5 Cheap Stocks to Buy That Outperformed in 2022

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

Year to Date Return as of December 14: -6.18%

Number of Hedge Fund Holders: 69

The Procter & Gamble Company (NYSE:PG) ranks #4 on our list of 12 Cheap Stocks to Buy That Outperformed in 2022 given 69 hedge funds in our database owned shares of the stock at the end of Q3.

While analysts have a slightly lower average price target than what the stock is trading for, The Procter & Gamble Company (NYSE:PG) has substantial intrinsic value that could offer upside in the long term. Given its portfolio of leading brands, The Procter & Gamble Company (NYSE:PG) has growth potential if it maintains its market share and if the Federal Reserve wins its battle against inflation.

Although shares are down 6.18%, The Procter & Gamble Company (NYSE:PG) stock has rallied fairly significantly since its October lows.