In this article, we discuss the top 5 stock picks of Brian Scudieri’s Kehrs Ridge Capital. If you want our detailed analysis of these stocks, go directly to the Top 10 Stock Picks of Brian Scudieri’s Kehrs Ridge Capital.
5. PepsiCo, Inc. (NASDAQ:PEP)
Kehrs Ridge Capital’s Stake Value: $18,049,000
Percentage of Kehrs Ridge Capital’s 13 Portfolio: 5.82%
Number of Hedge Fund Holders: 66
PepsiCo, Inc. (NASDAQ:PEP) is a leading American food, snack, and beverage corporation possessing a strong brand portfolio consisting of products including Pepsi, 7Up, Gatorade, Lay’s, Cheetos, Lipton, and Mountain Dew, among others. 23 brands in PepsiCo, Inc. (NASDAQ:PEP)’s portfolio as of January 2021 rake in sales over $1 billion each.
Scudieri’s Kehrs Ridge Capital owns 120,000 shares in PepsiCo, Inc. (NASDAQ:PEP) as of September this year, valued at approximately $18 million, accounting for 5.82% of the firm’s Q3 securities. At the end of the second quarter, 66 hedge funds observed by Insider Monkey reported owning stakes in PepsiCo, Inc. (NASDAQ:PEP), worth $5.19 billion. This is an increase from 61 funds in the preceding quarter, with a total stake value of $4.88 billion.
On October 5, PepsiCo, Inc. (NASDAQ:PEP) posted Q3 earnings. The EPS came in at $1.79, beating estimates by $0.06. Revenue for the quarter totaled $20.19 billion, up 11.6% year-over-year. The Q3 earnings beat resulted in an Overweight rating from Barclays analyst Lauren Lieberman on October 7, with a $168 price target, up from $165.
4. The Procter & Gamble Company (NYSE:PG)
Kehrs Ridge Capital’s Stake Value: $20,271,000
Percentage of Kehrs Ridge Capital’s 13 Portfolio: 6.54%
Number of Hedge Fund Holders: 68
Kehrs Ridge Capital, as of Q3, owns 145,000 shares in The Procter & Gamble Company (NYSE:PG), valued at $20.2 million, representing 6.54% of the firm’s portfolio. The Procter & Gamble Company (NYSE:PG) is an Ohio-based consumer goods corporation that is recognized for several brands from the beauty, personal hygiene, healthcare, and family care segments, including Pampers, Gillette, Head & Shoulders, Pantene, and Febreze, among others.
Of the 873 hedge funds tracked by Insider Monkey at the end of June, 68 hedge funds were bullish on The Procter & Gamble Company (NYSE:PG), down from 70 in the preceding quarter.
The Q3 earnings were reported on October 19 by The Procter & Gamble Company (NYSE:PG). EPS in the period came in at $1.61, beating estimates by $0.02. Revenue for the quarter equaled $20.34 billion, up 5.28% year-over-year, surpassing estimates by $445.19 million.
On October 20, Steve Powers from Deutsche Bank kept a Buy rating on The Procter & Gamble Company (NYSE:PG), lowering the price target to $160 from $163. He stated that high gross margin pressures are likely to persist.
3. Performance Food Group Company (NYSE:PFGC)
Kehrs Ridge Capital’s Stake Value: $22,069,000
Percentage of Kehrs Ridge Capital’s 13 Portfolio: 7.12%
Number of Hedge Fund Holders: 41
Performance Food Group Company (NYSE:PFGC) is a leading foodservice provider that delivers over 150,000 food and related products to customers all over the US, via its wholly owned subsidiaries, namely Performance Foodservice, Vistar, and PFG Customized.
Kehrs Ridge Capital holds a $22 million stake in Performance Food Group Company (NYSE:PFGC) as of September 2021, which accounts for 7.12% of the fund’s total portfolio value. At the end of June, 41 hedge funds observed by Insider Monkey reported owning stakes worth $734.3 million in Performance Food Group Company (NYSE:PFGC).
Performance Food Group Company (NYSE:PFGC) announced Q3 earnings on November 10. EPS in the period was $0.03, missing estimates by -$0.17. Revenue for the third quarter amounted to $10.39 billion, up 47.39% year-over-year.
Here is what ClearBridge Investments has to say about Performance Food Group Company (NYSE:PFGC) in its Q2 2021 investor letter:
“Some of our best performing holdings over the last several quarters took a pause during the strong up market in the second quarter. Stocks that took a breather included Performance Food Group, which declined on negative sentiment toward its planned acquisition of convenience store distributor Core-Mark.”
2. Constellation Brands, Inc. (NYSE:STZ)
Kehrs Ridge Capital’s Stake Value: $22,122,000
Percentage of Kehrs Ridge Capital’s 13 Portfolio: 7.14%
Number of Hedge Fund Holders: 50
Constellation Brands, Inc. (NYSE:STZ) is an American producer of beer, wine, and spirits, being one of the leading US beer suppliers and exporters. Constellation Brands, Inc. (NYSE:STZ) operates more than 40 production facilities, and has a product portfolio consisting of more than 100 brands of different alcoholic beverages.
Brian Scudieri’s Kehrs Ridge Capital owns 105,000 shares in Constellation Brands, Inc. (NYSE:STZ), as of the third quarter, worth $22.1 million, representing 7.14% of the firm’s portfolio. At the end of June, 50 hedge funds were long Constellation Brands, Inc. (NYSE:STZ), with a total stake value of $1.6 billion.
On October 13, HSBC analyst Carlos Laboy upgraded Constellation Brands, Inc. (NYSE:STZ) to Buy from Hold with a $262 price target.
1. Coca-Cola Europacific Partners PLC (NASDAQ:CCEP)
Kehrs Ridge Capital’s Stake Value: $24,604,000
Percentage of Kehrs Ridge Capital’s 13 Portfolio: 7.94%
Number of Hedge Fund Holders: 31
Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) is the largest holding in Scudieri’s Q3 portfolio, with Kehrs Ridge Capital owning 445,000 shares in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP), worth $24.6 million, representing 7.94% of the firm’s investments as of September this year. Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) is a British multinational bottling company that produces and distributes The Coca-Cola Company (NYSE:KO)’s products, as well as other beverages including Capri-Sun, Relentless, and Monster.
FY21 dividend per share of €1.40 was declared by Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) on November 9, which was up 64.5% when compared to last year, maintaining an annualized dividend payout ratio of approximately 50%.
Credit Suisse analyst Sanjeet Aujla, on November 10, lowered the price target on Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) from EUR 63 to EUR 59 and kept an Outperform rating on the shares.
As of the second quarter of 2021, 31 hedge funds reported owning stakes in Coca-Cola Europacific Partners PLC (NASDAQ:CCEP), up from 25 in the preceding quarter.
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