Rockland Trust Co. Raises Position in PepsiCo, Inc. (NASDAQ:PEP)

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Rockland Trust Co. lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 204,180 shares of the company’s stock after purchasing an additional 8,839 shares during the quarter. PepsiCo comprises about 2.6% of Rockland Trust Co.’s investment portfolio, making the stock its 4th biggest position. Rockland Trust Co.’s holdings in PepsiCo were worth $28,162,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. West Oak Capital LLC increased its stake in PepsiCo by 0.5% during the third quarter. West Oak Capital LLC now owns 15,230 shares of the company’s stock worth $2,088,000 after acquiring an additional 75 shares during the last quarter. Stillwater Investment Management LLC increased its stake in PepsiCo by 0.5% during the third quarter. Stillwater Investment Management LLC now owns 15,219 shares of the company’s stock worth $2,086,000 after acquiring an additional 79 shares during the last quarter. Stuart Chaussee & Associates Inc. increased its stake in PepsiCo by 18.8% during the second quarter. Stuart Chaussee & Associates Inc. now owns 505 shares of the company’s stock worth $66,000 after acquiring an additional 80 shares during the last quarter. Sigma Investment Counselors Inc. increased its stake in PepsiCo by 2.5% during the second quarter. Sigma Investment Counselors Inc. now owns 3,415 shares of the company’s stock worth $448,000 after acquiring an additional 82 shares during the last quarter. Finally, Alera Investment Advisors LLC increased its stake in PepsiCo by 3.5% during the second quarter. Alera Investment Advisors LLC now owns 2,471 shares of the company’s stock worth $324,000 after acquiring an additional 84 shares during the last quarter. 71.46% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ PEP traded down $0.18 during trading hours on Friday, reaching $137.71. The stock had a trading volume of 597,724 shares, compared to its average volume of 4,508,839. The company has a current ratio of 0.95, a quick ratio of 0.77 and a debt-to-equity ratio of 2.08. The firm has a market cap of $191.37 billion, a price-to-earnings ratio of 24.33, a P/E/G ratio of 3.57 and a beta of 0.56. The business’s fifty day moving average price is $135.89 and its two-hundred day moving average price is $130.57. PepsiCo, Inc. has a 52-week low of $104.53 and a 52-week high of $140.45.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.06. The firm had revenue of $17.19 billion during the quarter, compared to analyst estimates of $16.93 billion. PepsiCo had a return on equity of 55.00% and a net margin of 18.78%. PepsiCo’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.59 earnings per share. Equities research analysts anticipate that PepsiCo, Inc. will post 5.5 earnings per share for the current fiscal year.

PEP has been the subject of several recent analyst reports. JPMorgan Chase & Co. set a $154.00 target price on PepsiCo and gave the company a “buy” rating in a research report on Thursday, October 3rd. Credit Suisse Group boosted their target price on PepsiCo from $117.00 to $126.00 and gave the company an “underperform” rating in a research report on Friday, October 4th. BidaskClub upgraded PepsiCo from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. Morgan Stanley boosted their target price on PepsiCo from $149.00 to $154.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Finally, SunTrust Banks restated a “hold” rating and set a $125.00 target price on shares of PepsiCo in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $135.53.

In related news, CEO Kirk Tanner sold 9,573 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $128.15, for a total value of $1,226,779.95. Following the completion of the sale, the chief executive officer now owns 105,350 shares in the company, valued at $13,500,602.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.28% of the stock is currently owned by insiders.

About PepsiCo

PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.

Recommended Story: Compound Annual Growth Rate (CAGR)

Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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