Rockland Trust Co. Increases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Rockland Trust Co. boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 284,617 shares of the company's stock after buying an additional 17,673 shares during the period. PepsiCo accounts for 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 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of PEP. State Street Corp boosted its holdings in shares of PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company's stock valued at $9,738,429,000 after buying an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC increased its stake in PepsiCo by 1.8% in the 3rd 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 during the period. Charles Schwab Investment Management Inc. raised its holdings in 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 purchasing an additional 1,125,059 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company's stock valued at $2,234,400,000 after buying an additional 905,468 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company's stock valued at $2,293,049,000 after purchasing an additional 2,264,445 shares during the period. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Stock Performance

PEP stock traded down $0.17 during midday trading on Wednesday, hitting $144.78. The company's stock had a trading volume of 7,140,398 shares, compared to its average volume of 7,299,303. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock has a market cap of $198.64 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 2.94 and a beta of 0.54. The stock's 50-day moving average price is $156.46 and its 200 day moving average price is $166.20. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo's dividend payout ratio (DPR) is currently 79.94%.

Analysts Set New Price Targets

A number of brokerages have commented on PEP. Barclays lowered their target price on PepsiCo from $186.00 to $183.00 and set an "overweight" rating on the stock in a report on Thursday, October 10th. Piper Sandler initiated coverage on PepsiCo in a report on Tuesday, January 7th. They set an "overweight" rating and a $171.00 target price for the company. TD Cowen decreased their target price on PepsiCo from $183.00 to $160.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. Bank of America dropped their target price on PepsiCo from $190.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of PepsiCo from a "hold" rating to a "buy" rating and upped their target price for the company from $179.00 to $184.00 in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $180.64.

PepsiCo Company 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.