PepsiCo, Inc. (NASDAQ:PEP) Stock Holdings Cut by Horizon Wealth Management LLC

Horizon Wealth Management LLC reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 4.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,370 shares of the company’s stock after selling 66 shares during the quarter. Horizon Wealth Management LLC’s holdings in PepsiCo were worth $233,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PEP. Valued Wealth Advisors LLC boosted its position in PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after acquiring an additional 69 shares during the period. Global Wealth Strategies & Associates lifted its position in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares in the last quarter. POM Investment Strategies LLC grew its position in PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo in the 2nd quarter valued at approximately $30,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of PepsiCo during the 1st quarter valued at $35,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Down 0.8 %

Shares of PEP opened at $174.48 on Thursday. PepsiCo, Inc. has a 52 week low of $158.03 and a 52 week high of $183.41. The firm has a market capitalization of $239.87 billion, a P/E ratio of 25.32, a P/E/G ratio of 3.11 and a beta of 0.53. The company has a 50-day simple moving average of $173.68 and a 200-day simple moving average of $172.10. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.64 and a current ratio of 0.89.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data 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 company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. PepsiCo’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.25 EPS. On average, equities research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date was Friday, September 6th. PepsiCo’s dividend payout ratio is 78.66%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PEP. 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. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Barclays decreased their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, PepsiCo presently has an average rating of “Hold” and an average price target of $183.92.

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.