PepsiCo, Inc. (PEP) Shares Bought by Rockland Trust Co.
Rockland Trust Co. grew its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.7% in the 4th quarter, HoldingsChannel reports. The firm owned 145,893 shares of the company’s stock after buying an additional 3,876 shares during the quarter. PepsiCo comprises approximately 2.3% of Rockland Trust Co.’s holdings, making the stock its 9th largest holding. Rockland Trust Co.’s holdings in PepsiCo were worth $17,495,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. First National Bank of Mount Dora Trust Investment Services bought a new stake in shares of PepsiCo in the 4th quarter valued at about $201,000. White Lighthouse Investment Management Inc. bought a new stake in shares of PepsiCo in the 4th quarter valued at about $240,000. Pure Financial Advisors Inc. bought a new stake in shares of PepsiCo in the 4th quarter valued at about $295,000. First Citizens Bank & Trust Co. raised its holdings in shares of PepsiCo by 49.9% in the 4th quarter. First Citizens Bank & Trust Co. now owns 37,754 shares of the company’s stock valued at $4,527,000 after purchasing an additional 12,567 shares in the last quarter. Finally, Patriot Wealth Management Inc. raised its holdings in shares of PepsiCo by 1.5% in the 4th quarter. Patriot Wealth Management Inc. now owns 41,517 shares of the company’s stock valued at $4,979,000 after purchasing an additional 610 shares in the last quarter. Institutional investors and hedge funds own 70.62% of the company’s stock.
Several research firms have recently commented on PEP. BidaskClub lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Stifel Nicolaus reiterated a “hold” rating and set a $120.00 price objective on shares of PepsiCo in a research note on Friday, December 22nd. Jefferies Group reiterated a “hold” rating and set a $113.00 price objective on shares of PepsiCo in a research note on Tuesday, February 13th. SunTrust Banks reduced their price objective on shares of PepsiCo from $125.00 to $115.00 and set a “hold” rating for the company in a research note on Wednesday, February 14th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of PepsiCo from $127.00 to $124.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $123.04.
PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, February 13th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.01. The company had revenue of $19.53 billion for the quarter, compared to the consensus estimate of $19.40 billion. PepsiCo had a net margin of 7.65% and a return on equity of 61.14%. PepsiCo’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 EPS. equities analysts expect that PepsiCo, Inc. will post 5.69 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 2nd will be given a dividend of $0.805 per share. This represents a $3.22 annualized dividend and a yield of 2.95%. The ex-dividend date is Thursday, March 1st. PepsiCo’s dividend payout ratio is presently 63.26%.
PepsiCo announced that its board has authorized a stock repurchase program on Tuesday, February 13th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
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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