Rockland Trust Co. Has $43.28 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Rockland Trust Co. grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 6.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 284,617 shares of the company’s stock after acquiring an additional 17,673 shares during the period. PepsiCo makes up 2.2% of Rockland Trust Co.’s investment portfolio, making the stock its 9th largest position. Rockland Trust Co.’s holdings in PepsiCo were worth $43,279,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PEP. State Street Corp raised its position in shares of PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after purchasing an additional 2,775,679 shares during the period. Geode Capital Management LLC lifted its stake in PepsiCo by 1.8% in the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after buying an additional 543,558 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of PepsiCo by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after acquiring an additional 1,125,059 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after acquiring an additional 905,468 shares during the period. Finally, Franklin Resources Inc. lifted its position in PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after acquiring an additional 2,264,445 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 0.3 %

Shares of NASDAQ:PEP opened at $144.95 on Wednesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The company has a market capitalization of $198.87 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. The company has a fifty day moving average of $156.46 and a 200-day moving average of $166.20.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.74%. PepsiCo’s dividend payout ratio is presently 79.94%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Piper Sandler began coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company decreased their target price on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $180.64.

PepsiCo Profile

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.