Last year, when Wall Street had given up on Procter & Gamble Co (NYSE:PG) following a series of poor financial results, I vowed to stand behind the consumer staples giant. I’m glad I did. PG stock has come roaring back. Since bottoming out at $72.60 last May, the stock has delivered a total return, including dividends, of 49%. Several investment firms have upgraded the stock, raising their target prices for the upcoming year. Yet despite the recent run, I remain bullish.
Procter & Gamble stock isn’t risk-free, of course. The input costs bite into the company’s margins. Private label brands, always a real threat, could steal market share. That said, management has taken the steps needed to combat these challenges, putting the business back on the right course. And given their commitment to rewarding shareholders with dividend hikes, I’m happy to stick with Procter & Gamble Co.
Source: Income investors
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Procter & Gamble Co: Why I’m Sticking With P&G Stock
Posted by D4L | Tuesday, June 25, 2019 | 0 comments »________________________________________________________________
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