5 Best Beverage Stocks To Buy

1. PepsiCo, Inc. (NASDAQ:PEP)

Number of Hedge Fund Holders: 70

PepsiCo, Inc. (NASDAQ:PEP) manufactures, markets, and sells various beverages and convenient foods worldwide. It is one of the premier beverage stocks to invest in. On April 25, PepsiCo, Inc. (NASDAQ:PEP) reported a Q1 non-GAAP EPS of $1.50 and a revenue of $17.85 billion, outperforming Wall Street estimates by $0.11 and $580 million, respectively. 

On April 27, Barclays raised the firm’s price target on PepsiCo, Inc. (NASDAQ:PEP) to $206 from $201 and kept an Overweight rating on the shares. In a research note to investors, the firm highlighted that PepsiCo, with its first-quarter performance, has revised its projections for organic sales and core profit growth, indicating positive outlook and potential for growth.

According to Insider Monkey’s fourth quarter database, 70 hedge funds were bullish on PepsiCo, Inc. (NASDAQ:PEP), compared to 72 funds in the prior quarter. Terry Smith’s Fundsmith LLP is the biggest stakeholder of the company, with 6.65 million shares worth $1.20 billion. 

Madison Sustainable Equity Fund made the following comment about PepsiCo, Inc. (NASDAQ:PEP) in its Q1 2023 investor letter:

“PepsiCo, Inc. (NASDAQ:PEP) announced that it will commit $3.3 million in funds toward water replenishment projects across North America. These projects aim to reduce absolute water use and replenish back into the local watershed more than 100% of the water used at company-owned and third-part sites in high water-risk areas.”

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily enewsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also check out 12 Gene Editing Stocks With the Best Long-Term Potential and Top 20 Companies in Pakistan.