5 Best Stocks to Buy for Deflation

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

Number of Hedge Fund Holders: 71

The Procter & Gamble Company (NYSE:PG) is an American multinational consumer packaged goods company. The Procter & Gamble Company (NYSE:PG) has been paying a dividend for 132 years consistently since its incorporation in 1890 and has raised its annual dividends for 66 consecutive years. The latest quarterly dividend of $0.9133 per share was paid on August 15. The company delivers a dividend yield of 2.69% as of September 23. 

Truist analyst Bill Chappell on August 1 reaffirmed a Buy recommendation on The Procter & Gamble Company (NYSE:PG) but lowered the price target on the shares to $160 from $175. Although the company’s Q4 earnings miss makes him somewhat cautious on the consumer environment, he also thinks that The Procter & Gamble Company (NYSE:PG)’s premium-priced portfolio will win against forex headwinds and relative conservatism, the analyst told investors.

Among the hedge funds tracked by Insider Monkey, The Procter & Gamble Company (NYSE:PG) was part of 71 public stock portfolios at the end of June 2022, compared to 72 in the earlier quarter. Ray Dalio’s Bridgewater Associates is the biggest shareholder of the company, with 6.7 million shares worth over $970 million.