PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,313 shares of the company’s stock after buying an additional 118 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in PepsiCo were worth $393,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Global Wealth Strategies & Associates boosted its holdings in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the period. Highline Wealth Partners LLC acquired a new position in shares of PepsiCo during the third quarter worth about $28,000. POM Investment Strategies LLC increased its stake in shares of PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares during the period. Summit Securities Group LLC acquired a new stake in PepsiCo in the second quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. lifted its stake in PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PEP. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Royal Bank of Canada decreased their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Barclays cut their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Up 0.6 %

PEP opened at $163.05 on Tuesday. The business has a 50 day moving average price of $168.73 and a two-hundred day moving average price of $170.78. PepsiCo, Inc. has a 52 week low of $155.85 and a 52 week high of $183.41. The company has a market cap of $223.70 billion, a PE ratio of 24.05, a P/E/G ratio of 3.02 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. The firm had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the company earned $2.25 earnings per share. As a group, research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be given a $1.355 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.32%. PepsiCo’s payout ratio is currently 79.94%.

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.