PepsiCo (NASDAQ:PEP) Posts Earnings Results, Beats Estimates By $0.06 EPS

PepsiCo (NASDAQ:PEPGet Free Report) announced its quarterly earnings results on Friday. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06, MarketWatch Earnings reports. PepsiCo had a return on equity of 58.03% and a net margin of 9.92%. The business had revenue of $27.84 billion during the quarter, compared to the consensus estimate of $28.40 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. PepsiCo’s revenue was down .6% compared to the same quarter last year. PepsiCo updated its FY 2024 guidance to 8.150- EPS.

PepsiCo Stock Performance

Shares of PEP opened at $167.67 on Monday. The stock’s 50-day simple moving average is $168.53 and its 200 day simple moving average is $171.04. The stock has a market capitalization of $230.52 billion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 2.50 and a beta of 0.54. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.68 and a current ratio of 0.85. PepsiCo has a 52-week low of $155.83 and a 52-week high of $196.88.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 1st will be issued a dividend of $1.265 per share. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $5.06 dividend on an annualized basis and a yield of 3.02%. PepsiCo’s dividend payout ratio (DPR) is 77.02%.

Institutional Trading of PepsiCo

A number of institutional investors have recently added to or reduced their stakes in PEP. Arvest Trust Co. N A increased its stake in PepsiCo by 5.8% in the 2nd quarter. Arvest Trust Co. N A now owns 1,268 shares of the company’s stock worth $238,000 after acquiring an additional 70 shares during the last quarter. Symphony Financial Ltd. Co. increased its stake in PepsiCo by 19.0% in the 1st quarter. Symphony Financial Ltd. Co. now owns 8,160 shares of the company’s stock worth $237,000 after acquiring an additional 1,300 shares during the last quarter. Apexium Financial LP increased its stake in PepsiCo by 9.5% in the 1st quarter. Apexium Financial LP now owns 1,231 shares of the company’s stock worth $224,000 after acquiring an additional 107 shares during the last quarter. Talisman Wealth Advisors LLC bought a new position in PepsiCo in the 4th quarter worth about $212,000. Finally, BOS Asset Management LLC bought a new position in PepsiCo in the 4th quarter worth about $204,000. Hedge funds and other institutional investors own 71.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Citigroup raised PepsiCo from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $180.00 to $195.00 in a research report on Monday. Wedbush reissued an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a research report on Friday. DZ Bank raised PepsiCo from a “hold” rating to a “buy” rating and set a $187.00 price objective on the stock in a research report on Thursday, October 19th. Barclays cut their price objective on PepsiCo from $181.00 to $179.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on PepsiCo from $181.00 to $184.00 and gave the stock a “hold” rating in a research report on Friday. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.46.

Read Our Latest Stock Report on PepsiCo

PepsiCo Company Profile

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PepsiCo, Inc manufactures, markets, distributes, and sells various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.

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Earnings History for PepsiCo (NASDAQ:PEP)

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