PepsiCo (NASDAQ:PEP) Releases Earnings Results

PepsiCo (NASDAQ:PEP – Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.01, FiscalAI reports. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The company had revenue of $24.18 billion during the quarter, compared to the consensus estimate of $23.95 billion. During the same period last year, the business earned $0.92 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis.

PepsiCo Stock Performance

Shares of PEP opened at $135.96 on Thursday. The stock has a 50 day moving average price of $146.14 and a 200 day moving average price of $151.63. The company has a market capitalization of $185.82 billion, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 2.92 and a beta of 0.36. PepsiCo has a 52-week low of $133.63 and a 52-week high of $171.48. The company has a quick ratio of 0.72, a current ratio of 0.90 and a debt-to-equity ratio of 1.98.

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PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 5th were paid a dividend of $1.48 per share. The ex-dividend date was Friday, June 5th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a yield of 4.4%. PepsiCo’s dividend payout ratio (DPR) is presently 92.94%.

Wall Street Analysts Forecast Growth

PEP has been the topic of a number of recent research reports. Bank of America decreased their price objective on PepsiCo from $173.00 to $164.00 and set a “neutral” rating on the stock in a report on Thursday, June 25th. HSBC increased their price target on shares of PepsiCo from $175.00 to $176.00 and gave the company a “hold” rating in a research note on Friday, April 17th. Citigroup lowered their target price on shares of PepsiCo from $182.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, June 25th. Evercore lifted their price target on PepsiCo from $165.00 to $170.00 in a research report on Friday, April 17th. Finally, Jefferies Financial Group set a $162.00 price target on PepsiCo in a research report on Thursday, June 25th. Eight equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average price target of $164.40.

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Hedge Funds Weigh In On PepsiCo

Hedge funds have recently modified their holdings of the business. Swiss RE Ltd. purchased a new position in PepsiCo during the 4th quarter worth $28,000. Imprint Wealth LLC acquired a new position in PepsiCo in the 3rd quarter valued at about $31,000. Binnacle Investments Inc grew its stake in shares of PepsiCo by 33.2% in the 2nd quarter. Binnacle Investments Inc now owns 285 shares of the company’s stock valued at $38,000 after purchasing an additional 71 shares during the last quarter. Strive Asset Management LLC acquired a new position in shares of PepsiCo in the third quarter valued at approximately $48,000. Finally, Wealth Watch Advisors INC acquired a new stake in shares of PepsiCo during the third quarter worth $67,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting PepsiCo

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo beat revenue expectations, with global demand and international markets offsetting weaker North American sales. 5 Things to Know Before the Stock Market Opens on Thursday
• Positive Sentiment: Investors appear to be rewarding signs that PepsiCo’s turnaround efforts, including pricing actions and product changes, are helping stabilize performance. PepsiCo Stock Rises After Earnings Beat as Turnaround Plan Takes Hold

PepsiCo Company Profile

(Get Free Report)

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.

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