5 Best Consumer Stocks To Buy Now

3. PepsiCo, Inc. (NASDAQ:PEP)

Number of Hedge Fund Holders: 65

% Weight of iShares Global Consumer Staples ETF as of September 22: 4.49

PepsiCo, Inc. (NASDAQ:PEP), headquartered in Harrison, New York, is a food, snack, and beverage company. As of September 22, the company accounts for 4.49% of the iShares Global Consumer Staples ETF.

In August, Dara Mohsenian of Morgan Stanley wrote that he sees topline upside which could lead to EPS upside. Mohsenian has an Overweight rating on the company and $198 price target.

As of September 20, 2022, Fundsmith LLP is the largest shareholder in PepsiCo, Inc. (NASDAQ:PEP) in our database and holds a stake worth more than $1.2 billion. The investment covers 5.24% of Fundsmith LLP’s 13F portfolio.

Here is what ClearBridge Investments had to say about PepsiCo, Inc. (NYSE:PEP) in its second-quarter 2022 investor letter:

Also in the stable and predictable cash flow camp, though with a very different business model, global food and beverage company PepsiCo (NYSE:PEP) reported very strong organic growth in the first quarter, driven by healthy price/mix, and raised revenue guidance, while holding EPS guidance. Notably, its beverage business showed expanding margins.