Investors are Buying These 5 Stocks as New Survey Shows “Dire” Pessimism

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

Number of Hedge Fund Holders: 72

The Procter & Gamble Company (NYSE:PG) is an American multinational consumer goods corporation. The Procter & Gamble Company (NYSE:PG) has always been a reliable choice even amid economic volatility, given the defensive nature of its products and its reliable dividend history. The Procter & Gamble Company (NYSE:PG) has raised its dividend for 66 consecutive years. The company announced a $0.9133 per share quarterly dividend on July 12, payable on August 15 to shareholders of record as of July 22. 

Barclays analyst Lauren Lieberman assigned an Overweight rating to The Procter & Gamble Company (NYSE:PG) and lowered the price target on the stock to $154 from $157 after the FQ4 results. The analyst thinks share price outperformance will need to be supported by evidence that The Procter & Gamble Company (NYSE:PG)’s business model is more defensive in this economic cycle.

According to Insider Monkey’s data, 72 hedge funds were bullish on The Procter & Gamble Company (NYSE:PG) at the end of March 2022, up from 67 funds in the prior quarter. Ray Dalio’s Bridgewater Associates is a prominent stakeholder of the company, with 6.8 million shares valued at over $1 billion.