Bangor Savings Bank Lowers stake in PepsiCo (PEP)

PepsiCo (PEP) : Bangor Savings Bank reduced its stake in PepsiCo by 16.79% during the most recent quarter end. The investment management company now holds a total of 32,555 shares of PepsiCo which is valued at $3.3 Million after selling 6,571 shares in PepsiCo , the firm said in a disclosure report filed with the SEC on May 26, 2016.PepsiCo makes up approximately 0.82% of Bangor Savings Bank’s portfolio.

Other Hedge Funds, Including , Hodges Capital Management boosted its stake in PEP in the latest quarter, The investment management firm added 171 additional shares and now holds a total of 14,803 shares of PepsiCo which is valued at $1.5 Million. PepsiCo makes up approx 0.07% of Hodges Capital Management’s portfolio.Tcw Group Inc boosted its stake in PEP in the latest quarter, The investment management firm added 187,062 additional shares and now holds a total of 1,872,564 shares of PepsiCo which is valued at $187.4 Million. PepsiCo makes up approx 1.39% of Tcw Group Inc’s portfolio.Artisan Partners Limited Partnership boosted its stake in PEP in the latest quarter, The investment management firm added 116,892 additional shares and now holds a total of 195,150 shares of PepsiCo which is valued at $20.3 Million. PepsiCo makes up approx 0.04% of Artisan Partners Limited Partnership’s portfolio.Windsor Capital Management reduced its stake in PEP by selling 88 shares or 2.3% in the most recent quarter. The Hedge Fund company now holds 3,740 shares of PEP which is valued at $389,633. PepsiCo makes up approx 0.24% of Windsor Capital Management’s portfolio.

PepsiCo opened for trading at $100.56 and hit $101.6 on the upside on Wednesday, eventually ending the session at $101.57, with a gain of 1.15% or 1.1525 points. The heightened volatility saw the trading volume jump to 47,41,392 shares. Company has a market cap of $146,709 M.

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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