Chesley Taft Associates buys $27,340,958 stake in PepsiCo (PEP)

PepsiCo (PEP) : Chesley Taft Associates scooped up 6,861 additional shares in PepsiCo during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 21, 2016. The investment management firm now holds a total of 250,398 shares of PepsiCo which is valued at $27,340,958.PepsiCo makes up approximately 2.72% of Chesley Taft Associates’s portfolio.

Other Hedge Funds, Including , Ken Stern Associates boosted its stake in PEP in the latest quarter, The investment management firm added 152 additional shares and now holds a total of 4,403 shares of PepsiCo which is valued at $480,764. PepsiCo makes up approx 0.36% of Ken Stern Associates’s portfolio.Jones Collombin Investment Counsel Inc reduced its stake in PEP by selling 685 shares or 73.26% in the most recent quarter. The Hedge Fund company now holds 250 shares of PEP which is valued at $27,298. PepsiCo makes up approx 0.01% of Jones Collombin Investment Counsel Inc’s portfolio.Ruane Cunniff Goldfarb Inc reduced its stake in PEP by selling 2,116 shares or 4.75% in the most recent quarter. The Hedge Fund company now holds 42,462 shares of PEP which is valued at $4,637,275. PepsiCo makes up approx 0.04% of Ruane Cunniff Goldfarb Inc’s portfolio.Nisa Investment Advisors boosted its stake in PEP in the latest quarter, The investment management firm added 19,495 additional shares and now holds a total of 460,155 shares of PepsiCo which is valued at $50,253,528. PepsiCo makes up approx 0.66% of Nisa Investment Advisors’s portfolio.American Investment Services reduced its stake in PEP by selling 99 shares or 1.76% in the most recent quarter. The Hedge Fund company now holds 5,518 shares of PEP which is valued at $606,483. PepsiCo makes up approx 0.26% of American Investment Services’s portfolio.

PepsiCo opened for trading at $107.55 and hit $108.38 on the upside on Thursday, eventually ending the session at $108.13, with a gain of 0.60% or 0.65 points. The heightened volatility saw the trading volume jump to 34,29,792 shares. Company has a market cap of $155,616 M.

On the company’s financial health, PepsiCo reported $1.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 7, 2016. Analyst had a consensus of $1.30. The company had revenue of $15395.00 million for the quarter, compared to analysts expectations of $15404.54 million. The company’s revenue was down -3.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.32 EPS.

Investors should note that on Jul 14, 2016, PepsiCo announced a cash dividend of $0.7525. The company’s management has announced Aug 31, 2016 as the ex-dividend date and fixed the record date on Sep 2, 2016. The payable date has been fixed on Sep 30, 2016.

Many Wall Street Analysts have commented on PepsiCo. Company shares were Reiterated by UBS on Jul 8, 2016 to “Buy”, Firm has raised the Price Target to $ 119 from a previous price target of $113 .Company shares were Reiterated by Deutsche Bank on Jul 8, 2016 to “Buy”, Firm has raised the Price Target to $ 120 from a previous price target of $115 .

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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