PepsiCo (NASDAQ:PEP) Posts Quarterly Earnings Results

PepsiCo (NASDAQ:PEP - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.52 by $0.09, Briefing.com reports. PepsiCo had a return on equity of 58.03% and a net margin of 9.92%. The business had revenue of $18.25 billion for the quarter, compared to the consensus estimate of $18.08 billion. During the same period in the prior year, the business posted $1.50 earnings per share. The company's quarterly revenue was up 2.3% compared to the same quarter last year. PepsiCo updated its FY24 guidance to at least $8.15 EPS and its FY 2024 guidance to 8.150- EPS.

PepsiCo Stock Up 3.6 %

NASDAQ PEP traded up $6.19 during midday trading on Wednesday, hitting $177.41. 10,011,958 shares of the company traded hands, compared to its average volume of 5,852,656. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.85 and a quick ratio of 0.68. The company has a market cap of $243.85 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 2.77 and a beta of 0.53. The company's 50-day simple moving average is $169.04 and its 200-day simple moving average is $167.70. PepsiCo has a 52 week low of $155.83 and a 52 week high of $196.88.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a dividend of $1.265 per share. The ex-dividend date was Thursday, February 29th. This represents a $5.06 annualized dividend and a yield of 2.85%. PepsiCo's payout ratio is currently 77.02%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Wedbush restated an "outperform" rating and set a $195.00 price objective on shares of PepsiCo in a research report on Tuesday. Citigroup upgraded PepsiCo from a "neutral" rating to a "buy" rating and upped their price objective for the company from $180.00 to $195.00 in a research report on Monday, February 12th. Barclays upped their price objective on PepsiCo from $183.00 to $184.00 and gave the company an "overweight" rating in a research report on Friday, April 12th. JPMorgan Chase & Co. increased their price target on PepsiCo from $178.00 to $181.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Morgan Stanley upgraded PepsiCo from an "equal weight" rating to an "overweight" rating and set a $190.00 price target on the stock in a report on Monday, March 18th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $187.33.

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.