Billionaire Ray Dalio’s Bridgewater Associates 13F Portfolio: Top 5 Stock Picks

3. PepsiCo, Inc. (NYSE:PEP)

Number of Hedge Fund Holders: 65

Ray Dalio’s Bridgewater Associates’ Holdings: $656,549,000

Percentage of Ray Dalio’s Bridgewater Associates’ Portfolio: 3.32%

PepsiCo, Inc. (NYSE:PEP) is a Harrison, New York-based beverage, food, and snacks company with a diversified product line.

The company posted strong quarterly results as it surpassed Q3 2022 consensus estimates and raised the full-year sales forecast. As compared to the Coca-Cola Company, PepsiCo, Inc. (NYSE:PEP) has a higher share of the revenue from the US. During Q3, PepsiCo, Inc. (NYSE:PEP) generated 55% of its revenue from the US as opposed to Coca-Cola’s revenue share of 34%. Furthermore, PepsiCo, Inc. (NYSE:PEP) has significant exposure in the snacks segment, which is growing more rapidly compared to the beverages industry. PepsiCo, Inc. (NYSE:PEP) has received a consensus buy rating from Wall Street analysts as of October 12, and the stock’s 12-month price target suggests a total return of 10.4%. The stock offers an annual dividend of $4.60 as of November 14.

Here’s what ClearBridge Investments said about PepsiCo, Inc. (NYSE:PEP) in its Q2 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.”

PepsiCo, Inc. (NYSE:PEP) was held by 65 hedge funds as of Q2 2022.