5 Best FMCG Stocks to Buy Now

1. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 83

Johnson & Johnson (NYSE:JNJ) is an American multinational corporation and one of the most valued companies in the world. The company provides medical devices, pharmaceuticals, and consumer goods. The company has a AAA credit rating which is not only suitable for the company but also its shareholders.

In 2021, Johnson & Johnson (NYSE:JNJ) made 147 innovation deals, 20 new equity investments, and 3 acquisitions and licensing agreements. The company’s most recent expansion step was acquiring Texas and Oklahoma wholesale brokerage & binding assets and managing general underwriting units from Midlands Management Corporation in April. It is a massive step towards the growth and acceleration of the company.

Johnson & Johnson (NYSE:JNJ) is a dividend king that has increased its dividend for nearly 60 years. On April 19, the company announced its latest increase in its quarterly dividend to $1.13. The current yield is 2.54% with an annual payout of $4.52.

On June 22, Daiwa initiated coverage of Johnson & Johnson (NYSE:JNJ) with a $180 price target and an Outperform rating on its shares.

As of the first quarter of 2022, 83 hedge funds held stakes in Johnson & Johnson (NYSE:JNJ), with Arrow Street Capital being the investor with the highest stake. The fund increased its holdings in the company by 38% to $1.179 billion. Furthermore, the hedge fund with the second-highest stake was GQG Partners, followed by Bridgewater Associates. The former increased its holding in Johnson & Johnson (NYSE:JNJ) by 65%, while the latter increased it by 41% in Q1 2022.

You can also take a peek at 10 Best Buy-The-Dip Consumer Stocks to Consider and The 10 Best Monthly Dividend Stocks to Buy in July.

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