PepsiCo, Inc. (NASDAQ:PEP) to Post Q2 2024 Earnings of $2.15 Per Share, Wedbush Forecasts

PepsiCo, Inc. (NASDAQ:PEP) – Stock analysts at Wedbush lowered their Q2 2024 earnings estimates for shares of PepsiCo in a report issued on Wednesday, April 24th. Wedbush analyst G. Pascarelli now anticipates that the company will post earnings of $2.15 per share 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 $8.15 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 analysts have also commented on the stock. Citigroup upgraded shares of PepsiCo from a “neutral” rating to a “buy” rating and boosted their price target for the company from $180.00 to $195.00 in a research note on Monday, February 12th. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Monday, February 12th. Barclays lifted their price objective on shares of PepsiCo from $183.00 to $184.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. JPMorgan Chase & Co. lifted their price objective on shares of PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of PepsiCo from $181.00 to $184.00 and gave the stock a “hold” rating in a report on Friday, February 9th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $187.33.

PepsiCo Stock Performance

Shares of PEP stock opened at $177.41 on Thursday. The firm has a market capitalization of $243.85 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 2.69 and a beta of 0.53. The firm has a fifty day simple moving average of $169.04 and a two-hundred day simple moving average of $167.70. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. PepsiCo has a 12 month low of $155.83 and a 12 month high of $196.88.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. The business had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. PepsiCo’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.50 EPS.

Institutional Investors Weigh In On PepsiCo

Institutional investors have recently added to or reduced their stakes in the business. LFA Lugano Financial Advisors SA increased its position in shares of PepsiCo by 80.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock valued at $27,000 after buying an additional 70 shares during the period. Fortis Group Advisors LLC increased its position in shares of PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after buying an additional 97 shares during the period. Life Planning Partners Inc bought a new stake in shares of PepsiCo during the fourth quarter valued at about $34,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of PepsiCo during the first quarter valued at about $35,000. Finally, Naples Money Management LLC bought a new stake in shares of PepsiCo during the fourth quarter valued at about $36,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a dividend of $1.265 per share. This represents a $5.06 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Thursday, February 29th. PepsiCo’s dividend payout ratio (DPR) is presently 76.09%.

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.