5 Best Food Stocks To Buy Now

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1. PepsiCo, Inc. (NASDAQ:PEP)

Number of Hedge Fund Holders: 66

PepsiCo, Inc. (NASDAQ:PEP) is an American food, beverage, and snack company. Recently, Barclays raised its price target on PepsiCo, Inc. (NASDAQ:PEP) to $168, with an Overweight rating on the shares, after the company posted solid Q3 earnings and provided next year’s outlook.

Recently, PepsiCo, Inc. (NASDAQ:PEP) announced to receive delivery of its first batch of Tesla Semi Trucks by the end of the year as a part of its broader plan to cut transportation emissions. In Q3, the company posted an EPS of $1.79, beating the estimates by $0.06. PepsiCo, Inc. (NASDAQ:PEP) saw a 9% growth in its organic revenue in the third quarter.

Of the 873 hedge funds tracked by Insider Monkey, 66 hedge funds had stakes in PepsiCo, Inc. (NASDAQ:PEP) in Q2, up from 61 in the previous quarter. The total value of these stakes is over $5 billion, compared with $4.8 billion in Q1 2021. Fundsmith LLP is the company’s largest shareholder in Q3, owning shares worth $1.5 billion.

You can also take a look at Top 10 Food Delivery Stocks to Buy in 2021 and 10 Biggest Fast Food Chains in the World

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