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Cramer: buy P&G as it is ‘so much better than it used to be’

By: Invezz

Investors should now consider building a position in Procter & Gamble Co (NYSE: PG) that’s about flat for the year at writing, says Jim Cramer.

Jim Cramer shares his view on Procter & Gamble

Last month, the consumer goods company reported market-beating results for its fiscal first quarter but said currency headwinds will weigh on sales growth in fiscal 2024.

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But the “DXY” has been in a downtrend in recent weeks which, as per Jim Cramer, will likely deliver a boost to shares of Procter & Gamble moving forward. On CNBC’s “Squawk on the Street”, he said:

The dollar is sinking like a stone … so, you buy P&G and just ride it. Procter & Gamble is so much better than it used to be.

His view is in line with Wall Street that also currently rates the NYSE stock at “overweight”.

Ken Fisher recently loaded up on shares of P&G

The U.S. dollar index has lost about 2.5% since the start of November.  

Cramer is constructive also because he expects a continued deceleration in commodity costs to be a meaningful benefit for Procter & Gamble in which his Charitable Trust does have a stake.

Female representation in STEM professions remains low, and in some regions around the world, it's even in the single digits. #PGInnovation

— Procter & Gamble (@ProcterGamble) November 11, 2023

Note that Ken Fisher – the top boss of Fisher Investments has recently more than doubled his position in P&G as well. He now owns a total of about 9.9 million shares of the Cincinnati-headquartered multinational.

Procter & Gamble is attractive also because it pays a dividend yield of 2.46%. Its guidance for fiscal 2024 currently sits at a 2.0% to 4.0% increase in revenue.

The post Cramer: buy P&G as it is ‘so much better than it used to be’ appeared first on Invezz

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