14 Best 52-Week High Stocks to Buy According to Short Sellers

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

52 Week Range: $168.59-$ 171.20

Current Share Price: $169.06

Short interest rate: 0.93%

Number of Hedge Fund Holders: 64

The Procter & Gamble Company (NYSE:PG) is a consumer defensive company that provides branded consumer packaged goods. Its beauty segment offers conditioners, shampoos, styling aids, and treatments, while the Grooming segment provides blades, razors, shave products, and appliances. The Health Care segment offers toothbrushes and other oral care products.

The Procter & Gamble Company (NYSE:PG) reported that its second-quarter earnings fell short of expectations due to lackluster sales in China. The company’s net income for the period, which includes $3.14 billion, or $1.27 per share, was a drop from the previous year’s $3.38 billion, or $1.37 per share.

Total sales for the quarter were unchanged from the previous year. The Procter & Gamble Company (NYSE:PG)’s core sales saw a modest increase of 2% for the quarter. Despite these lackluster sales figures, the company saw its sales volume grow for the first time in over two years. This increase in volume was driven by stronger demand for its personal care, health care, and home care products. Each of these areas saw a 2% increase in sales for the quarter.

The Procter & Gamble Company (NYSE:PG)’s focus on expanding its market presence has increased its market share, and its online sales have also experienced a notable rise of 9%. Even though it has encountered obstacles in China, the Middle East, and Argentina, it continues to be dedicated to its approaches of dominance, efficiency, innovative change, and a strong team to promote future expansion.

The Procter & Gamble Company (NYSE:PG)’s trading near its 52-week highs affirms the bullish sentiment among investors about its long-term prospects. That is in part because the company is in a solid financial position, with adjusted free cash flow of over $3 billion, which allows it to maintain support for its 2.38% dividend yield.

According to Insider Monkey’s database of Q2 2024, 64 hedge funds owned stakes in The Procter & Gamble Company (NYSE:PG), down from 69 in the previous quarter. These stakes have a total value of over $7.73 billion.

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