Q2 2024 Earnings Estimate for PepsiCo, Inc. (NASDAQ:PEP) Issued By Wedbush

PepsiCo, Inc. (NASDAQ:PEP) – Wedbush dropped their Q2 2024 earnings estimates for PepsiCo in a research report issued to clients and investors on Wednesday, April 24th. Wedbush analyst G. Pascarelli now expects that the company will post earnings of $2.15 per share for the quarter, down from their prior estimate of $2.23. Wedbush currently has a “Outperform” rating and a $195.00 target price on the stock. The consensus estimate for PepsiCo’s current full-year earnings is $8.15 per share. Wedbush also issued estimates for PepsiCo’s Q3 2024 earnings at $2.41 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.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a research note on Wednesday. Jefferies Financial Group boosted their price objective on shares of PepsiCo from $199.00 to $209.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of PepsiCo from $181.00 to $184.00 and gave the stock a “hold” rating in a research note on Friday, February 9th. Royal Bank of Canada reissued a “sector perform” rating and issued a $180.00 price objective on shares of PepsiCo in a research note on Monday, February 12th. Finally, Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a research note on Monday, March 18th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $187.42.

PepsiCo Stock Down 0.4 %

Shares of PEP opened at $176.68 on Thursday. The firm has a 50 day simple moving average of $169.22 and a two-hundred day simple moving average of $167.76. The company has a market cap of $242.85 billion, a P/E ratio of 26.57, a P/E/G ratio of 2.69 and a beta of 0.53. PepsiCo has a one year low of $155.83 and a one year high of $196.88. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. During the same period in the previous year, the business earned $1.50 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis.

Institutional Investors Weigh In On PepsiCo

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in PepsiCo by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock valued at $3,227,287,000 after buying an additional 578,083 shares during the last quarter. Northern Trust Corp grew its position in shares of PepsiCo by 3.7% during the 3rd quarter. Northern Trust Corp now owns 16,878,022 shares of the company’s stock valued at $2,859,812,000 after acquiring an additional 595,357 shares during the period. Norges Bank bought a new position in shares of PepsiCo during the 4th quarter valued at approximately $2,686,139,000. California Public Employees Retirement System grew its position in shares of PepsiCo by 17.9% during the 4th quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after acquiring an additional 1,470,064 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of PepsiCo by 17.7% during the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock valued at $1,520,909,000 after acquiring an additional 1,345,065 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a $1.265 dividend. The ex-dividend date was Thursday, February 29th. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.86%. PepsiCo’s dividend payout ratio is presently 76.09%.

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.