Thrivent Financial for Lutherans trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 10.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 108,653 shares of the company's stock after selling 12,859 shares during the quarter. Thrivent Financial for Lutherans' holdings in PepsiCo were worth $18,477,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Global Wealth Strategies & Associates lifted its holdings in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company's stock worth $27,000 after acquiring an additional 59 shares during the period. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo during the 3rd quarter worth $28,000. POM Investment Strategies LLC boosted its holdings in PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company's stock valued at $30,000 after acquiring an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new stake in PepsiCo during the second quarter worth about $30,000. Finally, Mattson Financial Services LLC purchased a new position in shares of PepsiCo in the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 73.07% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. TD Cowen cut shares of PepsiCo from a "buy" rating to a "hold" rating and reduced their price target for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price target on PepsiCo from $185.00 to $183.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. Bank of America reduced their price objective on PepsiCo from $190.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, September 30th. Redburn Atlantic upgraded PepsiCo to a "strong sell" rating in a report on Thursday, October 10th. Finally, StockNews.com upgraded PepsiCo from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, PepsiCo currently has an average rating of "Hold" and a consensus target price of $183.92.
View Our Latest Research Report on PEP
PepsiCo Stock Up 1.0 %
Shares of PEP traded up $1.55 during midday trading on Thursday, hitting $160.29. The company had a trading volume of 2,975,554 shares, compared to its average volume of 5,484,225. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 52 week low of $155.85 and a 52 week high of $183.41. The company's 50 day moving average price is $169.32 and its 200 day moving average price is $171.08. The stock has a market cap of $219.92 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 2.92 and a beta of 0.53.
PepsiCo (NASDAQ:PEP - Get Free Report) last released its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. PepsiCo's quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business posted $2.25 EPS. On average, equities research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.
PepsiCo Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo's dividend payout ratio is presently 79.94%.
About PepsiCo
(
Free Report)
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.
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