PepsiCo (NASDAQ:PEP) Announces Earnings Results, Beats Expectations By $0.12 EPS

PepsiCo (NASDAQ:PEP) announced its earnings results on Thursday. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12, RTT News reports. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $22.59 billion. During the same period last year, the company posted $2.09 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. PepsiCo updated its FY 2024 guidance to 8.150- EPS and its FY24 guidance to at least $8.15 EPS.

PepsiCo Stock Up 0.2 %

PepsiCo stock traded up $0.36 during mid-day trading on Thursday, reaching $163.95. The company’s stock had a trading volume of 10,258,744 shares, compared to its average volume of 5,524,253. The business’s 50 day simple moving average is $171.36 and its 200 day simple moving average is $170.03. 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 has a 12 month low of $155.83 and a 12 month high of $192.38. The company has a market capitalization of $225.40 billion, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of 2.67 and a beta of 0.52.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were issued a $1.355 dividend. The ex-dividend date was Friday, June 7th. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.31%. PepsiCo’s dividend payout ratio (DPR) is 81.50%.

Insider Transactions at PepsiCo

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the sale, the chief executive officer now owns 53,953 shares in the company, valued at $9,603,634. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PEP. Wedbush reissued an “outperform” rating and set a $195.00 price target on shares of PepsiCo in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. increased their price objective on PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a research report on Wednesday, June 26th. Bank of America cut their price target on PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday. Wells Fargo & Company lowered their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Jefferies Financial Group lowered their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo currently has an average rating of “Moderate Buy” and an average price target of $186.00.

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.