Klingenstein Fields Co Lowers stake in PepsiCo (PEP)

PepsiCo (PEP) : Klingenstein Fields Co reduced its stake in PepsiCo by 0.97% during the most recent quarter end. The investment management company now holds a total of 1,311,619 shares of PepsiCo which is valued at $137,667,530 after selling 12,913 shares in PepsiCo , the firm said in a disclosure report filed with the SEC on May 2, 2016.PepsiCo makes up approximately 6.74% of Klingenstein Fields Co’s portfolio.

PepsiCo opened for trading at $103.68 and hit $104.97 on the upside on Friday, eventually ending the session at $104.96, with a gain of 0.72% or 0.75 points. The heightened volatility saw the trading volume jump to 35,47,652 shares. Company has a market cap of $151,606 M.

Other Hedge Funds, Including , Wall Street Access Asset Management added PEP to its portfolio by purchasing 30 company shares during the most recent quarter which is valued at $3,149.Eads Heald Investment Counsel reduced its stake in PEP by selling 607 shares or 2.92% in the most recent quarter. The Hedge Fund company now holds 20,147 shares of PEP which is valued at $2,074,335. PepsiCo makes up approx 1.44% of Eads Heald Investment Counsel’s portfolio.Loudon Investment Management reduced its stake in PEP by selling 1,606 shares or 8.66% in the most recent quarter. The Hedge Fund company now holds 16,946 shares of PEP which is valued at $1,744,760. PepsiCo makes up approx 1.40% of Loudon Investment Management’s portfolio.Van Cleef Asset Managementinc boosted its stake in PEP in the latest quarter, The investment management firm added 737 additional shares and now holds a total of 51,840 shares of PepsiCo which is valued at $5,286,643. PepsiCo makes up approx 1.85% of Van Cleef Asset Managementinc’s portfolio.

On the company’s financial health, PepsiCo reported $0.89 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Apr 18, 2016. Analyst had a consensus of $0.81. The company had revenue of $11862.00 million for the quarter, compared to analysts expectations of $12000.40 million. The company’s revenue was down -2.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.83 EPS.

Many Wall Street Analysts have commented on PepsiCo. Company shares were Reiterated by UBS on Apr 19, 2016 to “Buy”, Firm has raised the Price Target to $ 114 from a previous price target of $113 .PepsiCo was Downgraded by Stifel to ” Hold” on Apr 14, 2016. Company shares were Reiterated by UBS on Mar 23, 2016 to “Buy”, Firm has raised the Price Target to $ 113 from a previous price target of $108 .

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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