Wedbush Comments on PepsiCo, Inc.’s Q2 2024 Earnings (NASDAQ:PEP)

PepsiCo, Inc. (NASDAQ:PEP) – Investment analysts at Wedbush decreased their Q2 2024 earnings estimates for shares of PepsiCo in a research note issued to investors on Wednesday, April 24th. Wedbush analyst G. Pascarelli now anticipates that the company will post earnings per share of $2.15 for the quarter, down from their previous forecast 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 $8.16 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.

A number of other research analysts have also weighed in on PEP. Barclays lifted their price objective on shares of PepsiCo from $184.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research report on Monday, March 18th. StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. upped their price target on shares of PepsiCo from $178.00 to $181.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $180.00 price target on shares of PepsiCo in a research report on Monday, February 12th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo presently has an average rating of “Moderate Buy” and a consensus target price of $187.42.

PepsiCo Stock Down 0.6 %

PepsiCo stock opened at $175.58 on Thursday. PepsiCo has a 1-year low of $155.83 and a 1-year high of $196.88. The firm has a market capitalization of $241.39 billion, a price-to-earnings ratio of 26.40, a P/E/G ratio of 2.80 and a beta of 0.53. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. The firm has a 50 day simple moving average of $169.40 and a 200 day simple moving average of $167.86.

PepsiCo (NASDAQ:PEP) last released 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 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 analyst estimates of $18.08 billion. During the same period in the previous year, the business earned $1.50 EPS. PepsiCo’s revenue was up 2.3% compared to the same quarter last year.

Hedge Funds Weigh In On PepsiCo

A number of institutional investors have recently bought and sold shares of the stock. Strategy Asset Managers LLC raised its position in shares of PepsiCo by 0.9% in the first quarter. Strategy Asset Managers LLC now owns 6,632 shares of the company’s stock valued at $1,161,000 after buying an additional 57 shares during the last quarter. Amplius Wealth Advisors LLC grew its holdings in shares of PepsiCo by 2.8% in the fourth quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock valued at $381,000 after purchasing an additional 60 shares during the period. Darwin Wealth Management LLC grew its holdings in shares of PepsiCo by 2.7% in the third quarter. Darwin Wealth Management LLC now owns 2,345 shares of the company’s stock valued at $397,000 after purchasing an additional 61 shares during the period. Sugarloaf Wealth Management LLC grew its holdings in shares of PepsiCo by 2.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock valued at $411,000 after purchasing an additional 61 shares during the period. Finally, SYM FINANCIAL Corp grew its holdings in shares of PepsiCo by 2.7% in the fourth quarter. SYM FINANCIAL Corp now owns 2,290 shares of the company’s stock valued at $389,000 after purchasing an additional 61 shares during the period. 73.07% of the stock is owned by institutional investors.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Thursday, February 29th. PepsiCo’s payout ratio is currently 76.09%.

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.