PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 8.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 121,512 shares of the company’s stock after buying an additional 9,567 shares during the quarter. Thrivent Financial for Lutherans’ holdings in PepsiCo were worth $20,040,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Valued Wealth Advisors LLC lifted its stake in shares of PepsiCo by 77.5% in the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after acquiring an additional 69 shares in the last quarter. POM Investment Strategies LLC boosted its stake in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of PepsiCo during the second quarter worth approximately $30,000. Fortis Group Advisors LLC increased its stake in shares of PepsiCo by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after buying an additional 97 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in PepsiCo during the 1st quarter valued at $35,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $169.92 on Wednesday. The firm’s 50-day simple moving average is $173.78 and its 200 day simple moving average is $171.98. The stock has a market cap of $233.60 billion, a P/E ratio of 24.66, a P/E/G ratio of 3.06 and a beta of 0.53. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The business had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. During the same period last year, the firm posted $2.09 earnings per share. The business’s revenue was up .8% on a year-over-year basis. Equities analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a dividend of $1.355 per share. The ex-dividend date is Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.19%. PepsiCo’s dividend payout ratio is currently 78.66%.

Analyst Ratings Changes

PEP has been the topic of a number of recent analyst reports. TD Cowen cut their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a report on Friday, September 20th. BNP Paribas initiated coverage on PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target for the company. Royal Bank of Canada decreased their price objective on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Finally, JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $185.53.

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.