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

PepsiCo, Inc. (NASDAQ:PEP) – Investment analysts at Wedbush reduced their Q2 2024 earnings estimates for PepsiCo in a note issued to investors on Wednesday, April 24th. Wedbush analyst G. Pascarelli now forecasts that the company will post earnings of $2.15 per share for the quarter, down from their prior forecast of $2.23. Wedbush has a “Outperform” rating and a $195.00 price objective 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 equities analysts have also issued reports on PEP. JPMorgan Chase & Co. upped their target price on shares of PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a research report on Wednesday. StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Monday, February 12th. Citigroup upgraded shares of PepsiCo from a “neutral” rating to a “buy” rating and upped their target price for the stock from $180.00 to $195.00 in a research report on Monday, February 12th. 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 research note on Friday, February 9th. Finally, Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $187.33.

PepsiCo Price Performance

Shares of PEP stock opened at $177.41 on Thursday. PepsiCo has a 1 year low of $155.83 and a 1 year high of $196.88. The firm’s 50 day moving average is $169.04 and its 200-day moving average is $167.70. The firm has a market capitalization of $243.85 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 2.69 and a beta of 0.53. 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 (NASDAQ:PEP) last released 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. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The firm had revenue of $18.25 billion for the quarter, compared to analyst estimates of $18.08 billion. During the same period in the previous year, the business earned $1.50 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a $1.265 dividend. 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 payout ratio is presently 76.09%.

Institutional Investors Weigh In On PepsiCo

Large investors have recently bought and sold shares of the company. Park Place Capital Corp increased its position in shares of PepsiCo by 7.1% during the third quarter. Park Place Capital Corp now owns 4,975 shares of the company’s stock worth $843,000 after acquiring an additional 330 shares in the last quarter. BTC Capital Management Inc. increased its position in shares of PepsiCo by 0.3% during the third quarter. BTC Capital Management Inc. now owns 66,708 shares of the company’s stock worth $11,303,000 after acquiring an additional 175 shares in the last quarter. Founders Financial Securities LLC increased its position in shares of PepsiCo by 15.1% during the third quarter. Founders Financial Securities LLC now owns 2,100 shares of the company’s stock worth $356,000 after acquiring an additional 276 shares in the last quarter. SJS Investment Consulting Inc. increased its position in shares of PepsiCo by 1.8% during the third quarter. SJS Investment Consulting Inc. now owns 11,885 shares of the company’s stock worth $2,014,000 after acquiring an additional 209 shares in the last quarter. Finally, Cedar Brook Financial Partners LLC increased its position in shares of PepsiCo by 5.8% during the third quarter. Cedar Brook Financial Partners LLC now owns 3,663 shares of the company’s stock worth $621,000 after acquiring an additional 202 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

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.