PepsiCo, Inc. (PEP) Rising In Premarket After Posting Impressive Q2 Beat

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What does the smart money think about PepsiCo, Inc. (NYSE:PEP)?

At the end of the first quarter, a total of 61 of the hedge funds tracked by Insider Monkey were long in this stock, a 13% increase from the previous quarter.

According to hedge fund experts at Insider Monkey, Yacktman Asset Management, managed by Donald Yacktman, holds the most valuable position in PepsiCo, Inc. (NYSE:PEP). Yacktman Asset Management has a $2.44 billion position in the stock held in 25.49 million shares, and comprising 11.2% of its 13F portfolio. Sitting in the second spot is Trian Partners, managed by Nelson Peltz, which held a $1.75 billion position in 18.31 million shares; the fund has 20.5% of its 13F portfolio invested in the stock. Other members of the smart money with similar optimism contain James Dinan’s York Capital Management, Boykin Curry’s Eagle Capital Management, and Ken Fisher’s Fisher Asset Management.

Some big names have jumped into PepsiCo, Inc. (NYSE:PEP) headfirst. As mentioned, York Capital Management, managed by James Dinan, was one of the hedge funds long in PepsiCo by the end of March. York Capital created the biggest call position in PepsiCo, Inc. (NYSE:PEP), an $835.8 million position of call options underlying 8.74 million shares. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also made an $87.8 million investment in the stock during the quarter, comprised of 918,635 shares. The other funds with brand new Pepsi positions included Neil Chriss’ Hutchin Hill Capital, Benjamin A. Smith’s Laurion Capital Management, and Tony Chedraoui’s Tyrus Capital.

As PepsiCo, Inc. (NYSE:PEP) has shown better-than-expected second quarter results after getting more nods from smart money at the end of the first quarter, it appears that it is a good idea to be long in the company’s shares. For more analysis of Pepsi, check out our recent stock showdown feature that pitted it against its arch-rival Coca-Cola Company (NYSE:KO).

Disclosure: None

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