Wedbush Reaffirms Outperform Rating for PepsiCo (NASDAQ:PEP)

Wedbush reissued their outperform rating on shares of PepsiCo (NASDAQ:PEP) in a research report report published on Tuesday, Benzinga reports. The firm currently has a $195.00 price target on the stock. Wedbush also issued estimates for PepsiCo’s Q2 2024 earnings at $2.15 EPS, Q3 2024 earnings at $2.41 EPS, Q4 2024 earnings at $2.00 EPS, FY2024 earnings at $8.17 EPS, Q1 2025 earnings at $1.74 EPS, Q2 2025 earnings at $2.39 EPS, Q3 2025 earnings at $2.60 EPS and Q4 2025 earnings at $2.14 EPS.

A number of other research firms have also recently commented on PEP. Citigroup raised PepsiCo from a neutral rating to a buy rating and raised their price target for the company from $180.00 to $195.00 in a report on Monday, February 12th. Jefferies Financial Group upped their price target on PepsiCo from $199.00 to $209.00 and gave the stock a buy rating in a research report on Friday, April 5th. StockNews.com downgraded PepsiCo from a buy rating to a hold rating in a research report on Monday, February 12th. Morgan Stanley raised shares of PepsiCo from an equal weight rating to an overweight rating and set a $190.00 price target on the stock in a report on Monday, March 18th. Finally, Royal Bank of Canada reaffirmed a sector perform rating and issued a $180.00 price target on shares of PepsiCo in a report on Monday, February 12th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $187.42.

PepsiCo Stock Down 0.6 %

Shares of NASDAQ:PEP opened at $175.58 on Tuesday. PepsiCo has a 52-week low of $155.83 and a 52-week high of $196.88. The firm has a market capitalization of $241.39 billion, a P/E ratio of 26.40, a P/E/G ratio of 2.80 and a beta of 0.53. The stock has a 50 day moving average price of $169.40 and a 200-day moving average price of $167.86. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The company had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. During the same quarter last year, the company earned $1.50 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities research analysts anticipate that PepsiCo will post 8.16 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a $1.265 dividend. This represents a $5.06 annualized dividend and a dividend yield of 2.88%. The ex-dividend date was Thursday, February 29th. PepsiCo’s dividend payout ratio (DPR) is presently 76.09%.

Institutional Trading of PepsiCo

Several hedge funds have recently bought and sold shares of PEP. Trueblood Wealth Management LLC increased its position in shares of PepsiCo by 5.1% in the first quarter. Trueblood Wealth Management LLC now owns 5,512 shares of the company’s stock worth $965,000 after acquiring an additional 269 shares in the last quarter. Pavion Blue Capital LLC lifted its stake in PepsiCo by 8.2% in the first quarter. Pavion Blue Capital LLC now owns 40,408 shares of the company’s stock valued at $7,072,000 after acquiring an additional 3,073 shares during the last quarter. Narwhal Capital Management lifted its stake in PepsiCo by 4.8% in the first quarter. Narwhal Capital Management now owns 55,995 shares of the company’s stock valued at $9,800,000 after acquiring an additional 2,573 shares during the last quarter. MBA Advisors LLC lifted its stake in shares of PepsiCo by 3.6% in the first quarter. MBA Advisors LLC now owns 6,340 shares of the company’s stock worth $1,110,000 after buying an additional 218 shares during the last quarter. Finally, Highview Capital Management LLC DE lifted its stake in shares of PepsiCo by 11.4% in the first quarter. Highview Capital Management LLC DE now owns 3,779 shares of the company’s stock worth $661,000 after buying an additional 387 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

About PepsiCo

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.