PepsiCo, Inc. (NASDAQ:PEP) Expected to Post Quarterly Sales of $16.97 Billion

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Wall Street brokerages expect PepsiCo, Inc. (NASDAQ:PEP) to report sales of $16.97 billion for the current quarter, Zacks reports. Five analysts have made estimates for PepsiCo’s earnings, with the highest sales estimate coming in at $17.09 billion and the lowest estimate coming in at $16.86 billion. PepsiCo reported sales of $16.49 billion in the same quarter last year, which indicates a positive year over year growth rate of 2.9%. The company is scheduled to announce its next earnings results before the market opens on Thursday, October 3rd.

According to Zacks, analysts expect that PepsiCo will report full-year sales of $66.63 billion for the current fiscal year, with estimates ranging from $66.08 billion to $67.09 billion. For the next fiscal year, analysts expect that the company will report sales of $69.29 billion, with estimates ranging from $68.42 billion to $69.95 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow PepsiCo.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, July 9th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.05. The company had revenue of $16.45 billion during the quarter, compared to analyst estimates of $16.44 billion. PepsiCo had a return on equity of 59.50% and a net margin of 19.59%. PepsiCo’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.61 EPS.

PEP has been the topic of several recent research reports. Wells Fargo & Co upped their price target on PepsiCo from $120.00 to $127.00 and gave the stock a “positive” rating in a research note on Tuesday, May 14th. Bank of America upped their price objective on PepsiCo from $135.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. UBS Group upped their price objective on PepsiCo from $130.00 to $132.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. BMO Capital Markets reissued an “average” rating and set a $128.00 price target on shares of PepsiCo in a report on Wednesday, July 10th. Finally, Argus reissued a “buy” rating on shares of PepsiCo in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $129.35.

Shares of PEP stock traded up $0.56 during midday trading on Friday, reaching $132.32. 551,005 shares of the stock were exchanged, compared to its average volume of 4,696,708. PepsiCo has a 1 year low of $104.53 and a 1 year high of $135.24. The company’s 50 day moving average is $130.78 and its two-hundred day moving average is $125.26. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 1.97. The firm has a market cap of $182.77 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 3.39 and a beta of 0.60.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a $0.955 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.82 annualized dividend and a yield of 2.89%. PepsiCo’s dividend payout ratio is currently 67.49%.

In other news, CEO Kirk Tanner sold 9,573 shares of PepsiCo stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $128.15, for a total transaction of $1,226,779.95. Following the completion of the sale, the chief executive officer now owns 105,350 shares of the company’s stock, valued at $13,500,602.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steven C. Williams sold 2,420 shares of PepsiCo stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $133.95, for a total transaction of $324,159.00. Following the sale, the chief executive officer now directly owns 54,920 shares of the company’s stock, valued at approximately $7,356,534. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its holdings in PepsiCo by 10,622.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,704,199 shares of the company’s stock valued at $314,000 after buying an additional 34,380,553 shares during the period. Nuveen Asset Management LLC increased its holdings in PepsiCo by 9,617.2% during the second quarter. Nuveen Asset Management LLC now owns 9,770,327 shares of the company’s stock valued at $1,281,183,000 after buying an additional 9,669,780 shares during the period. BlackRock Inc. increased its holdings in PepsiCo by 2.4% during the fourth quarter. BlackRock Inc. now owns 97,102,071 shares of the company’s stock valued at $10,727,836,000 after buying an additional 2,275,511 shares during the period. Thoroughbred Financial Services LLC increased its holdings in PepsiCo by 13,410.8% during the second quarter. Thoroughbred Financial Services LLC now owns 1,806,262 shares of the company’s stock valued at $180,626,000 after buying an additional 1,792,893 shares during the period. Finally, California Public Employees Retirement System increased its holdings in PepsiCo by 34.2% during the fourth quarter. California Public Employees Retirement System now owns 6,285,045 shares of the company’s stock valued at $694,372,000 after buying an additional 1,600,360 shares during the period. 71.83% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Company Profile

PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.

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Earnings History and Estimates for PepsiCo (NASDAQ:PEP)

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