5 Best Consumer Staples Dividend Stocks to Buy Now

In this article, we will discuss 5 best consumer staples dividend stocks to buy now. If you want to read our detailed analysis of the sector and its performance this year, go directly to read 13 Best Consumer Staples Dividend Stocks to Buy Now. 

5. The Procter & Gamble Company (NYSE:PG)

Dividend Yield as of November 8: 2.67%

The Procter & Gamble Company (NYSE:PG) is an American multinational consumer goods company that deals in a wide range of personal care and hygiene products. On October 11, the company declared a quarterly dividend of $0.9133 per share, in line with its previous dividend. The company has been raising its dividends consistently for the past 66 years, which makes it one of the best dividend stocks to buy now. As of November 8, the stock has a dividend yield of 2.67%.

In fiscal Q1 2023, The Procter & Gamble Company (NYSE:PG) reported an operating cash flow of $4.1 billion, and its free cash flow productivity stood at 86%. The company paid $6.3 billion to shareholders during the quarter, $2.3 billion of which represented dividend payments.

In October, Barclays raised its price target on The Procter & Gamble Company (NYSE:PG) to $145 with an Overweight rating on the shares. The firm appreciated the company’s fiscal first-quarter results and its overall fundamentals.

Of the 895 hedge funds tracked by Insider Monkey, 71 funds owned stakes in The Procter & Gamble Company (NYSE:PG) in Q2 2022, compared with 72 a quarter earlier. These stakes hold a consolidated value of over $5.5 billion. Ray Dalio’s Bridgewater Associates was the company’s leading stakeholder in Q2.