Should You Sell The Procter & Gamble Company (PG)?

Madison Investments, an investment advisor, released its “Madison Sustainable Equity Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. During the fourth quarter, equity markets ended the year on a high note, with the S&P 500 achieving an 11.7% increase. This brought the full-year return to 26.3%. The Fund (Class Y) returned 18.0% for the year, but had a Q4 return of 11.9%, trailing the S&P 500. The fourth quarter’s strength can be attributed to the yield curve’s downward shift. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Madison Sustainable Equity Fund featured stocks such as The Procter & Gamble Company (NYSE:PG) in the fourth quarter 2023 investor letter. Headquartered in Cincinnati, Ohio, The Procter & Gamble Company (NYSE:PG) offers branded consumer packaged goods. On February 1, 2024, The Procter & Gamble Company (NYSE:PG) stock closed at $159.18 per share. The one-month return of The Procter & Gamble Company (NYSE:PG) was 7.98%, and its shares gained 11.62% of their value over the last 52 weeks. The Procter & Gamble Company (NYSE:PG) has a market capitalization of $374.554 billion.

Madison Sustainable Equity Fund stated the following regarding The Procter & Gamble Company (NYSE:PG) in its fourth quarter 2023 investor letter:

“We sold The Procter & Gamble Company (NYSE:PG). After two years of strong pricing growth, the company is facing slower market growth in both the US and Europe. China, the company’s second largest individual market, is facing a protracted downturn with poor visibility on when fundamentals will improve.”

A supermarket shelf overflowing with a variety of fast-moving consumer goods.

The Procter & Gamble Company (NYSE:PG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 75 hedge fund portfolios held The Procter & Gamble Company (NYSE:PG) at the end of third quarter which was 74 in the previous quarter.

We discussed The Procter & Gamble Company (NYSE:PG) in another article and shared the list of best consumer staples dividend stocks to buy. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.