PepsiCo (NASDAQ:PEP) Updates FY 2024 Earnings Guidance

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

PepsiCo Stock Up 0.2 %

NASDAQ PEP opened at $163.95 on Friday. The firm has a market cap of $225.40 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 2.84 and a beta of 0.52. PepsiCo has a one year low of $155.83 and a one year high of $192.38. The stock’s 50 day simple moving average is $171.12 and its 200 day simple moving average is $169.99. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.09 EPS. As a group, sell-side analysts forecast that PepsiCo will post 8.15 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a $1.355 dividend. 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 3.31%. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio is currently 81.50%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PEP. Barclays lowered 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. Jefferies Financial Group decreased their price objective on PepsiCo from $210.00 to $200.00 and set a buy rating for the company in a report on Tuesday. Argus downgraded PepsiCo from a buy rating to a hold rating in a report on Wednesday, April 3rd. Morgan Stanley raised PepsiCo from an equal weight rating to an overweight rating and set a $190.00 price objective for the company in a report on Monday, March 18th. Finally, Wells Fargo & Company cut their price objective on PepsiCo from $175.00 to $170.00 and set an equal weight rating for the company in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $186.00.

Insider Buying and Selling at PepsiCo

In other news, CEO Ramkumar Krishnan sold 5,620 shares of PepsiCo stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the sale, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at $9,603,634. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

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.