Jim Cramer and Billionaire Ray Dalio Are Betting on These 5 Stocks

4. The Proctor and Gamble Company (NYSE:PG)

Number of Hedge Fund Holders: 71  

The Proctor and Gamble Company (NYSE:PG) provides branded consumer packaged goods worldwide. On October 19, Procter & Gamble posted earnings for the first quarter of 2022, reporting earnings per share of $1.57, beating market estimates by $0.02. The revenue over the period was $20.61 billion, up 1.3% compared to the revenue over the same period last year and beating market estimates by $240 million. Securities filings show that Dalio owned more than 6.6 million shares in the company at the end of the third quarter of 2022 worth $835 million. Cramer recently said that consumer staples tend to do well during a recession as people will keep buying staples regardless of overall economic outlook. He has also highlighted the dividend history of the company, which goes back nearly six decades, as another reason to own the stock during an economic slowdown. 

On November 22, Jefferies analyst Kevin Grundy maintained a Buy rating on The Procter & Gamble Company (NYSE:PG) stock and raised the price target to $164 from $149, noting that despite trade-down risks, the company’s key focus remains on supply, sustainability, digital acumen and human capital.

At the end of the third quarter of 2022, 71 hedge funds in the database of Insider Monkey held stakes worth $5.5 billion in The Proctor and Gamble Company (NYSE:PG), compared to 72 in the preceding quarter worth $6.1 billion.