In this article we will take a look at the 5 best consumer staples stocks to buy now. For a detailed analysis of the consumer staples sector, go directly to the 10 Best Consumer Staples Stocks to Buy Now.
5. The Procter & Gamble Company (NYSE: PG)
Number of Hedge Fund Holders: 83
The Procter & Gamble Company (NYSE: PG) is a Cincinnati-based company that makes and sells consumer goods such as beauty and healthcare products. These include shampoos, deodorants, and skincare products. The firm was founded in 1837 and ranks fifth on our list of 10 best consumer staples stocks to buy now. Some of the brands it owns include the Head & Shoulders, Safeguard, Gillette, Oral-B, Ariel, Pampers, and others. The firm has a market cap of more than $333 billion and posted more than $70 billion in annual revenue in June 2020.
On April 20, The Procter & Gamble Company outlined a plan to increase prices of products as production costs increased. Investment bank Wells Fargo noted the gain in share price of the firm after the announcement of the hike but said it remained to be seen just how much of a catalyst the hike would provide when compared to rising production costs.
Out of the hedge funds being tracked by Insider Monkey, London-based investment firm Cedar Rock Capital is a leading shareholder in the firm with 9.8 million shares worth more than $1.3 billion.