Is PepsiCo Stock a Buy for 2024?
Investors are about to learn a lot about 's (NASDAQ: PEP) momentum heading into fiscal 2024. The snack and beverage giant will announce its Q4 results in early February, likely confirming that demand trends held up well through late December despite slower consumer spending in some parts of the economy.
Pepsi will also issue its first official 2024 forecast, along with a new outlook on its capital return plans. These updates could spark volatility for the stock around the Feb. 9 earnings report. But investors are better off ignoring that noise to focus on Pepsi's wider ambitions and opportunities for 2024 and beyond. Let's take a closer look.
Pepsi entered the Q4 period with the wind at its back. Organic revenue was up 9% last quarter thanks to solid growth across the drink and snack portfolio. Each of Pepsi's product categories and geographic markets contributed to these gains, keeping the company on pace to increase sales by 10% this year on top of last year's 14% spike.
Source Fool.com
PepsiCo Inc. Stock
PepsiCo Inc. is currently one of the favorites of our community with 16 Buy predictions and no Sell predictions.
With a target price of 178 € there is a slightly positive potential of 11.68% for PepsiCo Inc. compared to the current price of 159.38 €.
