PepsiCo’s (PEP) Outperform Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of PepsiCo (NASDAQ:PEP) in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a $195.00 price objective on the stock. Wedbush also issued estimates for PepsiCo’s Q2 2024 earnings at $2.15 EPS, 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.

Several other brokerages have also recently weighed in on PEP. Deutsche Bank Aktiengesellschaft lifted their price target 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. Barclays lifted their price target on PepsiCo from $183.00 to $184.00 and gave the company an overweight rating in a research report on Friday, April 12th. Royal Bank of Canada reiterated a sector perform rating and set a $180.00 price target on shares of PepsiCo in a research report on Monday, February 12th. Finally, Morgan Stanley upgraded PepsiCo from an equal weight rating to an overweight rating and set a $190.00 price target for the company in a research report on Monday, March 18th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $187.42.

PepsiCo Stock Down 0.4 %

Shares of PEP stock opened at $176.68 on Tuesday. The stock’s 50-day simple moving average is $169.22 and its 200-day simple moving average is $167.76. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. The firm has a market capitalization of $242.90 billion, a PE ratio of 26.57, a P/E/G ratio of 2.80 and a beta of 0.53. PepsiCo has a fifty-two week low of $155.83 and a fifty-two week high of $196.88.

PepsiCo (NASDAQ:PEP) last announced 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. The business had revenue of $18.25 billion for the quarter, compared to analyst estimates of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.50 earnings per share. Equities analysts expect that PepsiCo will post 8.16 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were given a dividend of $1.265 per share. This represents a $5.06 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Thursday, February 29th. PepsiCo’s payout ratio is 76.09%.

Institutional Trading of PepsiCo

Several large investors have recently made changes to their positions in PEP. Norges Bank purchased a new stake in shares of PepsiCo during the fourth quarter worth approximately $2,686,139,000. International Assets Investment Management LLC boosted its stake in PepsiCo by 9,623.6% during the fourth quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock worth $519,381,000 after buying 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 $329,179,000. Flossbach Von Storch AG boosted its stake in PepsiCo by 121.4% during the fourth quarter. Flossbach Von Storch AG now owns 2,727,622 shares of the company’s stock worth $463,259,000 after buying an additional 1,495,586 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in PepsiCo by 17.9% during the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after buying an additional 1,470,064 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other 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.