PepsiCo (NASDAQ:PEP) Announces Earnings Results, Beats Expectations By $0.06 EPS

PepsiCo (NASDAQ:PEPGet Free Report) released its quarterly earnings results on Friday. The company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06, MarketWatch Earnings reports. The firm had revenue of $27.84 billion during the quarter, compared to analyst estimates of $28.40 billion. PepsiCo had a net margin of 9.05% and a return on equity of 58.28%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.67 EPS. PepsiCo updated its FY 2024 guidance to 8.150- EPS.

PepsiCo Price Performance

PEP stock opened at $167.67 on Friday. The firm has a 50-day moving average of $168.53 and a 200 day moving average of $171.18. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.88 and a quick ratio of 0.71. The company has a market cap of $230.52 billion, a P/E ratio of 25.52, a PEG ratio of 2.52 and a beta of 0.54. PepsiCo has a 1 year low of $155.83 and a 1 year high of $196.88.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 1st will be paid a dividend of $1.265 per share. This represents a $5.06 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Thursday, February 29th. PepsiCo’s payout ratio is 77.02%.

Institutional Investors Weigh In On PepsiCo

Hedge funds have recently made changes to their positions in the company. Moneta Group Investment Advisors LLC lifted its holdings in shares of PepsiCo by 95,514.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 42,876,248 shares of the company’s stock valued at $7,746,023,000 after purchasing an additional 42,831,405 shares during the last quarter. Norges Bank purchased a new position in PepsiCo during the fourth quarter valued at $2,519,707,000. Morgan Stanley boosted its holdings in PepsiCo by 21.0% in the fourth quarter. Morgan Stanley now owns 26,720,027 shares of the company’s stock worth $4,827,240,000 after acquiring an additional 4,629,947 shares in the last quarter. Imprint Wealth LLC increased its holdings in shares of PepsiCo by 17,366.3% during the second quarter. Imprint Wealth LLC now owns 1,745,760 shares of the company’s stock valued at $174,576,000 after acquiring an additional 1,735,765 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in PepsiCo by 10.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,264,902 shares of the company’s stock valued at $2,555,040,000 after purchasing an additional 1,427,405 shares during the last quarter. 71.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PEP shares. Wedbush reiterated an “outperform” rating and set a $195.00 price target on shares of PepsiCo in a research report on Friday. Barclays decreased their price target on shares of PepsiCo from $181.00 to $179.00 and set an “overweight” rating on the stock in a report on Tuesday, January 16th. Jefferies Financial Group began coverage on shares of PepsiCo in a report on Monday, November 13th. They set a “buy” rating and a $203.00 price objective for the company. DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $187.00 price target on the stock in a research report on Thursday, October 19th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on PepsiCo from $181.00 to $184.00 and gave the stock a “hold” rating in a report on Friday. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $186.31.

Read Our Latest Report on PepsiCo

About PepsiCo

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PepsiCo, Inc manufactures, markets, distributes, and sells 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.

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Earnings History for PepsiCo (NASDAQ:PEP)

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