5 Best Defensive Stocks to Buy According to Ray Dalio

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

Bridgewater Associates’ Stake Value: $970,175,000 

Percentage of Bridgewater Associates’ 13F Portfolio: 4.11%

Number of Hedge Fund Holders: 71

On July 29, The Procter & Gamble Company (NYSE:PG) announced earnings for the fourth quarter of fiscal 2022. The reported earnings per share of $1.21 and generated a revenue of $19.5 billion, up 3% year over year, and ahead of Wall Street expectations by $104 million.

Wall Street is bullish on The Procter & Gamble Company (NYSE:PG). This July, Wells Fargo analyst Chris Carey adjusted his price target on The Procter & Gamble Company (NYSE:PG) to $160 from $170 and maintained a buy-side Overweight rating on the shares. On August 2, Barclays analyst Lauren Lieberman revised her price target on The Procter & Gamble Company (NYSE:PG) to $154 from $157 and reiterated an Overweight rating on the shares.

As of September 21, The Procter & Gamble Company (NYSE:PG) is offering a forward dividend yield of 2.65% and has free cash flows of $13.56 billion. The company has been consistent with growing its dividends for the past 65 years and has a 5-year dividend CAGR of 5.58%.

At the close of Q2 2022, 71 hedge funds held stakes in The Procter & Gamble Company (NYSE:PG). The total value of these stakes amounted to $5.53 billion. As of June 30, Bridgewater Associates owns more than 6.7 million shares of The Procter & Gamble Company (NYSE:PG), which amounts to a stake of $970 million.

You can also take a look at 10 Best Dividend Stocks to Buy According to Billionaire Ray Dalio and 10 Best Defensive Stocks to Buy Today According to Billionaire Ken Fisher.

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