5 Best Confectionery, Cookie and Snack Stocks to Buy

1. PepsiCo, Inc. (NASDAQ:PEP)

Number of Hedge Fund Holders: 70

PepsiCo, Inc. (NASDAQ:PEP) is a consumer staples company that offers food and beverage products. Its snack products include cheese-flavored snacks, tortilla chips, granola bars, and more under various brands like Lay’s, Doritos, and Cheetos.

An Overweight rating was reiterated on PepsiCo, Inc. (NASDAQ:PEP) shares on April 27 by Barclays analysts.

Analysts have placed an average price target of $196.46 on PepsiCo, Inc. (NASDAQ:PEP), which was trading at $190.89 on April 30. This gives the stock an upside potential of 2.92%.

PepsiCo, Inc. (NASDAQ:PEP) was found among the 13F holdings of 70 hedge funds in the fourth quarter, with a total stake value of $4.4 billion.

Madison Investments, an investment advisor, mentioned PepsiCo, Inc. (NASDAQ:PEP) in its first-quarter 2023 investor letter. Here’s what the firm said:

“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.”

See also 16 Biggest Fast Food Companies in the World and 25 Most Valuable Food Companies in the World.