Wedbush Reaffirms Outperform Rating for PepsiCo (NASDAQ:PEP)

Wedbush restated their outperform rating on shares of PepsiCo (NASDAQ:PEP) in a research report report published on Tuesday, Benzinga reports. The firm currently has a $195.00 price target on the stock. Wedbush also issued estimates for PepsiCo’s Q2 2024 earnings at $2.15 EPS, Q3 2024 earnings at $2.41 EPS, Q4 2024 earnings at $2.00 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.

PEP has been the subject of a number of other research reports. Jefferies Financial Group increased their price target on shares of PepsiCo from $199.00 to $209.00 and gave the company a buy rating in a research note on Friday, April 5th. Argus cut shares of PepsiCo from a buy rating to a hold rating in a research note on Wednesday, April 3rd. Royal Bank of Canada reissued a sector perform rating and issued a $180.00 target price on shares of PepsiCo in a report on Monday, February 12th. Barclays raised their target price on shares of PepsiCo from $183.00 to $184.00 and gave the company an overweight rating in a report on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of PepsiCo from $181.00 to $184.00 and gave the company a hold rating in a report on Friday, February 9th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $187.42.

PepsiCo Trading Down 0.6 %

Shares of NASDAQ PEP opened at $175.58 on Tuesday. The company’s 50 day simple moving average is $169.40 and its 200 day simple moving average is $167.86. PepsiCo has a fifty-two week low of $155.83 and a fifty-two week high of $196.88. The firm has a market capitalization of $241.39 billion, a P/E ratio of 26.40, a P/E/G ratio of 2.80 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The company had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. During the same quarter in the prior year, the firm earned $1.50 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. On average, analysts predict that PepsiCo will post 8.16 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a dividend of $1.265 per share. This represents a $5.06 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Thursday, February 29th. PepsiCo’s dividend payout ratio (DPR) is presently 76.09%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of PepsiCo during the 4th quarter valued at $2,686,139,000. International Assets Investment Management LLC lifted its stake in PepsiCo by 9,623.6% during the 4th quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock valued at $519,381,000 after acquiring an additional 3,026,611 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of PepsiCo during the 3rd quarter valued at about $329,179,000. Flossbach Von Storch AG increased its position in shares of PepsiCo by 121.4% during the 4th quarter. Flossbach Von Storch AG now owns 2,727,622 shares of the company’s stock valued at $463,259,000 after purchasing an additional 1,495,586 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in PepsiCo by 17.9% in the 4th quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after acquiring an additional 1,470,064 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

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.