PepsiCo (NASDAQ:PEP) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

PepsiCo (NASDAQ:PEP) issued its quarterly earnings results on Tuesday. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.09, Briefing.com reports. PepsiCo had a return on equity of 58.03% and a net margin of 9.92%. The business had revenue of $18.25 billion for the quarter, compared to analyst estimates of $18.08 billion. During the same quarter in the prior year, the firm posted $1.50 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. PepsiCo updated its FY24 guidance to at least $8.15 EPS and its FY 2024 guidance to 8.150- EPS.

PepsiCo Stock Performance

Shares of PEP traded up $1.52 during mid-day trading on Wednesday, hitting $172.74. 1,831,636 shares of the company’s stock were exchanged, compared to its average volume of 5,747,046. PepsiCo has a 52 week low of $155.83 and a 52 week high of $196.88. The stock’s 50-day simple moving average is $168.84 and its 200-day simple moving average is $167.63. The firm has a market cap of $237.43 billion, a price-to-earnings ratio of 25.76, a price-to-earnings-growth ratio of 2.77 and a beta of 0.53. The company has a quick ratio of 0.68, a current ratio of 0.85 and a debt-to-equity ratio of 2.02.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a dividend of $1.265 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $5.06 annualized dividend and a dividend yield of 2.93%. PepsiCo’s dividend payout ratio is presently 77.02%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PEP shares. Barclays upped their price target on PepsiCo from $183.00 to $184.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a research report on Monday, March 18th. Royal Bank of Canada reissued a “sector perform” rating and issued a $180.00 price target on shares of PepsiCo in a report on Monday, February 12th. Argus lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, Jefferies Financial Group boosted their price target on shares of PepsiCo from $199.00 to $209.00 and gave the company a “buy” rating in a report on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, PepsiCo has an average rating of “Moderate Buy” and an average target price of $186.92.

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.