Cypress Asset Management Inctx Lowers stake in PepsiCo (PEP)

PepsiCo (PEP) : Cypress Asset Management Inctx reduced its stake in PepsiCo by 3.46% during the most recent quarter end. The investment management company now holds a total of 137,080 shares of PepsiCo which is valued at $14,930,754 after selling 4,913 shares in PepsiCo , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.PepsiCo makes up approximately 2.90% of Cypress Asset Management Inctx’s portfolio.

Other Hedge Funds, Including , D. Scott Neal boosted its stake in PEP in the latest quarter, The investment management firm added 71 additional shares and now holds a total of 944 shares of PepsiCo which is valued at $102,820. PepsiCo makes up approx 0.09% of D. Scott Neal’s portfolio.Huntington Steele reduced its stake in PEP by selling 95 shares or 3.29% in the most recent quarter. The Hedge Fund company now holds 2,790 shares of PEP which is valued at $306,649. PepsiCo makes up approx 0.11% of Huntington Steele’s portfolio.

PepsiCo closed down -0.61 points or -0.56% at $108.92 with 30,21,759 shares getting traded on Wednesday. Post opening the session at $109.86, the shares hit an intraday low of $108.68 and an intraday high of $109.91 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, PepsiCo reported $1.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 7, 2016. Analyst had a consensus of $1.30. The company had revenue of $15395.00 million for the quarter, compared to analysts expectations of $15404.54 million. The company’s revenue was down -3.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.32 EPS.

Investors should note that on Jul 14, 2016, PepsiCo announced a cash dividend of $0.7525. The company’s management has announced Aug 31, 2016 as the ex-dividend date and fixed the record date on Sep 2, 2016. The payable date has been fixed on Sep 30, 2016.

Many Wall Street Analysts have commented on PepsiCo. 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 .Company shares were Reiterated by Deutsche Bank on Jul 8, 2016 to “Buy”, Firm has raised the Price Target to $ 120 from a previous price target of $115 .

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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