5 Blue Chip Stocks to Buy Now According to Billionaire Ray Dalio

4. PepsiCo, Inc. (NYSE:PEP)

Bridgewater Associates’ Stake Value: $634,801,000

Percentage of Bridgewater Associates’ 13F Portfolio: 2.69%

Number of Hedge Fund Holders: 65

PepsiCo, Inc. (NYSE:PEP) is a leading convenient foods and beverages company with products sold in more than 200 countries and territories worldwide. Its product portfolio includes well-known names such as Lay’s, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker, and SodaStream, among others.

Bridgewater Associates owns 3,808,959 shares of PepsiCo, Inc. (NYSE:PEP), accounting for 2.69% of its 13F portfolio. The hedge fund dumped 9% of its stake in Q2 2022, as compared to the previous quarter.

Earlier this year in July, PepsiCo, Inc. (NYSE:PEP) released the financial results for the quarter ended June 11, 2022. Its revenue increased by 5% y-o-y to $20.2 billion, while its net income shrunk by 39% y-o-y to $1.4 billion, for the three months. It reported a normalized EPS of $1.86, beating the consensus by $0.12.

Also in July, PepsiCo, Inc. (NYSE:PEP) declared a quarterly dividend of $1.15 per share, representing a 7% y-o-y increase in the dividend amount. The company has regularly paid quarterly dividends since 1965 and the latest increase marks its 50^th consecutive annual dividend increase.

As of Q2 2022, 65 of the 895 hedge funds tracked by Insider Monkey owned shares of PepsiCo, Inc. (NYSE:PEP), valued at $5.3 billion. Its largest shareholder was Terry Smith’s Fundsmith LLP with ownership of 7.1 million shares valued at $1.2 billion.