As Pepsico (PEP) Valuation Rose, Hallmark Capital Management Has Trimmed Stake by $407,925; As Apple Computer (AAPL) Share Price Rose, Grimes & Company Cut Its Stake

February 15, 2018 - By Moses P. Lee

Hallmark Capital Management Inc decreased its stake in Pepsico Inc (PEP) by 16.13% based on its latest 2017Q3 regulatory filing with the SEC. Hallmark Capital Management Inc sold 3,675 shares as the company’s stock rose 5.12% with the market. The institutional investor held 19,106 shares of the consumer non-durables company at the end of 2017Q3, valued at $2.13 million, down from 22,781 at the end of the previous reported quarter. Hallmark Capital Management Inc who had been investing in Pepsico Inc for a number of months, seems to be less bullish one the $155.17B market cap company. The stock decreased 2.70% or $3.03 during the last trading session, reaching $109.11. About 7.70M shares traded or 93.31% up from the average. PepsiCo, Inc. (NYSE:PEP) has risen 12.20% since February 15, 2017 and is uptrending. It has underperformed by 4.50% the S&P500.

Grimes & Company Inc decreased its stake in Apple Computer Inc. (AAPL) by 2.84% based on its latest 2017Q3 regulatory filing with the SEC. Grimes & Company Inc sold 3,161 shares as the company’s stock rose 12.78% with the market. The institutional investor held 108,188 shares of the computer manufacturing company at the end of 2017Q3, valued at $16.67 million, down from 111,349 at the end of the previous reported quarter. Grimes & Company Inc who had been investing in Apple Computer Inc. for a number of months, seems to be less bullish one the $849.24 billion market cap company. The stock increased 1.84% or $3.03 during the last trading session, reaching $167.37. About 40.64 million shares traded or 22.24% up from the average. Apple Inc. (NASDAQ:AAPL) has risen 62.48% since February 15, 2017 and is uptrending. It has outperformed by 45.78% the S&P500.

Investors sentiment increased to 0.94 in Q3 2017. Its up 0.19, from 0.75 in 2017Q2. It increased, as 51 investors sold PEP shares while 689 reduced holdings. 106 funds opened positions while 593 raised stakes. 964.87 million shares or 1.00% less from 974.57 million shares in 2017Q2 were reported. Inspirion Wealth Lc owns 2,185 shares or 0.12% of their US portfolio. Alphaone Service Lc stated it has 290 shares or 0.01% of all its holdings. Comerica holds 0.12% of its portfolio in PepsiCo, Inc. (NASDAQ:PEP) for 7,513 shares. Elm Advsr Ltd Liability Company has 0.2% invested in PepsiCo, Inc. (NASDAQ:PEP) for 2,255 shares. The California-based Schnieders Capital Mngmt Ltd Liability Corp has invested 2.03% in PepsiCo, Inc. (NASDAQ:PEP). Bollard Grp accumulated 0.17% or 28,445 shares. Barrington Strategic Wealth Management Gru Lc invested in 11,133 shares or 0.63% of the stock. Bokf Na reported 185,750 shares or 0.6% of all its holdings. Legg Mason Asset Mngmt (Japan) Commerce Ltd has 2.1% invested in PepsiCo, Inc. (NASDAQ:PEP). Ballentine Ptnrs Limited Co has 0.19% invested in PepsiCo, Inc. (NASDAQ:PEP). Scotia Capital Inc owns 233,945 shares. Bontempo Ohly Management Limited Liability owns 18,158 shares or 1.57% of their US portfolio. London Company Of Virginia has 2,366 shares. West Oak Cap Ltd Liability Co has invested 0.99% in PepsiCo, Inc. (NASDAQ:PEP). Bailard holds 0.32% of its portfolio in PepsiCo, Inc. (NASDAQ:PEP) for 37,619 shares.

Hallmark Capital Management Inc, which manages about $816.74M and $795.37 million US Long portfolio, upped its stake in Amerisourcebergen Corp (NYSE:ABC) by 3,810 shares to 165,317 shares, valued at $13.68M in 2017Q3, according to the filing. It also increased its holding in Union Pacific Corp (NYSE:UNP) by 4,538 shares in the quarter, for a total of 140,253 shares, and has risen its stake in Starwood Property Trust Inc (NYSE:STWD).

Among 22 analysts covering PepsiCo (NYSE:PEP), 8 have Buy rating, 0 Sell and 14 Hold. Therefore 36% are positive. PepsiCo had 67 analyst reports since July 21, 2015 according to SRatingsIntel. The company was initiated on Friday, September 16 by Credit Suisse. Deutsche Bank maintained PepsiCo, Inc. (NASDAQ:PEP) rating on Friday, July 8. Deutsche Bank has “Buy” rating and $120 target. JP Morgan maintained the shares of PEP in report on Tuesday, April 19 with “Overweight” rating. On Tuesday, April 19 the stock rating was maintained by Barclays Capital with “Overweight”. RBC Capital Markets maintained PepsiCo, Inc. (NASDAQ:PEP) rating on Tuesday, September 5. RBC Capital Markets has “Hold” rating and $115.0 target. The stock of PepsiCo, Inc. (NASDAQ:PEP) earned “In-Line” rating by Evercore on Wednesday, February 14. On Friday, November 10 the stock rating was maintained by RBC Capital Markets with “Hold”. The firm has “Sector Perform” rating by RBC Capital Markets given on Thursday, October 5. The stock of PepsiCo, Inc. (NASDAQ:PEP) has “Buy” rating given on Monday, February 12 by Susquehanna. The stock of PepsiCo, Inc. (NASDAQ:PEP) earned “Buy” rating by Cowen & Co on Monday, January 8.

Since October 10, 2017, it had 0 insider buys, and 1 sale for $2.37 million activity.

Among 53 analysts covering Apple Inc. (NASDAQ:AAPL), 35 have Buy rating, 1 Sell and 17 Hold. Therefore 66% are positive. Apple Inc. had 377 analyst reports since July 21, 2015 according to SRatingsIntel. The firm earned “Buy” rating on Friday, November 3 by Citigroup. The firm earned “Buy” rating on Friday, October 27 by Maxim Group. The stock has “Buy” rating by Brean Capital on Wednesday, April 27. The firm earned “Hold” rating on Tuesday, February 13 by Nomura. The stock of Apple Inc. (NASDAQ:AAPL) has “Buy” rating given on Tuesday, July 25 by UBS. Barclays Capital maintained Apple Inc. (NASDAQ:AAPL) on Monday, December 14 with “Overweight” rating. Rosenblatt maintained Apple Inc. (NASDAQ:AAPL) on Sunday, August 16 with “Buy” rating. The stock has “Overweight” rating by Barclays Capital on Wednesday, October 26. Mizuho upgraded Apple Inc. (NASDAQ:AAPL) on Monday, July 10 to “Buy” rating. Pacific Crest maintained the stock with “Equal Weight” rating in Friday, September 11 report.

Grimes & Company Inc, which manages about $1.63B and $940.51 million US Long portfolio, upped its stake in Ishares Dow Jones Us Industria (IYJ) by 11,249 shares to 117,844 shares, valued at $16.33 million in 2017Q3, according to the filing. It also increased its holding in Ishares Msci Eafe (EFA) by 19,819 shares in the quarter, for a total of 183,257 shares, and has risen its stake in Spdr Nuveen S&P High Yield Mun (HYMB).

Since August 15, 2017, it had 0 insider buys, and 7 selling transactions for $70.47 million activity. 56,808 shares valued at $8.79 million were sold by SCHILLER PHILIP W on Tuesday, October 3. $2.42M worth of Apple Inc. (NASDAQ:AAPL) was sold by Riccio Daniel J.. Shares for $1.01 million were sold by KONDO CHRIS on Tuesday, August 15. Shares for $43.15 million were sold by COOK TIMOTHY D on Thursday, August 24. The insider AHRENDTS ANGELA J sold $9.78 million.

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By1 Moses P. Lee

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