PepsiCo, Inc. (NASDAQ:PEP) to Post Q3 2024 Earnings of $2.40 Per Share, Zacks Research Forecasts

PepsiCo, Inc. (NASDAQ:PEP) – Equities research analysts at Zacks Research decreased their Q3 2024 earnings per share (EPS) estimates for shares of PepsiCo in a note issued to investors on Tuesday, May 7th. Zacks Research analyst R. Lohia now expects that the company will earn $2.40 per share for the quarter, down from their previous forecast of $2.41. The consensus estimate for PepsiCo’s current full-year earnings is $8.16 per share. Zacks Research also issued estimates for PepsiCo’s Q1 2025 earnings at $1.74 EPS and FY2025 earnings at $8.81 EPS.

A number of other research analysts have also commented on PEP. Jefferies Financial Group increased their price objective on PepsiCo from $199.00 to $209.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research report on Monday, March 18th. Citigroup upgraded shares of PepsiCo from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $180.00 to $195.00 in a research report on Monday, February 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $180.00 price objective on shares of PepsiCo in a research note on Monday, February 12th. Finally, StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Monday, February 12th. 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 currently has an average rating of “Moderate Buy” and a consensus target price of $187.42.

PepsiCo Price Performance

Shares of PEP stock opened at $178.06 on Friday. The stock’s fifty day moving average is $170.96 and its 200-day moving average is $168.82. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. PepsiCo has a 52 week low of $155.83 and a 52 week high of $196.88. The stock has a market capitalization of $244.79 billion, a PE ratio of 26.78, a PEG ratio of 2.87 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.09. The firm 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 firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $1.50 EPS.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of PepsiCo in the 4th quarter valued at $2,686,139,000. International Assets Investment Management LLC grew its position in PepsiCo by 9,623.6% in the fourth quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock valued at $519,381,000 after acquiring an additional 3,026,611 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in PepsiCo during the third quarter worth about $329,179,000. Flossbach Von Storch AG lifted its holdings in shares of PepsiCo by 67.2% in the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after acquiring an additional 1,832,385 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of PepsiCo by 17.9% during the 4th quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after purchasing an additional 1,470,064 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, June 7th. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a dividend yield of 3.04%. PepsiCo’s dividend payout ratio (DPR) is currently 81.50%.

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.