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

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.

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:

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.

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.