PepsiCo (PEP) Set to Announce Quarterly Earnings on Tuesday

PepsiCo (NASDAQ:PEP) is scheduled to be issuing its quarterly earnings data before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $1.52 per share for the quarter. PepsiCo has set its FY 2024 guidance at 8.150- EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Friday, February 9th. The company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. The company had revenue of $27.84 billion during the quarter, compared to the consensus estimate of $28.40 billion. PepsiCo had a net margin of 9.92% and a return on equity of 58.03%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.67 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 $166.95 on Tuesday. The stock’s 50-day moving average price is $168.70 and its two-hundred day moving average price is $167.38. The company has a current ratio of 0.85, a quick ratio of 0.68 and a debt-to-equity ratio of 2.02. The company has a market cap of $229.47 billion, a PE ratio of 25.41, a PEG ratio of 2.64 and a beta of 0.53. PepsiCo has a 1 year low of $155.83 and a 1 year high of $196.88.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was Thursday, February 29th. PepsiCo’s dividend payout ratio (DPR) is 77.02%.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of research reports. 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 report on Monday, March 18th. Argus lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Barclays boosted their price target on PepsiCo from $183.00 to $184.00 and gave the company an “overweight” rating in a research note on Friday. Jefferies Financial Group upped their target price on PepsiCo from $199.00 to $209.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on PepsiCo from $181.00 to $184.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $186.92.

Institutional Investors Weigh In On PepsiCo

A number of hedge funds and other institutional investors have recently modified their holdings of PEP. Moneta Group Investment Advisors LLC lifted its position in shares of PepsiCo by 95,514.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 42,876,248 shares of the company’s stock valued at $7,746,023,000 after buying an additional 42,831,405 shares during the last quarter. Morgan Stanley raised its holdings in shares of PepsiCo by 21.0% in the 4th quarter. Morgan Stanley now owns 26,720,027 shares of the company’s stock valued at $4,827,240,000 after acquiring an additional 4,629,947 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of PepsiCo by 10.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,264,902 shares of the company’s stock valued at $2,555,040,000 after acquiring an additional 1,427,405 shares in the last quarter. Norges Bank bought a new position in shares of PepsiCo during the 4th quarter valued at about $2,519,707,000. Finally, Legal & General Group Plc increased its position in shares of PepsiCo by 28.9% during the 4th quarter. Legal & General Group Plc now owns 12,942,759 shares of the company’s stock valued at $2,198,199,000 after purchasing an additional 2,903,875 shares during the last quarter. Institutional investors and hedge funds 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.