Thrivent Financial for Lutherans Boosts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Thrivent Financial for Lutherans grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 21.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 690,410 shares of the company’s stock after purchasing an additional 120,471 shares during the quarter. Thrivent Financial for Lutherans’ holdings in PepsiCo were worth $76,297,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PEP. Highwater Wealth Management LLC bought a new stake in shares of PepsiCo in the fourth quarter valued at approximately $28,000. Horan Securities Inc. lifted its stake in PepsiCo by 460.0% during the fourth quarter. Horan Securities Inc. now owns 280 shares of the company’s stock worth $30,000 after purchasing an additional 230 shares during the last quarter. 1 North Wealth Services LLC bought a new stake in PepsiCo during the fourth quarter worth $39,000. Financial Gravity Companies Inc. bought a new stake in PepsiCo during the fourth quarter worth $41,000. Finally, Sound Income Strategies LLC lifted its stake in PepsiCo by 50.8% during the fourth quarter. Sound Income Strategies LLC now owns 597 shares of the company’s stock worth $66,000 after purchasing an additional 201 shares during the last quarter. 70.91% of the stock is currently owned by institutional investors.

Several research firms have weighed in on PEP. BidaskClub upgraded PepsiCo from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 7th. Wells Fargo & Co upped their target price on PepsiCo from $120.00 to $127.00 and gave the stock a “positive” rating in a research note on Tuesday, May 14th. ValuEngine upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Royal Bank of Canada set a $115.00 target price on PepsiCo and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Finally, Goldman Sachs Group set a $132.00 target price on PepsiCo and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $124.65.

In related news, EVP David Yawman sold 25,263 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $126.42, for a total value of $3,193,748.46. Following the completion of the sale, the executive vice president now directly owns 80,934 shares in the company, valued at $10,231,676.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Marie T. Gallagher sold 7,800 shares of the stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $125.99, for a total value of $982,722.00. Following the completion of the sale, the senior vice president now owns 55,665 shares of the company’s stock, valued at $7,013,233.35. The disclosure for this sale can be found here. Insiders have sold 48,494 shares of company stock valued at $6,173,705 over the last quarter. Company insiders own 0.28% of the company’s stock.

Shares of NASDAQ:PEP traded down $0.15 during trading on Friday, hitting $132.79. 98,557 shares of the company were exchanged, compared to its average volume of 4,143,204. The company has a market capitalization of $186.64 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 3.46 and a beta of 0.62. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.75 and a current ratio of 0.94. PepsiCo, Inc. has a 1-year low of $104.43 and a 1-year high of $134.71.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Wednesday, April 17th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.05. The company had revenue of $12.88 billion during the quarter, compared to the consensus estimate of $12.68 billion. PepsiCo had a net margin of 19.37% and a return on equity of 65.12%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 earnings per share. On average, equities analysts forecast that PepsiCo, Inc. will post 5.51 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.955 per share. The ex-dividend date of this dividend is Thursday, June 6th. This is an increase from PepsiCo’s previous quarterly dividend of $0.93. This represents a $3.82 annualized dividend and a dividend yield of 2.88%. PepsiCo’s dividend payout ratio is 67.49%.

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About PepsiCo

PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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