Huntington National Bank Lowers stake in PepsiCo (PEP)

PepsiCo (PEP) : Huntington National Bank reduced its stake in PepsiCo by 11.32% during the most recent quarter end. The investment management company now holds a total of 435,297 shares of PepsiCo which is valued at $46,785,722 after selling 55,570 shares in PepsiCo , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.PepsiCo makes up approximately 1.14% of Huntington National Bank’s portfolio.

Other Hedge Funds, Including , Norris Perne French Llpmi reduced its stake in PEP by selling 11,443 shares or 11.35% in the most recent quarter. The Hedge Fund company now holds 89,371 shares of PEP which is valued at $9,605,595. PepsiCo makes up approx 2.01% of Norris Perne French Llpmi’s portfolio.Ami Asset Management Corp reduced its stake in PEP by selling 14,876 shares or 3.43% in the most recent quarter. The Hedge Fund company now holds 419,429 shares of PEP which is valued at $45,797,453. PepsiCo makes up approx 3.05% of Ami Asset Management Corp’s portfolio.Mcqueen Ball Associates reduced its stake in PEP by selling 48 shares or 0.23% in the most recent quarter. The Hedge Fund company now holds 20,700 shares of PEP which is valued at $2,260,233. PepsiCo makes up approx 1.56% of Mcqueen Ball Associates’s portfolio.Cribstone Capital Management reduced its stake in PEP by selling 300 shares or 5.63% in the most recent quarter. The Hedge Fund company now holds 5,028 shares of PEP which is valued at $547,650. PepsiCo makes up approx 0.34% of Cribstone Capital Management’s portfolio.Patten Patten Inctn reduced its stake in PEP by selling 330 shares or 0.59% in the most recent quarter. The Hedge Fund company now holds 55,953 shares of PEP which is valued at $6,058,031. PepsiCo makes up approx 0.83% of Patten Patten Inctn’s portfolio.

PepsiCo opened for trading at $108.26 and hit $109.11 on the upside on Friday, eventually ending the session at $108.92, with a gain of 0.73% or 0.79 points. The heightened volatility saw the trading volume jump to 39,95,291 shares. Company has a market cap of $156,753 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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