Q2 2024 EPS Estimates for PepsiCo, Inc. (NASDAQ:PEP) Cut by Wedbush

PepsiCo, Inc. (NASDAQ:PEP) – Equities research analysts at Wedbush reduced their Q2 2024 earnings per share (EPS) estimates for PepsiCo in a report issued on Wednesday, April 24th. Wedbush analyst G. Pascarelli now forecasts that the company will earn $2.15 per share for the quarter, down from their previous 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.

Other analysts also recently issued research reports about the company. Citigroup raised PepsiCo from a “neutral” rating to a “buy” rating and raised their price target for the stock from $180.00 to $195.00 in a report on Monday, February 12th. Royal Bank of Canada restated a “sector perform” rating and issued a $180.00 target price on shares of PepsiCo in a research report on Monday, February 12th. Deutsche Bank Aktiengesellschaft raised their target price on PepsiCo from $181.00 to $184.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Argus cut PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Finally, StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a research report on Monday, February 12th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.42.

PepsiCo Trading Down 0.4 %

NASDAQ:PEP opened at $176.68 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. The business’s 50 day moving average is $169.22 and its two-hundred day moving average is $167.76. PepsiCo has a 52 week low of $155.83 and a 52 week high of $196.88. The company has a market cap of $242.85 billion, a PE ratio of 26.57, a P/E/G ratio of 2.69 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The firm had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. During the same quarter last year, the firm earned $1.50 EPS. PepsiCo’s quarterly revenue was up 2.3% on a year-over-year basis.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a $1.265 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.86%. PepsiCo’s payout ratio is presently 76.09%.

Hedge Funds Weigh In On PepsiCo

A number of institutional investors have recently made changes to their positions in PEP. LFA Lugano Financial Advisors SA increased its stake in PepsiCo by 80.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock valued at $27,000 after acquiring an additional 70 shares during the period. Fortis Group Advisors LLC boosted its holdings in PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after purchasing an additional 97 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in PepsiCo during the first quarter valued at approximately $35,000. Life Planning Partners Inc acquired a new position in shares of PepsiCo in the 4th quarter worth approximately $34,000. Finally, Naples Money Management LLC acquired a new position in shares of PepsiCo in the 4th quarter worth approximately $36,000. 73.07% of the stock is currently owned by institutional investors.

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.