Rockland Trust Co. Buys 8,839 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Rockland Trust Co. boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 204,180 shares of the company’s stock after purchasing an additional 8,839 shares during the quarter. PepsiCo comprises approximately 2.6% of Rockland Trust Co.’s holdings, 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 quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PEP. Lord Abbett & CO. LLC boosted its stake in shares of PepsiCo by 11.3% during the 4th quarter. Lord Abbett & CO. LLC now owns 775,409 shares of the company’s stock worth $85,667,000 after acquiring an additional 78,950 shares in the last quarter. Signet Financial Management LLC boosted its stake in shares of PepsiCo by 3.7% during the 4th quarter. Signet Financial Management LLC now owns 2,827 shares of the company’s stock worth $312,000 after acquiring an additional 100 shares in the last quarter. Semmax Financial Advisors Inc. purchased a new stake in shares of PepsiCo during the 4th quarter worth about $273,000. Nomura Holdings Inc. boosted its stake in shares of PepsiCo by 43.9% during the 4th quarter. Nomura Holdings Inc. now owns 212,755 shares of the company’s stock worth $23,539,000 after acquiring an additional 64,938 shares in the last quarter. Finally, Foresters Investment Management Company Inc. boosted its stake in shares of PepsiCo by 5.1% during the 4th quarter. Foresters Investment Management Company Inc. now owns 417,820 shares of the company’s stock worth $46,161,000 after acquiring an additional 20,150 shares in the last quarter. 71.46% of the stock is currently owned by institutional investors.

PEP has been the topic of several recent analyst reports. BMO Capital Markets reissued a “market perform” rating and set a $133.00 target price (up from $128.00) on shares of PepsiCo in a research note on Friday, October 4th. JPMorgan Chase & Co. set a $154.00 target price on shares of PepsiCo and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Credit Suisse Group increased their target price on shares of PepsiCo from $117.00 to $126.00 and gave the stock an “underperform” rating in a research note on Friday, October 4th. Argus reissued a “buy” rating on shares of PepsiCo in a research note on Thursday, July 11th. Finally, Cowen increased their target price on shares of PepsiCo from $142.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. PepsiCo has a consensus rating of “Hold” and an average price target of $135.53.

PepsiCo stock traded down $0.18 during midday trading on Friday, reaching $137.71. The company had a trading volume of 597,724 shares, compared to its average volume of 4,508,839. The company has a market capitalization of $191.37 billion, a P/E ratio of 24.33, a P/E/G ratio of 3.57 and a beta of 0.56. PepsiCo, Inc. has a 12-month low of $104.53 and a 12-month high of $140.45. The firm’s fifty day simple moving average is $135.89 and its 200-day simple moving average is $130.57. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.95 and a quick ratio of 0.77.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Thursday, October 3rd. The company reported $1.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.06. The firm had revenue of $17.19 billion for the quarter, compared to analyst estimates of $16.93 billion. PepsiCo had a net margin of 18.78% and a return on equity of 55.00%. PepsiCo’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company posted $1.59 EPS. On average, analysts expect that PepsiCo, Inc. will post 5.5 EPS for the current fiscal year.

In related news, CEO Kirk Tanner sold 9,573 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $128.15, for a total value of $1,226,779.95. Following the transaction, the chief executive officer now directly owns 105,350 shares of the company’s stock, valued at approximately $13,500,602.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.28% of the company’s stock.

PepsiCo Company Profile

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.

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Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP).

Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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