In this article, we discuss the 5 best aristocrat dividend stocks to buy. If you want to read our detailed analysis of dividend investing, go directly to the 10 Best Aristocrat Dividend Stocks to Buy.
5 Best Aristocrat Dividend Stocks to Buy
5. PepsiCo, Inc. (NASDAQ: PEP)
Number of Hedge Fund Holders: 56
Dividend Yield: 2.93%
Ranking 5th in our list of 10 best aristocrat dividend stocks to buy is food and beverage company PepsiCo, Inc. (NASDAQ: PEP). Among the brands the New York-based frizzy beverage maker owns are Doritos, Tostitos, Lay’s, Cheetos, Gatorade, Tropicana, Mountain Dew, and Quaker. The company has increased its dividend every year for the last 48 years and currently provides a quarterly payout of $1.075 per share. PepsiCo, Inc. currently pays a quarterly dividend of $1.075 per share.
In January 2021, PepsiCo, Inc. announced its PLANeT Partnership with Los Angeles-based plant-based meat producer Beyond Meat, Inc. (NASDAQ: BYND). The joint venture intends to produce and market plant-based protein snacks and beverages to capitalize on the growing plant-based food market.
The company has a market cap of $202 billion. The company’s revenue in the first quarter of 2021 came in at $14.8 billion, up 6.8% from $13.9 billion in 2020. In the quarter, the company returned $5.9 billion in dividends and $106 million share repurchases to shareholders. Shares of PEP jumped 11% over the past twelve months. On April 21, Swiss investment bank UBS raised its outlook on the stock to “Buy” from “Neutral” and raised the price target to $165 from $145.
At the end of the fourth quarter of 2020, 49 hedge funds in the database of Insider Monkey held stakes worth $4.29 billion in PepsiCo, Inc. (NASDAQ: PEP) which is an increase from 45 hedge funds in the previous quarter holding stakes worth $2.94 billion.