5 Best Dividend Aristocrats to Buy According to Hedge Funds

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

Number of Hedge Fund Holders: 70
Number of Years of Consecutive Dividend Increases: 65
Dividend Yield: 2.6%

The Procter & Gamble Company (NYSE: PG) is a global company operating in the household products industry to provide branded consumer packaged goods. The company is headquartered in Ohio and ranks 3rd on our list of the best dividend aristocrats to buy according to hedge funds.

Peter Grom from UBS initiated coverage of The Procter & Gamble Company (NYSE: PG) shares just this July with a $138 price target and a Neutral rating.

In the fiscal third quarter of 2021, The Procter & Gamble Company (NYSE: PG) had an EPS of $1.26, beating estimates by $0.07. The company’s revenue was $18.11 billion, up 5.2% year over year and also beating estimates by $147.79 million. The Procter & Gamble Company (NYSE: PG) has gained about 4.2% in the past 6 months and 9.23% in the past year.

By the end of the first quarter of 2021, 70 hedge funds out of the 866 tracked by Insider Monkey held stakes in The Procter & Gamble Company (NYSE: PG) worth roughly $8.53 billion. This is compared to 83 hedge funds in the previous quarter with stakes worth approximately $10.42 billion.