5 Best Dividend Stocks to Buy According to Noam Gottesman’s GLG Partners

In this article, we discuss the 5 best dividend stocks to buy according to Noam Gottesman’s GLG Partners. If you want to read our detailed analysis of the hedge fund and its past performance, go directly to read 10 Best Dividend Stocks to Buy According to Noam Gottesman’s GLG Partners. 

5. PepsiCo, Inc. (NASDAQ:PEP)

Number of Hedge Fund Holders: 60
Dividend Yield as of May 20: 2.85%
GLG Partners’ Stake Value: $117,650,000

PepsiCo, Inc. (NASDAQ:PEP) is one of the world’s leading food and beverage companies, having operations in over 200 countries. Following its strong Q1 2022 results and impressive business model, Street analysts have presented a positive outlook on the company. In May, both JPMorgan and Credit Suisse raised their price targets on the stock to $186 and $168, respectively.

GLG Partner started building its position in PepsiCo, Inc. (NASDAQ:PEP) during the fourth quarter of 2017, after pulling off its investments from the company in 2011. In Q1 2022, the hedge fund increased its position in PepsiCo, Inc. (NASDAQ:PEP) by 36%, equaling shares worth over $117.6 million. The company represented 0.4% of Noam Gottesman’s portfolio.

PepsiCo, Inc. (NASDAQ:PEP) has been paying dividends to its shareholders since 1965 and has maintained a 50-year streak of consistent dividend growth. In May, the company raised its annual dividend by 7% to $1.15 per share, with a dividend yield of 2.85%, as of the close of May 20.

The number of hedge funds tracked by Insider Monkey holding stakes in PepsiCo, Inc. (NASDAQ:PEP) stood at 61 in Q4 2021, down from 60 in the previous quarter. The total value of these stakes is over $4.6 billion, compared with $4.4 billion worth of stakes held by hedge funds in Q3 2021.

ClearBridge Investments mentioned PepsiCo, Inc. (NASDAQ:PEP) in its Q4 2021 investor letter. Here is what the firm has to say:

“The pandemic created opportunities for us to be more aggressive in a variety of areas of the market. We were opportunistic throughout the year. After a strong year for equities, we sought to bolster more defensive areas of the portfolio and added to PepsiCo, increasing our exposure to a high-quality and stable name.”