5 Best Dividend Kings to Buy Now According to Hedge Funds

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

Number of Hedge Fund Holders: 70
Number of Years of Consistent Dividend Growth: 65
Dividend Yield: 2.54%

The Procter & Gamble Company (NYSE: PG) is a consumer goods company providing products in North and Latin America, Europe, the Asia Pacific, Greater China, India, the Middle East, and Africa. The company’s brands include Gillette, Venus, Old Spice, and Olay, among others, and it ranks 2nd on our list of the best dividend kings to buy now according to hedge funds.

This June, UBS began covering The Procter & Gamble Company (NYSE: PG) with a Neutral rating and a $138 price target. In April, the company also stated that it has maintained its fiscal 2021 outlook and it expects its revenue to grow by 5-6% for the year.

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 beating estimates by $147.79 million. The Procter & Gamble Company (NYSE: PG) has gained 0.86% in the past 6 months as well.

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 a total stake value of about $10.42 billion.