Jolley Asset Management Lowers stake in PepsiCo (PEP)

PepsiCo (PEP) : Jolley Asset Management reduced its stake in PepsiCo by 1.01% during the most recent quarter end. The investment management company now holds a total of 6,350 shares of PepsiCo which is valued at $678,371 after selling 65 shares in PepsiCo , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.PepsiCo makes up approximately 0.56% of Jolley Asset Management’s portfolio.

Other Hedge Funds, Including , Cwm reduced its stake in PEP by selling 124,775 shares or 97.83% in the most recent quarter. The Hedge Fund company now holds 2,769 shares of PEP which is valued at $295,812. PepsiCo makes up approx 0.02% of Cwm’s portfolio.Stock Yards Bank Trust Co reduced its stake in PEP by selling 12,625 shares or 17.52% in the most recent quarter. The Hedge Fund company now holds 59,422 shares of PEP which is valued at $6,348,052. PepsiCo makes up approx 0.88% of Stock Yards Bank Trust Co’s portfolio.Contravisory Investment Management reduced its stake in PEP by selling 9 shares or 18.37% in the most recent quarter. The Hedge Fund company now holds 40 shares of PEP which is valued at $4,249.Community Trust Investment Co reduced its stake in PEP by selling 1,810 shares or 1.56% in the most recent quarter. The Hedge Fund company now holds 114,423 shares of PEP which is valued at $12,154,011. PepsiCo makes up approx 1.55% of Community Trust Investment Co’s portfolio.Independent Portfolio Consultants reduced its stake in PEP by selling 755 shares or 6.55% in the most recent quarter. The Hedge Fund company now holds 10,779 shares of PEP which is valued at $1,142,682. PepsiCo makes up approx 0.36% of Independent Portfolio Consultants’s portfolio.

PepsiCo opened for trading at $106.07 and hit $107.06 on the upside on Friday, eventually ending the session at $106.83, with a gain of 0.86% or 0.91 points. The heightened volatility saw the trading volume jump to 47,88,606 shares. Company has a market cap of $153,214 M.

On the company’s financial health, PepsiCo reported $1.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Sep 29, 2016. Analyst had a consensus of $1.32. The company had revenue of $16027.00 million for the quarter, compared to analysts expectations of $15865.42 million. The company’s revenue was down -1.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.35 EPS.

Many Wall Street Analysts have commented on PepsiCo. Shares were Reiterated by Jefferies on Sep 30, 2016 to “Buy” and Lowered the Price Target to $ 122 from a previous price target of $124 .Credit Suisse Initiated PepsiCo on Sep 16, 2016 to “Outperform”, Price Target of the shares are set at $121.

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.

Leave a Reply

PepsiCo - Is it time to Sell?

Top Brokerage Firms are advising their investors on PepsiCo. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.