5 Best Bear Market Stocks to Buy Now

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

Number of Hedge Fund Holders: 71

The Procter & Gamble Company (NYSE:PG) is a consumer packaged goods provider that is one of the oldest companies in the world as it was set up in 1837 and is headquartered in Cincinnati, Ohio.

The Procter & Gamble Company (NYSE:PG) has managed to ride the inflationary wave this year, as its sales grew by 5% by the end of its previous fiscal year and core earnings per share grew at 3%. At the same time, the firm also has a fortress balance sheet, with its $21 billion in operating income, in the same range as its net debt built in the latest fiscal year. By the end of its current fiscal year, the firm expects a high-end of 5% growth.

The Procter & Gamble Company (NYSE:PG) pays 91 cent dividend for a 2.94% yield. For the second quarter of 2022 holdings, 71 out of the 895 hedge funds polled by Insider Monkey had held the company’s shares.

Out of these, Ray Dalio’s Bridgewater Associates is The Procter & Gamble Company (NYSE:PG)’s largest investor. It owns 6.7 million shares that are worth $970 million.