Jim Simons’ Renaissance Technologies Portfolio: 5 Dividend Stock Picks

4. PepsiCo, Inc. (NASDAQ:PEP)

Dividend Yield as of May 19: 2.84%
Number of Hedge Fund Holders: 60
Renaissance Technologies’ Stake Value: $327,838,000

This May, JPMorgan appreciated the performance of PepsiCo, Inc. (NASDAQ:PEP), calling its earnings and guidance ‘impressive’. The firm lifted its price target on the stock to $186, while maintaining an Overweight rating on the shares.

Terry Smith’s Fundsmith LLP was the largest shareholder of PepsiCo, Inc. (NASDAQ:PEP) in Q1 2022, owning shares worth over $1.3 billion. Overall, 60 hedge funds tracked by Insider Monkey held stakes in the company in Q4 2021, down from 61 in the previous quarter. These stakes hold a consolidated value of over $4.64 billion.

On May 3, PepsiCo, Inc. (NASDAQ:PEP) announced a 7% hike in its annual dividend to $1.15 per share, marking the company’s 50^th year of consecutive dividend growth. The company has been paying dividends to shareholders consistently since 1965. The stock’s current dividend yield stood at 2.84%, as of the close of May 19. In Q1 2022, Renaissance Technologies increased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 72%.

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.”