PepsiCo (NASDAQ:PEP) Updates FY 2024 Earnings Guidance

PepsiCo (NASDAQ:PEP) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 8.150- for the period, compared to the consensus estimate of 7.530. The company issued revenue guidance of -. PepsiCo also updated its FY24 guidance to at least $8.15 EPS.

Analyst Ratings Changes

Several equities analysts recently issued reports on PEP shares. Bank of America cut their price target on shares of PepsiCo from $210.00 to $190.00 and set a buy rating for the company in a report on Monday, July 8th. JPMorgan Chase & Co. reduced their target price on PepsiCo from $184.00 to $182.00 and set a neutral rating on the stock in a report on Friday. Royal Bank of Canada dropped their price target on PepsiCo from $180.00 to $177.00 and set a sector perform rating for the company in a report on Friday. Jefferies Financial Group reduced their price objective on PepsiCo from $210.00 to $200.00 and set a buy rating on the stock in a research note on Tuesday, July 9th. Finally, Morgan Stanley lowered their target price on PepsiCo from $190.00 to $185.00 and set an overweight rating for the company in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $185.27.

PepsiCo Stock Up 1.5 %

Shares of NASDAQ:PEP opened at $166.38 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. The stock has a market cap of $228.74 billion, a price-to-earnings ratio of 24.15, a P/E/G ratio of 2.89 and a beta of 0.52. The company has a 50 day moving average of $170.93 and a 200-day moving average of $169.98. PepsiCo has a one year low of $155.83 and a one year high of $192.38.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.86%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.09 EPS. On average, sell-side analysts forecast that PepsiCo will post 8.15 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a $1.355 dividend. The ex-dividend date of this dividend was Friday, June 7th. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.26%. PepsiCo’s dividend payout ratio is 78.66%.

Insider Buying and Selling at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the stock in a transaction dated Thursday, May 9th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.15% 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.