PepsiCo (NASDAQ:PEP) Issues Quarterly Earnings Results

PepsiCo (NASDAQ:PEP) announced its quarterly earnings results on Tuesday. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.09, Briefing.com reports. The business had revenue of $18.25 billion during the quarter, compared to analysts’ expectations of $18.08 billion. PepsiCo had a net margin of 9.92% and a return on equity of 58.03%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.50 EPS. PepsiCo updated its FY24 guidance to at least $8.15 EPS and its FY 2024 guidance to 8.150- EPS.

PepsiCo Stock Up 0.9 %

NASDAQ:PEP traded up $1.52 on Wednesday, reaching $172.74. 1,831,636 shares of the stock traded hands, compared to its average volume of 5,747,046. The company has a market capitalization of $237.43 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 2.77 and a beta of 0.53. The company has a current ratio of 0.85, a quick ratio of 0.68 and a debt-to-equity ratio of 2.02. PepsiCo has a 12 month low of $155.83 and a 12 month high of $196.88. The company’s fifty day simple moving average is $168.84 and its 200 day simple moving average is $167.63.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a dividend of $1.265 per share. The ex-dividend date was Thursday, February 29th. This represents a $5.06 dividend on an annualized basis and a yield of 2.93%. PepsiCo’s dividend payout ratio is currently 77.02%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a report on Monday, March 18th. Jefferies Financial Group upped their price objective on shares of PepsiCo from $199.00 to $209.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $180.00 price objective on shares of PepsiCo in a report on Monday, February 12th. StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Monday, February 12th. Finally, Wedbush reiterated an “outperform” rating and issued a $195.00 price target on shares of PepsiCo in a research note on Tuesday. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, PepsiCo currently has an average rating of “Moderate Buy” and an average target price of $186.92.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of 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.