Rockland Trust Co. trimmed its holdings in Pepsico, Inc. (NYSE:PEP) by 4.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 139,835 shares of the company’s stock after selling 6,138 shares during the period. Pepsico comprises about 2.5% of Rockland Trust Co.’s holdings, making the stock its 8th largest position. Rockland Trust Co.’s holdings in Pepsico were worth $16,150,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in PEP. Accurate Investment Solutions Inc. lifted its position in shares of Pepsico by 0.3% during the second quarter. Accurate Investment Solutions Inc. now owns 1,851 shares of the company’s stock valued at $214,000 after purchasing an additional 5 shares in the last quarter. Northwest Wealth Management LLC lifted its position in shares of Pepsico by 0.4% during the second quarter. Northwest Wealth Management LLC now owns 2,511 shares of the company’s stock valued at $290,000 after purchasing an additional 11 shares in the last quarter. Willingdon Wealth Management lifted its position in shares of Pepsico by 0.3% during the first quarter. Willingdon Wealth Management now owns 6,381 shares of the company’s stock valued at $714,000 after purchasing an additional 16 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in shares of Pepsico by 0.7% during the first quarter. SRS Capital Advisors Inc. now owns 2,710 shares of the company’s stock valued at $303,000 after purchasing an additional 20 shares in the last quarter. Finally, Alexandria Capital LLC lifted its position in shares of Pepsico by 0.5% during the first quarter. Alexandria Capital LLC now owns 4,160 shares of the company’s stock valued at $465,000 after purchasing an additional 21 shares in the last quarter. 70.53% of the stock is currently owned by hedge funds and other institutional investors.
Pepsico, Inc. (PEP) opened at $110.22 on Monday. The firm has a market cap of $156,748.59, a PE ratio of 21.53, a PEG ratio of 3.00 and a beta of 0.66. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.35 and a quick ratio of 1.21. Pepsico, Inc. has a 12 month low of $98.50 and a 12 month high of $119.39.
Pepsico (NYSE:PEP) last posted its earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.05. The firm had revenue of $16.24 billion during the quarter, compared to the consensus estimate of $16.35 billion. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The company’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $1.40 earnings per share. equities research analysts expect that Pepsico, Inc. will post 5.22 EPS for the current fiscal year.
In other news, insider Ramon Laguarta sold 21,449 shares of Pepsico stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total value of $2,370,328.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by company insiders.
A number of research analysts recently weighed in on PEP shares. Jefferies Group LLC reissued a “buy” rating and set a $133.00 price target (up from $130.00) on shares of Pepsico in a research report on Wednesday, July 12th. Zacks Investment Research upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $129.00 price objective for the company in a report on Friday, July 14th. BidaskClub upgraded shares of Pepsico from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Cowen and Company restated a “buy” rating on shares of Pepsico in a report on Sunday, September 17th. Finally, Susquehanna Bancshares Inc restated a “buy” rating and set a $135.00 price objective on shares of Pepsico in a report on Monday, October 2nd. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $121.35.
PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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