PepsiCo, Inc. $PEP is Rockland Trust Co.'s 9th Largest Position

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. grew its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 8.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 338,308 shares of the company's stock after buying an additional 27,518 shares during the period. PepsiCo accounts for 2.2% of Rockland Trust Co.'s investment portfolio, making the stock its 9th largest holding. Rockland Trust Co.'s holdings in PepsiCo were worth $44,670,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of PEP. Nova Wealth Management Inc. purchased a new position in shares of PepsiCo in the 1st quarter valued at about $25,000. Elite Financial Inc. acquired a new position in PepsiCo during the first quarter valued at approximately $28,000. Sunbeam Capital Management LLC acquired a new position in shares of PepsiCo during the fourth quarter worth $47,000. MorganRosel Wealth Management LLC bought a new stake in shares of PepsiCo in the first quarter worth $55,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in PepsiCo during the first quarter valued at $58,000. Institutional investors and hedge funds own 73.07% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of PepsiCo in a report on Thursday, July 17th. JPMorgan Chase & Co. reduced their price objective on PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research report on Thursday, July 10th. Morgan Stanley lifted their price objective on PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Royal Bank Of Canada decreased their target price on PepsiCo from $146.00 to $145.00 and set a "sector perform" rating for the company in a research report on Monday, September 15th. Finally, Wells Fargo & Company lifted their price objective on PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a report 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 has a consensus rating of "Hold" and a consensus target price of $158.60.

PepsiCo Trading Up 0.7%

Shares of PEP stock traded up $1.03 on Friday, hitting $141.76. The company had a trading volume of 12,355,480 shares, compared to its average volume of 7,696,786. The firm has a market cap of $194.08 billion, a P/E ratio of 25.82, a P/E/G ratio of 3.58 and a beta of 0.46. The stock's 50-day moving average is $144.39 and its two-hundred day moving average is $140.07. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $177.50.

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

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a yield of 4.0%. PepsiCo's dividend payout ratio is presently 103.64%.

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.