These 5 Important Stocks are Losing Value in 2022

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

Number of Hedge Fund Holders: 72 

PE Ratio: 23.29

YTD Decline in Share Price as of June 15: 18.98%

The Procter & Gamble Company (NYSE:PG) markets branded consumer packaged goods. On April 20, the firm posted earnings for the third fiscal quarter, reporting earnings per share of $1.33, beating market estimates by $0.04. The revenue over the period was $19.4 billion, up over 7% compared to the revenue over the same period last year and beating estimates by $710 million. The firm also raises sales growth outlook to up to 5% for 2022 from previous 4%. 

On June 1, Deutsche Bank analyst Steve Powers maintained a Buy rating on The Procter & Gamble Company (NYSE:PG) stock and lowered the price target to $171 from $177, noting that the consumer products space had outperformed in a difficult backdrop in the past few months.

Among the hedge funds being tracked by Insider Monkey, Florida-based investment firm GQG Partners is a leading shareholder in The Procter & Gamble Company (NYSE:PG) with 9.9 million shares worth more than $1.5 billion.