14 Best FMCG Stocks To Buy Now

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

Number of Hedge Fund Holders: 69

The Procter & Gamble Company (NYSE:PG), headquartered in Cincinnati, Ohio, is a renowned global consumer goods corporation. Founded in 1837 by William Procter and James Gamble, the company boasts an extensive portfolio of branded consumer packaged goods, distributed worldwide across various segments, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.

Earlier this April, The Procter & Gamble Company (NYSE:PG) reported its fiscal Q3 results, with adjusted EPS of $1.52, surpassing estimates by $0.11. Revenue for the quarter rose 0.6% year-over-year to $20.2 billion, but fell short of estimates by $240 million.

On April 28, Argus updated its price target for The Procter & Gamble Company (NYSE:PG), raising it from $180 to $185 and maintaining a Buy rating. The firm emphasized the company’s potential for long-term earnings and share-price growth, driven by continuous product innovation, productivity enhancements, and improved advertising strategies. Innovations like Dawn Powerwash have been pivotal in capturing additional market share, allowing P&G to successfully implement price increases to offset inflationary pressures, even as some consumers switch to lower-priced store brands.

According to Insider Monkey’s database of 919 hedge funds, 69 reported owning stakes in Procter & Gamble Co. (NYSE:PG) as of the end of the March quarter. The largest stake during this period was held by Ken Fisher’s Fisher Asset Management, which owns a $2.7 billion stake in Procter & Gamble Co. (NYSE:PG).