In this paper, we consider the periodic Cauchy problem for a stochastically perturbed nonlinear dispersive partial differential equation with cubic nonlinearity, which involves the integrable Novikov equation arising from the shallow water wave theory as a special case. We first establish the existence and uniqueness of local pathwise solutions in Sobolev spaces Hs(T)(s>32) with nonlinear multiplicative noise, where the key ingredients are the stochastic compactness method, the Skorokhod representation theorem and the Gyöngy–Krylov characterization of convergence in probability. In the case of linear multiplicative noise, we investigate the conditions which lead to the blow-up phenomena and global existence of pathwise solution. Finally, we show that the linear multiplicative noise has a dissipative effect on the periodic peakon solutions to the associated deterministic Novikov equation.