5 Best Dividend Stocks to Buy According to Billionaire Cliff Asness

4. PepsiCo, Inc. (NASDAQ: PEP)

Asness’s Stake Value: $343,850,000
Percentage of Cliff Asness’ 13F Portfolio: 0.56%
Number of Hedge Fund Holders: 61
Dividend yield: 2.89%

PepsiCo, Inc. (NASDAQ: PEP) is a multinational food and beverage company with some of its most famous brands including Doritos, Cheetos, Lay’s, and Aunt Jemima. The company serves wholesale and other distributors, foodservice customers, grocery and drug stores, and a range of other consumers worldwide. PepsiCo, Inc. (NASDAQ: PEP) ranks 4th on our list of the best dividend stocks to buy according to billionaire Cliff Asness.

In the first quarter of this year, PepsiCo, Inc. (NASDAQ: PEP) raised its dividend by 5% to $1.075 per share, a rise from its previous $1.02 dividend. The new dividend will be payable on June 30th. In its first-quarter report, the company also reported its revenue to be $14.82 billion and earnings to be $1.71 billion. In the first quarter, PepsiCo, Inc. (NASDAQ: PEP) also again managed to beat EPS estimates by $0.09 with its $1.21 EPS. The stock also gained 2.62% in the past 6 months and 2.98% year to date and has a forward PE ratio of 24.43.

By the end of the first quarter of 2021, PepsiCo, Inc. (NASDAQ: PEP) had 61 hedge fund holders having stakes in the company worth over $4.88 billion, significantly up from Q420 numbers of 56 hedge fund holders with stakes worth $4.28 billion. AQR Capital is one such holder in PepsiCo, Inc. (NASDAQ: PEP) with over 2.4 million shares in the company worth over $343 million.