2024-05-28 02:19:04 ET
Summary
- Procter & Gamble excels in capital allocation, boasting a strong history of share buybacks and 67 consecutive years of dividend increases.
- P&G has effectively reduced its shares count by almost one third in 14 years and has returned $145 billion to shareholders in the last 10 years.
- While facing short-term challenges in the CPG industry, PG focuses on delivering superior products and leveraging pricing to offset volume declines. This is the company's "Moat", in my view.
- While I don't expect P&G to outperform the broader market, I rate the stock a Buy for investors looking to reduce portfolio volatility or focus on dividends.
Thesis: Procter & Gamble Shows Excellence In Capital Allocation, Beyond CPG Industry Volatility
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Procter & Gamble: Beyond Market Fluctuations, Shareholders Take Center Stage