PepsiCo (PEP) to Release Quarterly Earnings on Thursday

PepsiCo (NASDAQ:PEP) will be issuing its quarterly earnings data before the market opens on Thursday, July 11th. Analysts expect the company to announce earnings of $2.16 per share for the quarter. PepsiCo has set its FY24 guidance at at least $8.15 EPS and its FY 2024 guidance at 8.150- EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.52 by $0.09. The business had revenue of $18.25 billion during the quarter, compared to analysts’ expectations of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.50 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 Stock Performance

PepsiCo stock opened at $161.90 on Wednesday. PepsiCo has a twelve month low of $155.83 and a twelve month high of $192.38. 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 company has a market capitalization of $222.58 billion, a P/E ratio of 24.35, a PEG ratio of 2.70 and a beta of 0.52. The stock’s 50 day moving average is $171.59 and its 200 day moving average is $170.07.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a dividend of $1.355 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Friday, June 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.35%. PepsiCo’s dividend payout ratio is currently 81.50%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PEP shares. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price for the company in a report on Monday, March 18th. Argus cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Barclays decreased their price objective on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, June 12th. Bank of America decreased their price objective on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Monday. Finally, Jefferies Financial Group decreased their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $186.13.

Insider Buying and Selling

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of PepsiCo stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the completion of the sale, the chief executive officer now directly owns 53,953 shares in the company, valued at $9,603,634. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

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.