Shares of PepsiCo, Inc. (NASDAQ:PEP - Get Free Report) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $135.35, but opened at $141.70. PepsiCo shares last traded at $144.10, with a volume of 9,332,095 shares changing hands.
The company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.09. PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The company had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same quarter last year, the firm earned $2.28 EPS. PepsiCo's revenue for the quarter was up 1.0% compared to the same quarter last year.
PepsiCo Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were issued a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend was Friday, June 6th. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio (DPR) is presently 83.68%.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the company. Evercore ISI set a $140.00 price objective on PepsiCo in a report on Thursday, April 24th. Cowen reissued a "hold" rating on shares of PepsiCo in a report on Thursday. Bank of America decreased their price objective on PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, July 11th. Morgan Stanley upped their price target on PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, Dbs Bank lowered PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $159.50.
View Our Latest Report on PEP
Institutional Investors Weigh In On PepsiCo
A number of institutional investors and hedge funds have recently made changes to their positions in the company. TAGStone Capital Inc. raised its position in shares of PepsiCo by 2.8% during the fourth quarter. TAGStone Capital Inc. now owns 2,527 shares of the company's stock worth $388,000 after acquiring an additional 70 shares during the last quarter. Lokken Investment Group LLC increased its holdings in PepsiCo by 0.9% in the fourth quarter. Lokken Investment Group LLC now owns 7,699 shares of the company's stock valued at $1,171,000 after purchasing an additional 70 shares during the last quarter. Legacy Financial Group LLC increased its holdings in PepsiCo by 4.9% in the first quarter. Legacy Financial Group LLC now owns 1,514 shares of the company's stock valued at $227,000 after purchasing an additional 71 shares during the last quarter. Dogwood Wealth Management LLC increased its holdings in PepsiCo by 15.4% in the second quarter. Dogwood Wealth Management LLC now owns 539 shares of the company's stock valued at $73,000 after purchasing an additional 72 shares during the last quarter. Finally, Atlantic Private Wealth LLC increased its holdings in PepsiCo by 37.5% in the fourth quarter. Atlantic Private Wealth LLC now owns 275 shares of the company's stock valued at $42,000 after purchasing an additional 75 shares during the last quarter. Institutional investors own 73.07% of the company's stock.
PepsiCo Stock Down 1.5%
The business has a fifty day moving average of $131.97 and a 200 day moving average of $141.24. The firm has a market cap of $196.39 billion, a P/E ratio of 21.06, a P/E/G ratio of 4.23 and a beta of 0.45. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13.
PepsiCo Company Profile
(
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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.
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