Cullinan Associates Inc Lowers stake in PepsiCo (PEP)

PepsiCo (PEP) : Cullinan Associates Inc reduced its stake in PepsiCo by 3.68% during the most recent quarter end. The investment management company now holds a total of 138,249 shares of PepsiCo which is valued at $14,603,242 after selling 5,284 shares in PepsiCo , the firm said in a disclosure report filed with the SEC on Jul 1, 2016.PepsiCo makes up approximately 1.19% of Cullinan Associates Inc’s portfolio.

Other Hedge Funds, Including , Toth Financial Advisory Corp boosted its stake in PEP in the latest quarter, The investment management firm added 586 additional shares and now holds a total of 60,409 shares of PepsiCo which is valued at $6,381,003. PepsiCo makes up approx 1.95% of Toth Financial Advisory Corp’s portfolio.

PepsiCo closed down -0.31 points or -0.29% at $105.63 with 41,15,652 shares getting traded on Friday. Post opening the session at $106.23, the shares hit an intraday low of $105.3775 and an intraday high of $106.4 and the price fluctuated in this range throughout the day.Shares ended Friday 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.

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.

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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