Horizon Wealth Management LLC Has $303,000 Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Horizon Wealth Management LLC boosted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 4.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,729 shares of the company’s stock after purchasing an additional 74 shares during the period. Horizon Wealth Management LLC’s holdings in PepsiCo were worth $303,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PEP. Norges Bank bought a new position in PepsiCo in the 4th quarter valued at approximately $2,686,139,000. International Assets Investment Management LLC raised its stake in shares of PepsiCo by 9,623.6% during the fourth quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock valued at $519,381,000 after acquiring an additional 3,026,611 shares during the last quarter. Flossbach Von Storch AG raised its stake in shares of PepsiCo by 121.4% during the fourth quarter. Flossbach Von Storch AG now owns 2,727,622 shares of the company’s stock valued at $463,259,000 after acquiring an additional 1,495,586 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of PepsiCo by 17.9% during the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after acquiring an additional 1,470,064 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of PepsiCo by 17.7% during the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock valued at $1,520,909,000 after acquiring an additional 1,345,065 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PEP. JPMorgan Chase & Co. raised their price target on shares of PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a research note on Wednesday, June 26th. BNP Paribas assumed coverage on shares of PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 price target for the company. Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Barclays lowered their target price on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, June 12th. Finally, Jefferies Financial Group lifted their target price on shares of PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $186.38.

Insider Activity

In other news, CEO Ramkumar Krishnan sold 5,620 shares of PepsiCo stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the transaction, the chief executive officer now directly owns 53,953 shares in the company, valued at $9,603,634. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.14% of the company’s stock.

PepsiCo Trading Down 1.2 %

NASDAQ:PEP opened at $162.89 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $223.94 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 2.71 and a beta of 0.52. The firm has a fifty day simple moving average of $173.37 and a two-hundred day simple moving average of $170.30. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $192.38.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. The business had revenue of $18.25 billion during the quarter, compared to analysts’ expectations of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the company posted $1.50 earnings per share. Analysts expect that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were issued a dividend of $1.355 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend was Friday, June 7th. PepsiCo’s dividend payout ratio (DPR) is currently 81.50%.

About PepsiCo

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.