Conning Lowers stake in PepsiCo (PEP)

PepsiCo (PEP) : Conning reduced its stake in PepsiCo by 0.29% during the most recent quarter end. The investment management company now holds a total of 305,792 shares of PepsiCo which is valued at $32,866,524 after selling 885 shares in PepsiCo , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.PepsiCo makes up approximately 1.36% of Conning’s portfolio.

Other Hedge Funds, Including , Strs Ohio boosted its stake in PEP in the latest quarter, The investment management firm added 34,745 additional shares and now holds a total of 1,569,840 shares of PepsiCo which is valued at $168,726,403. PepsiCo makes up approx 0.72% of Strs Ohio’s portfolio.Gavekal Capital boosted its stake in PEP in the latest quarter, The investment management firm added 17,102 additional shares and now holds a total of 147,450 shares of PepsiCo which is valued at $16,100,066. PepsiCo makes up approx 4.77% of Gavekal Capital’s portfolio.Osborne Partners Capital Management reduced its stake in PEP by selling 3,825 shares or 3.61% in the most recent quarter. The Hedge Fund company now holds 102,215 shares of PEP which is valued at $11,133,258. PepsiCo makes up approx 1.60% of Osborne Partners Capital Management’s portfolio.Gofen Glossberg Il boosted its stake in PEP in the latest quarter, The investment management firm added 3,228 additional shares and now holds a total of 409,409 shares of PepsiCo which is valued at $44,998,143. PepsiCo makes up approx 1.85% of Gofen Glossberg Il’s portfolio.West Oak Capital boosted its stake in PEP in the latest quarter, The investment management firm added 395 additional shares and now holds a total of 14,796 shares of PepsiCo which is valued at $1,601,963. PepsiCo makes up approx 1.14% of West Oak Capital’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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