, according to a disclosure filed with the Securities and Exchange Commission.
Following the transaction, Pohlad owned 433,009 shares of the company's stock, valued at approximately $55,546,394.52. The trade was a 74.35 per cent increase in his position, the filing showed.
Volume also picked up: 10,654,753 shares traded hands during mid-day trading, an increase of 31 per cent from the average daily volume of 8,146,000 shares. This report covers a disclosed insider transaction and market reaction only, and is not a tip or advice to buy or sell any security.
