Rockland Trust Co. Has $44.67 Million Stake in PepsiCo, Inc. $PEP

Key Points

• Rockland Trust Co. increased its stake in PepsiCo, Inc. by 8.9% during Q2, holding 338,308 shares valued at $44.67 million.
• PepsiCo's recent quarterly earnings exceeded expectations, with an EPS of $2.12, surpassing the consensus estimate of $2.03, as revenue grew to $22.73 billion.
• The company announced a quarterly dividend of $1.4225 per share, reflecting an annualized yield of 4.0% and a payout ratio of 103.64%.

Rockland Trust Co. boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 8.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 338,308 shares of the company's stock after purchasing an additional 27,518 shares during the quarter. PepsiCo accounts for about 2.2% of Rockland Trust Co.'s investment portfolio, making the stock its 9th biggest holding. Rockland Trust Co.'s holdings in PepsiCo were worth $44,670,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PEP. Brighton Jones LLC grew its holdings in PepsiCo by 12.4% during the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock valued at $9,031,000 after purchasing an additional 6,574 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in shares of PepsiCo by 2.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock valued at $71,527,000 after buying an additional 11,538 shares during the period. Twinbeech Capital LP acquired a new position in shares of PepsiCo in the fourth quarter valued at approximately $1,733,000. Woodline Partners LP acquired a new position in shares of PepsiCo in the fourth quarter valued at approximately $9,716,000. Finally, Voloridge Investment Management LLC acquired a new position in shares of PepsiCo in the fourth quarter valued at approximately $22,189,000. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Price Performance

PepsiCo stock traded up $1.03 during mid-day trading on Friday, reaching $141.76. The company had a trading volume of 12,355,480 shares, compared to its average volume of 7,696,786. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $177.50. The company has a market cap of $194.08 billion, a P/E ratio of 25.82, a P/E/G ratio of 3.56 and a beta of 0.46. The business has a fifty day simple moving average of $144.39 and a 200 day simple moving average of $140.16.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. The business had revenue of $22.73 billion during the quarter, compared to analyst estimates of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The firm's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned $2.28 EPS. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. On average, equities research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo's dividend payout ratio (DPR) is currently 103.64%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PEP shares. Citigroup upped their price target on shares of PepsiCo from $160.00 to $168.00 and gave the company a "buy" rating in a report on Friday, July 18th. JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research report on Thursday, July 10th. Morgan Stanley upped their price target on shares of PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Bank of America decreased their price objective on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, July 11th. Finally, Wells Fargo & Company upped their price target on shares of PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $158.60.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.