Perkins Coie Trust Co Lowers stake in PepsiCo (PEP)

PepsiCo (PEP) : Perkins Coie Trust Co reduced its stake in PepsiCo by 6.67% during the most recent quarter end. The investment management company now holds a total of 24,501 shares of PepsiCo which is valued at $2,542,469 after selling 1,750 shares in PepsiCo , the firm said in a disclosure report filed with the SEC on Apr 15, 2016.PepsiCo makes up approximately 1.71% of Perkins Coie Trust Co’s portfolio.

PepsiCo closed down -1.45 points or -1.42% at $100.99 with 71,45,583 shares getting traded on Wednesday. Post opening the session at $102.34, the shares hit an intraday low of $100.42 and an intraday high of $102.34 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , F&v Capital Management boosted its stake in PEP in the latest quarter, The investment management firm added 150 additional shares and now holds a total of 3,910 shares of PepsiCo which is valued at $405,741. PepsiCo makes up approx 0.31% of F&v Capital Management’s portfolio.Stonebridge Capital Management Inc reduced its stake in PEP by selling 1,770 shares or 2.17% in the most recent quarter. The Hedge Fund company now holds 79,830 shares of PEP which is valued at $8,283,959. PepsiCo makes up approx 3.50% of Stonebridge Capital Management Inc’s portfolio.Atalanta Sosnoff Capital boosted its stake in PEP in the latest quarter, The investment management firm added 45,350 additional shares and now holds a total of 397,077 shares of PepsiCo which is valued at $41,204,680. PepsiCo makes up approx 1.29% of Atalanta Sosnoff Capital’s portfolio.Edge Wealth Management reduced its stake in PEP by selling 850 shares or 19.23% in the most recent quarter. The Hedge Fund company now holds 3,570 shares of PEP which is valued at $372,351. PepsiCo makes up approx 0.17% of Edge Wealth Management’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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