David Trone of Maryland makes significant trades in Pepsico and US Treasury Bills

EditorLina Guerrero
Published 05/16/2024, 07:53 PM
© Reuters.

David Trone, the congressional representative for Maryland's 6th district, has made several noteworthy financial transactions, according to a recent congressional trade report. These transactions encompass both corporate stocks and government securities, with Pepsico , Inc. (NASDAQ:PEP) and US Treasury Bills among the assets involved.

In November 2023, Trone sold off a portion of his Pepsico stocks valued between $50,001 and $100,000. The stocks were held in an Insurance Trust, a popular investment vehicle for individuals looking to combine estate planning with investment management.

The bulk of Trone's transactions, however, were focused on US Treasury Bills, a type of short-term government security. Throughout 2023, the congressman made multiple purchases and sales of these assets, all within his JP Morgan Investment Account. The values of these transactions ranged significantly, with some as low as $250,001 and others as high as $5,000,000.

For example, on August 2nd, 2023, Trone purchased US Treasury Bills due in January 2024, valued between $1,000,001 and $5,000,000. He repeated this transaction on September 13th, 2023, with a similar value range. However, on November 2nd, 2023, he sold off a portion of these assets, again valued between $1,000,001 and $5,000,000.

Trone's transactions with US Treasury Bills due in February 2024 followed a similar pattern. He made two significant purchases in August and September 2023, each valued between $1,000,001 and $5,000,000. However, he sold off a portion of these assets in October 2023, again within the same value range.

InvestingPro Insights

Amidst the financial maneuvers of Congressman Trone, Pepsico, Inc. (NASDAQ:PEP) has been demonstrating robust financial health, as reflected by its latest metrics and analyst insights. The company's market capitalization stands impressively at $251.74 billion, showcasing its significant presence in the market. Investors are particularly taking note of Pepsico's P/E ratio, which is currently at 27.27, indicating a valuation that could be attractive when juxtaposed with the company's growth prospects. Adjusted figures for the last twelve months as of Q1 2024 show a P/E ratio of 24.37, which suggests a potential undervaluation relative to near-term earnings growth.

One of the standout InvestingPro Tips for Pepsico is its consistent history of dividend growth, having raised its dividend for an impressive 54 consecutive years. This speaks volumes about the company's commitment to returning value to shareholders and its financial stability. Moreover, Pepsico's gross profit margins remain impressive, with the last twelve months as of Q1 2024 showing a gross profit of $49.75 billion and a margin of 54.15%. This indicates the company's effectiveness in managing its cost of goods sold and its strong position within the Beverages industry.

Investors looking for additional insights on Pepsico can find more InvestingPro Tips, such as the company's liquidity position and debt management, by visiting https://www.investing.com/pro/PEP. There are currently over 10 additional tips available, providing a deeper dive into the company's financial nuances. For those interested in an InvestingPro subscription, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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