5 Best FMCG Stocks To Buy Now

4. Pepsico, Inc. (NYSE: PEP)

Number of Hedge Fund Holders: 66

Pepsico, Inc. (NYSE: PEP) ranks 4th on the list of 11 best FMCG stocks to buy now. The multinational food and beverage company is based in New York and was founded in 1898. Pepsico, Inc. (NYSE: PEP) operates over 300 manufacturing plants worldwide.

In 2020, Pepsico, Inc. (NYSE: PEP) acquired energy drink maker Rockstar Energy Beverages for $3.86 billion. In April 2021, Rockstar Energy Beverages introduced its new packaging, elevating the brand and giving the energy drink a new visual identity in the international market.

This July, Wells Fargo analyst Chris Carey raised his price target on shares of Pepsico, Inc. (NYSE: PEP) to $160 per share from $147 per share and kept his Equal Weight rating on the stock. Carey believes the company’s second-quarter results were above expectations.

The company has a market cap of $218.17 billion and currently offers a dividend yield of 2.72%. In the second quarter of 2021, Pepsico, Inc. (NYSE: PEP) reported an EPS of $1.72, beating estimates by $0.17. The company’s second-quarter revenue came in at $19.22 billion, up 20.5% year-over-year and beating estimates by $1.27 billion.

By the end of the second quarter of 2021, 66 hedge funds out of the 873 tracked by Insider Monkey held stakes in Pepsico, Inc. (NYSE: PEP) worth roughly $5.19 billion. This is compared to 61 hedge funds in the previous quarter with a total stake value of approximately $4.88 billion.