Cullinan Associates Inc buys $15,513,079 stake in PepsiCo (PEP)

PepsiCo (PEP) : Cullinan Associates Inc scooped up 8,087 additional shares in PepsiCo during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 3, 2016. The investment management firm now holds a total of 146,336 shares of PepsiCo which is valued at $15,513,079.PepsiCo makes up approximately 1.34% of Cullinan Associates Inc’s portfolio.

Other Hedge Funds, Including , Lvm Capital Management Ltdmi boosted its stake in PEP in the latest quarter, The investment management firm added 1,694 additional shares and now holds a total of 16,934 shares of PepsiCo which is valued at $1,795,173. PepsiCo makes up approx 0.57% of Lvm Capital Management Ltdmi’s portfolio.

PepsiCo closed down -1.15 points or -1.06% at $107.1 with 58,30,099 shares getting traded on Tuesday. Post opening the session at $108.31, the shares hit an intraday low of $106.58 and an intraday high of $108.37 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, PepsiCo reported $1.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Sep 29, 2016. Analyst had a consensus of $1.32. The company had revenue of $16027.00 million for the quarter, compared to analysts expectations of $15865.42 million. The company’s revenue was down -1.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.35 EPS.

Many Wall Street Analysts have commented on PepsiCo. Shares were Reiterated by Jefferies on Sep 30, 2016 to “Buy” and Lowered the Price Target to $ 122 from a previous price target of $124 .Credit Suisse Initiated PepsiCo on Sep 16, 2016 to “Outperform”, Price Target of the shares are set at $121.Company shares were Reiterated by UBS on Jul 8, 2016 to “Buy”, Firm has raised the Price Target to $ 119 from a previous price target of $113 .

PepsiCo Inc. (PepsiCo) is a global food and beverage company. The Company operates through six segments: Frito-Lay North America (FLNA) Quaker Foods North America (QFNA) Latin America Foods (LAF) which includes its food and snack businesses in Latin America; PepsiCo Americas Beverages (PAB) which includes its North American and Latin American beverage businesses; PepsiCo Europe (Europe) which includes beverage food and snack businesses in Europe and South Africa and PepsiCo Asia Middle East and Africa (AMEA) which includes beverage food and snack businesses in AMEA excluding South Africa. Through its operations bottlers contract manufacturers and other third-parties the Company manufactures markets distributes and sells a variety of beverages foods and snacks serving customers and consumers in more than 200 countries and territories.

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