PepsiCo (NASDAQ:PEP) Releases FY24 Earnings Guidance

PepsiCo (NASDAQ:PEP) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of at least $8.15 for the period, compared to the consensus estimate of $8.16. PepsiCo also updated its FY 2024 guidance to 8.150- EPS.

PepsiCo Price Performance

PEP stock opened at $166.38 on Friday. PepsiCo has a 1 year low of $155.83 and a 1 year high of $192.38. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. The stock has a market cap of $228.74 billion, a price-to-earnings ratio of 24.15, a P/E/G ratio of 2.89 and a beta of 0.52. The company has a 50 day simple moving average of $170.93 and a 200 day simple moving average of $169.98.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a return on equity of 57.86% and a net margin of 10.34%. PepsiCo’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.09 EPS. Research analysts anticipate that PepsiCo will post 8.15 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, June 7th. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a yield of 3.26%. PepsiCo’s dividend payout ratio (DPR) is currently 78.66%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wells Fargo & Company cut their price target on PepsiCo from $175.00 to $170.00 and set an equal weight rating on the stock in a report on Wednesday. Royal Bank of Canada decreased their target price on PepsiCo from $180.00 to $177.00 and set a sector perform rating for the company in a research report on Friday. Wedbush reiterated an outperform rating and issued a $195.00 price target on shares of PepsiCo in a report on Tuesday, April 23rd. JPMorgan Chase & Co. decreased their price objective on PepsiCo from $184.00 to $182.00 and set a neutral rating for the company in a report on Friday. Finally, Bank of America reduced their price target on shares of PepsiCo from $210.00 to $190.00 and set a buy rating for the company in a research report on Monday, July 8th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $185.27.

Insider Activity at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the completion of the transaction, the chief executive officer now owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.15% of the stock is currently owned by insiders.

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.