#7 - Procter & Gamble (NYSE:PG)
The last stock on our list is a defensive stock that should hold up extremely well regardless of what happens with inflation. Procter & Gamble (NYSE:PG) is a member of the all-important consumer staples sector. Investors are moving to risk-off assets, and those that are staying in stocks are seeking out the quality that a blue-chip stock like PG provides.
Companies like P&G have the ability to pass along higher costs to their consumers. And because the company is home to some of the most iconic brand names in the world, consumers will frequently continue to pay more, even when less expensive house brands exist.
With a P/E ratio of just below 24x, PG stock is about at the sector average. And as of this writing, the stock, which was trading around its 52-week low prior to its October earnings report, has been creeping higher, which may be good news for growth investors. In the meantime, income investors can enjoy its rock-solid dividend, which the company has been increasing for 66 years and now pays a dividend yield of 2.70%.
About Procter & Gamble
The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, SK-II, and Native brands.
Read More - Current Price
- $166.86
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 16 Buy Ratings, 7 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $180.45 (8.1% Upside)
Most investors don't really care about who occupies the White House or the halls of Congress. There's money to be made either way. And in many cases, the stocks that will tend to do well will do well regardless of who controls the purse strings.
But investors shouldn’t ignore an unmistakable historical trend that says stocks are likely to go up this year..and maybe by a lot. And it’s never too late to prepare.
The case for these stocks is based on macroeconomic trends (energy, healthcare, inflation) that are likely to be around for all of 2023 and perhaps beyond. But don’t take our word for it, be sure to do your due diligence.
And when you're doing your due diligence, be sure to use MarketBeat tools such as our stock screener to compare stocks that you like quickly. And when you find one that fits your objectives, be sure to add it to one or more of your watchlists so you get real-time alerts on pertinent news.
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