10 Best Halal Dividend Stocks To Invest In

6. PepsiCo, Inc. (NASDAQ:PEP)

Number of Hedge Fund Holders: 58

PepsiCo, Inc. (NASDAQ:PEP) is an American multinational food, beverage, and snack company. It owns an extensive portfolio of popular brands such as Pepsi, Mountain Dew, Gatorade, Lay’s, Doritos, and Quaker. In recent years, it has also expanded its product lineup through strategic acquisitions, adding a variety of Mediterranean and Mexican-American offerings. For investors looking for growing income, this leading American corporation is worth serious consideration.

PepsiCo, Inc. (NASDAQ:PEP)’s focus on expansion and acquisitions has driven steady growth in both revenue and profit, even though it is often viewed as a defensive, slower-growth stock. This stability, combined with its capacity to navigate inflationary pressures, makes the company a reliable investment option during economic downturns. That said, the stock experienced notable pressure in 2024 as investors shifted focus to higher-growth opportunities, compounded by external factors like deglobalization and concerns over the adoption of GLP-1 drugs. These challenges have resulted in a 10% drop over the past year, with shares reaching their lowest point since mid-2021, despite a revenue increase of over 15%.

PepsiCo, Inc. (NASDAQ:PEP)’s dividend history makes it a prominent company among income investors. The company has been growing its dividends for 52 consecutive years, achieving the status of a Dividend King. Moreover, it plans to pay $8.2 billion to shareholders through dividends and share repurchases in FY24. Its quarterly dividend comes in at $1.355 per share and has a dividend yield of 3.66%, as of January 22.

As per Insider Monkey’s database of Q3 2024, 58 hedge funds owned stakes in PepsiCo, Inc. (NASDAQ:PEP), down from 65 in the previous quarter. These stakes are collectively valued at over $4.44 billion. Ken Fisher’s Fisher Asset Management was the company’s leading stakeholder in Q3.