5 Defensive Stocks in Billionaire Ray Dalio’s Latest Portfolio

4. PepsiCo, Inc. (NASDAQ:PEP)

Number of Hedge Fund Holders: 62

Ray Dalio’s Bridgewater Associates’ Holdings: $698,187,000

Percentage of Ray Dalio’s Bridgewater Associates’ Portfolio: 2.81%

Stock Price as of June 24: $166.13

PepsiCo, Inc. (NASDAQ:PEP) is a constituent of a portfolio of stocks to own during an economic downturn, as suggested by Wells Fargo in a research note issued on June 14. Although PepsiCo, Inc. (NASDAQ:PEP) operates in an industry that is exposed to rising commodity prices, the established brands under its umbrella provide the firm with strong pricing power. Furthermore, the company is also preparing itself for a transition towards healthier eating and beverage consumption behavior through its offerings.

ClearBridge Investments shared its insights on PepsiCo, Inc. (NASDAQ:PEP) in its Q4 2021 investor letter. Here’s what the firm said:

“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.”

PepsiCo, Inc. (NASDAQ:PEP) stock is a great option for investors looking for defensive stocks with strong business fundamentals and a stellar balance sheet. Overall, 62 hedge funds held a stake in PepsiCo, Inc. (NASDAQ:PEP) at the end of Q1 2022.