Bessemer Group Inc Lowers stake in PepsiCo (PEP)

PepsiCo (PEP) : Bessemer Group Inc reduced its stake in PepsiCo by 5.55% during the most recent quarter end. The investment management company now holds a total of 3,252,430 shares of PepsiCo which is valued at $338.8 Million after selling 191,199 shares in PepsiCo , the firm said in a disclosure report filed with the SEC on May 11, 2016.PepsiCo makes up approximately 1.95% of Bessemer Group Inc’s portfolio.

Other Hedge Funds, Including , Artemis Investment Management Llp boosted its stake in PEP in the latest quarter, The investment management firm added 82,944 additional shares and now holds a total of 85,232 shares of PepsiCo which is valued at $8.9 Million. PepsiCo makes up approx 0.22% of Artemis Investment Management Llp’s portfolio.Nordea Investment Management Ab boosted its stake in PEP in the latest quarter, The investment management firm added 204,848 additional shares and now holds a total of 2,343,156 shares of PepsiCo which is valued at $241.3 Million. PepsiCo makes up approx 0.72% of Nordea Investment Management Ab’s portfolio.State Of New Jersey Common Pension Fund D boosted its stake in PEP in the latest quarter, The investment management firm added 50,000 additional shares and now holds a total of 1,834,600 shares of PepsiCo which is valued at $188.9 Million. PepsiCo makes up approx 0.85% of State Of New Jersey Common Pension Fund D’s portfolio. Newsquare Capital added PEP to its portfolio by purchasing 1,550 company shares during the most recent quarter which is valued at $159,588. PepsiCo makes up approx 0.05% of Newsquare Capital’s portfolio.Everett Harris Co Ca reduced its stake in PEP by selling 4,845 shares or 1.2% in the most recent quarter. The Hedge Fund company now holds 398,537 shares of PEP which is valued at $41 Million. PepsiCo makes up approx 1.48% of Everett Harris Co Ca’s portfolio.

PepsiCo closed down -0.05 points or -0.05% at $104.13 with 42,43,167 shares getting traded on Monday. Post opening the session at $103.98, the shares hit an intraday low of $103.63 and an intraday high of $104.65 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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.

Investors should note that on May 3, 2016, PepsiCo announced a cash dividend of $0.7525. The company’s management has announced Jun 1, 2016 as the ex-dividend date and fixed the record date on Jun 3, 2016. The payable date has been fixed on Jun 30, 2016.

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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