PepsiCo (PEP) Set to Announce Quarterly Earnings on Tuesday

PepsiCo (NASDAQ:PEP) is set to announce its earnings results before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $1.52 per share for the quarter. PepsiCo has set its FY 2024 guidance at 8.150- EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Friday, February 9th. The company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $27.84 billion during the quarter, compared to the consensus estimate of $28.40 billion. PepsiCo had a net margin of 9.92% and a return on equity of 58.03%. PepsiCo’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.67 earnings per share. On average, analysts expect PepsiCo to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

PepsiCo Price Performance

Shares of PEP opened at $166.95 on Tuesday. The stock has a market cap of $229.47 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 2.64 and a beta of 0.53. 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 fifty-two week low of $155.83 and a fifty-two week high of $196.88. The firm’s 50-day simple moving average is $168.70 and its two-hundred day simple moving average is $167.38.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a $1.265 dividend. The ex-dividend date was Thursday, February 29th. This represents a $5.06 annualized dividend and a yield of 3.03%. PepsiCo’s payout ratio is presently 77.02%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $180.00 target price on shares of PepsiCo in a research note on Monday, February 12th. Wedbush reaffirmed an “outperform” rating and set a $195.00 target price on shares of PepsiCo in a research note on Friday, February 9th. Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a research note on Monday, March 18th. Citigroup raised shares of PepsiCo from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $180.00 to $195.00 in a research note on Monday, February 12th. Finally, StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Monday, February 12th. 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.com, the company has an average rating of “Moderate Buy” and an average target price of $186.92.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. FIL Ltd boosted its holdings in shares of PepsiCo by 88.3% in the 4th quarter. FIL Ltd now owns 261,485 shares of the company’s stock valued at $44,411,000 after acquiring an additional 122,601 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of PepsiCo in the 4th quarter valued at $200,000. Secured Retirement Advisors LLC acquired a new position in shares of PepsiCo in the 4th quarter valued at $255,000. Harbour Investments Inc. raised its position in PepsiCo by 7.4% during the fourth quarter. Harbour Investments Inc. now owns 26,070 shares of the company’s stock worth $4,428,000 after acquiring an additional 1,799 shares during the period. Finally, Aspect Partners LLC acquired a new position in PepsiCo during the fourth quarter worth $84,000. Institutional investors own 73.07% of the company’s stock.

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.