Jason Snipe, CIO, Odyssey Capital Advisors
Procter & Gamble
PG-N
BUY
Oct 18, 2024
They beat on the topline, but missed the bottom, because China was -15%, though it was expected. Organic sales were fine and reiterated guidance. Trades at a too-pricey 24x forward. He doesn't like staples, but continues to like this.
Very stable, reliable earnings. Decent, but not fantastic, growth. About 7% earnings growth forecast for next little while, but you're paying 23-24x PE.
OK if you think a recession is around the corner. He doesn't, so he'd favour COST and WMT for continued mid-cycle economic growth.
Trades at 24x forward PE at only 1% organic growth. She's surprised they raised prices again, though they have pricing power, but at some point it will hurt volumes.
A dividend play for 2025 at 2.38%. Not sexy, but consistently generates earnings, free cash flow, and each year grows its dividend. Offers growth wealth generation over time.
Is enjoying the rotation out of semis/tech stocks today, up 3.38%. It's been undervalued lately. Has more room to run; he expects the rotation to continue beyond today.
They beat on the topline, but missed the bottom, because China was -15%, though it was expected. Organic sales were fine and reiterated guidance. Trades at a too-pricey 24x forward. He doesn't like staples, but continues to like this.