Wedbush analyst Gerald Pascarelli maintains PepsiCo (NASDAQ:PEP) with a Outperform and raises the price target from $200 to $206.
Morgan Stanley analyst Dara Mohsenian downgrades PepsiCo (NASDAQ:PEP) from Overweight to Equal-Weight and announces $210 price target.
The Board of Directors of PepsiCo, Inc. (NASDAQ: PEP) today declared a quarterly dividend of $1.265 per share of PepsiCo common stock, a 10 percent increase versus the comparable year-earlier period. Today’s action is consistent with PepsiCo’s previously announced increase in its annualized dividend to $5.06 per share from $4.60 per share, which began with the June 2023 payment. This dividend is payable on September 29, 2023 to shareholders of record at the close of business on September 1, 2023.
UBS analyst Peter Grom maintains PepsiCo (NASDAQ:PEP) with a Buy and raises the price target from $195 to $205.
Bernstein analyst Callum Elliott upgrades PepsiCo (NASDAQ:PEP) from Underperform to Market Perform.
Deutsche Bank analyst Steve Powers maintains PepsiCo (NASDAQ:PEP) with a Hold and raises the price target from $186 to $188.
Credit Suisse: Raised its price target on Pepsico, Inc. (NASDAQ:PEP) to $182 from $175.
Pepsico, Inc. (NASDAQ:PEP) CFO said there will be no further price hikes, with most of the year’s price increases already in place.
Pepsico, Inc. (NASDAQ: PEP) reported Q4 non-GAAP earnings Thursday of $1.67 per diluted share, up from $1.53 a year earlier. Analysts polled by Capital IQ expected $1.65. Revenue for the quarter ended Dec. 31 was $28 billion, up from $25.25 billion a year earlier. Analysts surveyed by Capital IQ expected $26.82 billion. For 2023, the company is expecting core earnings of $7.20 per share. Analysts surveyed by Capital IQ are expecting $7.30. The company said it expects a 6% increase in organic revenue for full-year 2023. Total cash returns to shareholders are expected to be $7.7 billion, including dividends of $6.7 billion and share repurchases of $1 billion. Further, the company raised its annualized dividend to $5.06 per share from $4.60. The increase is effective with the dividend expected to be paid in June.
Pepsico, Inc. (NASDAQ: PEP) reported fourth-quarter 2022 net revenue of $28.00 billion, up 11% year-over-year, and $26.88 billion in pro forma, and core earnings per share of $1.67, compared to $1.53 in the year-ago quarter, compared to $1.64 pro forma. The company expects core EPS of $7.20 in 2023 versus $7.26 market estimate.