Wedbush Comments on PepsiCo, Inc.’s Q2 2024 Earnings (NASDAQ:PEP)

PepsiCo, Inc. (NASDAQ:PEP) – Stock analysts at Wedbush decreased their Q2 2024 earnings per share estimates for shares of PepsiCo in a research note issued to investors on Wednesday, April 24th. Wedbush analyst G. Pascarelli now expects that the company will post earnings per share of $2.15 for the quarter, down from their prior 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 $8.16 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.

PepsiCo (NASDAQ:PEP) last posted 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 return on equity of 57.37% and a net margin of 10.00%. The company had revenue of $18.25 billion for the quarter, compared to the consensus estimate of $18.08 billion. During the same period in the previous year, the business earned $1.50 EPS. PepsiCo’s revenue for the quarter was up 2.3% compared to the same quarter last year.

PEP has been the subject of a number of other reports. Argus downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Monday, February 12th. JPMorgan Chase & Co. upped their price objective on PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a research note on Wednesday. Jefferies Financial Group upped their price objective on PepsiCo from $199.00 to $209.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a research note on Monday, March 18th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $187.42.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $175.58 on Thursday. PepsiCo has a twelve month low of $155.83 and a twelve month high of $196.88. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $241.39 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 2.80 and a beta of 0.53. The business has a 50 day simple moving average of $169.40 and a 200-day simple moving average of $167.86.

Institutional Investors Weigh In On PepsiCo

Several hedge funds have recently modified their holdings of the stock. Trueblood Wealth Management LLC raised its position in PepsiCo by 5.1% during the first quarter. Trueblood Wealth Management LLC now owns 5,512 shares of the company’s stock valued at $965,000 after buying an additional 269 shares during the period. Pavion Blue Capital LLC raised its position in PepsiCo by 8.2% during the first quarter. Pavion Blue Capital LLC now owns 40,408 shares of the company’s stock valued at $7,072,000 after buying an additional 3,073 shares during the period. Narwhal Capital Management raised its position in PepsiCo by 4.8% during the first quarter. Narwhal Capital Management now owns 55,995 shares of the company’s stock valued at $9,800,000 after buying an additional 2,573 shares during the period. MBA Advisors LLC raised its position in PepsiCo by 3.6% during the first quarter. MBA Advisors LLC now owns 6,340 shares of the company’s stock valued at $1,110,000 after buying an additional 218 shares during the period. Finally, Highview Capital Management LLC DE raised its position in PepsiCo by 11.4% during the first quarter. Highview Capital Management LLC DE now owns 3,779 shares of the company’s stock valued at $661,000 after buying an additional 387 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued 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 is 76.09%.

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.