PepsiCo (PEP) Set to Announce Earnings on Thursday

PepsiCo (NASDAQ:PEP) is set to post its quarterly earnings results before the market opens on Thursday, July 11th. Analysts expect PepsiCo to post earnings of $2.16 per share for the quarter. PepsiCo has set its FY24 guidance at at least $8.15 EPS and its FY 2024 guidance at 8.150- EPS.Parties interested in listening to the company’s conference call can do so using this link.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.09. The business had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.50 earnings per share. On average, analysts expect PepsiCo to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

PepsiCo Price Performance

NASDAQ PEP opened at $161.90 on Wednesday. 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 1 year low of $155.83 and a 1 year high of $192.38. The stock’s 50-day moving average price is $171.59 and its two-hundred day moving average price is $170.07. The company has a market cap of $222.58 billion, a PE ratio of 24.35, a PEG ratio of 2.70 and a beta of 0.52.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were paid a $1.355 dividend. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Friday, June 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.35%. PepsiCo’s payout ratio is presently 81.50%.

Insider Buying and Selling at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of PepsiCo stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the sale, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the subject of a number of recent analyst reports. Morgan Stanley raised PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research report on Monday, March 18th. Wedbush reissued an “outperform” rating and issued a $195.00 target price on shares of PepsiCo in a report on Tuesday, April 23rd. Bank of America dropped their price objective on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a report on Monday. BNP Paribas started coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective for the company. Finally, Barclays dropped their price objective on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, June 12th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $186.13.

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.