Horizon Kinetics Asset Management LLC Purchases 367 Shares of PepsiCo, Inc. $PEP

Horizon Kinetics Asset Management LLC lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 16.1% during the second quarter, Holdings Channel.com reports. The firm owned 2,640 shares of the company’s stock after buying an additional 367 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in PepsiCo were worth $349,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nova Wealth Management Inc. bought a new position in PepsiCo during the first quarter worth about $25,000. Legend Financial Advisors Inc. acquired a new position in PepsiCo in the 2nd quarter valued at $29,000. Frazier Financial Advisors LLC lifted its position in shares of PepsiCo by 85.3% during the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after acquiring an additional 122 shares during the period. Investment Research & Advisory Group Inc. grew its holdings in shares of PepsiCo by 263.6% during the 2nd quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock worth $42,000 after purchasing an additional 232 shares in the last quarter. Finally, RMG Wealth Management LLC acquired a new position in PepsiCo in the second quarter valued at about $45,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PEP. Loop Capital set a $164.00 price objective on shares of PepsiCo in a research note on Thursday, October 23rd. Citigroup decreased their price objective on shares of PepsiCo from $168.00 to $165.00 and set a “buy” rating on the stock in a research note on Thursday, September 25th. BNP Paribas Exane cut their target price on PepsiCo from $152.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Evercore ISI upped their price objective on PepsiCo from $150.00 to $152.00 in a research report on Friday, October 10th. Finally, Jefferies Financial Group lifted their target price on PepsiCo from $161.00 to $163.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $156.90.

PepsiCo Stock Down 0.6%

Shares of NASDAQ PEP opened at $145.50 on Tuesday. The company has a 50 day simple moving average of $145.47 and a 200 day simple moving average of $140.69. The firm has a market cap of $198.95 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 3.56 and a beta of 0.45. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $165.13. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.03. The company had revenue of $23.94 billion for the quarter, compared to analysts’ expectations of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. PepsiCo’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.31 earnings per share. On average, research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be paid a $1.4225 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.9%. PepsiCo’s dividend payout ratio is presently 108.17%.

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.