Concannon Wealth Management buys $2,142 stake in PepsiCo (PEP)

PepsiCo (PEP) : Concannon Wealth Management scooped up 1 additional shares in PepsiCo during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 21 shares of PepsiCo which is valued at $2,142.

PepsiCo opened for trading at $102.72 and hit $103.36 on the upside on Wednesday, eventually ending the session at $102.63, with a gain of 0.03% or 0.03 points. The heightened volatility saw the trading volume jump to 37,30,939 shares. Company has a market cap of $148,241 M.

Other Hedge Funds, Including , Appleton Partners Incma boosted its stake in PEP in the latest quarter, The investment management firm added 471 additional shares and now holds a total of 91,473 shares of PepsiCo which is valued at $9,328,417. PepsiCo makes up approx 1.82% of Appleton Partners Incma’s portfolio. Marathon Asset Management Llp added PEP to its portfolio by purchasing 117,276 company shares during the most recent quarter which is valued at $11,959,806. PepsiCo makes up approx 0.26% of Marathon Asset Management Llp’s portfolio.Macnealy Hoover Investment Management Inc reduced its stake in PEP by selling 20 shares or 0.1% in the most recent quarter. The Hedge Fund company now holds 19,385 shares of PEP which is valued at $2,011,581. PepsiCo makes up approx 0.38% of Macnealy Hoover Investment Management Inc’s portfolio.Train Babcock Advisors reduced its stake in PEP by selling 1,000 shares or 28.99% in the most recent quarter. The Hedge Fund company now holds 2,450 shares of PEP which is valued at $254,237. PepsiCo makes up approx 0.10% of Train Babcock Advisors’s portfolio.Gavekal Capital reduced its stake in PEP by selling 8,603 shares or 6.19% in the most recent quarter. The Hedge Fund company now holds 130,348 shares of PEP which is valued at $13,526,212. PepsiCo makes up approx 4.90% of Gavekal Capital’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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