Northeast Investment Management Lowers stake in PepsiCo (PEP)

PepsiCo (PEP) : Northeast Investment Management reduced its stake in PepsiCo by 1.17% during the most recent quarter end. The investment management company now holds a total of 127,373 shares of PepsiCo which is valued at $13,761,379 after selling 1,503 shares in PepsiCo , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.PepsiCo makes up approximately 1.36% of Northeast Investment Management’s portfolio.

Other Hedge Funds, Including , Smith Chas P Associates Pa Cpas boosted its stake in PEP in the latest quarter, The investment management firm added 461 additional shares and now holds a total of 159,955 shares of PepsiCo which is valued at $17,281,538. PepsiCo makes up approx 2.87% of Smith Chas P Associates Pa Cpas’s portfolio.Nordea Investment Management Ab reduced its stake in PEP by selling 242,673 shares or 10.36% in the most recent quarter. The Hedge Fund company now holds 2,100,483 shares of PEP which is valued at $228,784,608. PepsiCo makes up approx 0.65% of Nordea Investment Management Ab’s portfolio.First National Bank Of Omaha boosted its stake in PEP in the latest quarter, The investment management firm added 3,091 additional shares and now holds a total of 207,145 shares of PepsiCo which is valued at $22,562,233. PepsiCo makes up approx 1.70% of First National Bank Of Omaha’s portfolio.Somerset Trust Co boosted its stake in PEP in the latest quarter, The investment management firm added 380 additional shares and now holds a total of 11,847 shares of PepsiCo which is valued at $1,302,104. PepsiCo makes up approx 0.78% of Somerset Trust Co’s portfolio.Kistler-tiffany Companies boosted its stake in PEP in the latest quarter, The investment management firm added 669 additional shares and now holds a total of 26,625 shares of PepsiCo which is valued at $2,882,689. PepsiCo makes up approx 1.46% of Kistler-tiffany Companies’s portfolio.

PepsiCo closed down -0.52 points or -0.48% at $108.14 with 33,04,241 shares getting traded on Monday. Post opening the session at $108.42, the shares hit an intraday low of $107.671 and an intraday high of $108.62 and the price fluctuated in this range throughout the day.Shares ended Monday 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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