5 Best Consumer Staples Stocks To Buy Now

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

Number of Hedge Fund Holders: 67

On April 20, The Procter & Gamble Company (NYSE:PG) put forth an earnings report detailing the company’s earnings for the fiscal third quarter of 2022. According to the report, The Procter & Gamble Company (NYSE:PG) registered an EPS of $1.33 and beat market estimates by $0.04. The company’s revenues grew by 7.02% year over year and came to $19.38 billion, beating revenue estimates by over $687 million.

In addition to having reported robust earnings for the quarter, The Procter & Gamble Company (NYSE:PG) declared an increased quarterly cash dividend of $0.9133 per share, payable on or after May 16, 2022, to investors of record on April 22, 2022. This represents a five percent increase compared to the prior quarterly dividend. Moreover, the company plans to return over $18 billion of cash to investors in the fiscal year 2022.

The Procter & Gamble Company (NYSE:PG) is the runner-up best consumer staples stock to buy now given its strong financials, consistent dividend growth, and high momentum. As of April 22, the stock is up 20.66% over the past twelve months.

The Procter & Gamble Company (NYSE:PG) has been a popular stock pick among elite hedge funds, and by the end of Q4 2021, 67 hedge funds held long positions in the company worth approximately $6.61 billion. This is compared to 69 hedge funds in the prior quarter with stakes of $6.41 billion. As of December 31, 2021, GQG Partners is the most prominent investor in The Procter & Gamble Company (NYSE:PG) having stakes of $1.23 billion in the company.