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FMCG Stock Declares Record Date To Pay Dividend, Motilal Oswal Recommends Buy
Leading FMCG stock, Procter & Gamble Hygiene and Health Care has fixed February 8, 2023 as record date today to pay interim dividend on Monday. The current market price of the large cap stock is Rs 14065 apiece.
Brokerage firm Motilal Oswal in its November 8 report has recommended investors to buy P&G Hygiene and Healthcare with a target price of Rs 17,450 apiece. If you buy P&G Hygiene and Healthcare now, you will get 24% return. Check key details below:
1. P&G Hygiene and Healthcare Sets Record Date For Interim Dividend
The board of leading FMCG stock said in the BSE filing today, "We would like to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, January 31, 2023, inter alia, to consider and approve Unaudited Financial Results for the Quarter ended December 31, 2022. We would like to further inform you that the Board at the said meeting, would also consider declaration of interim dividend for the Financial Year 2022-23. The record date for payment of the Interim dividend, if declared at the Board meeting, will be Wednesday, February 8, 2023. Kindly take the same on record."
2. P&G Hygiene and Healthcare Stock Outlook & Return
The last trading price of the stock is Rs 14065 apiece with an intraday gain of 0.36%. The stock's 52-week high is Rs 16,466 apiece and 52-week low is Rs 12,751 apiece, respectively. The stock has given 26% return in last 3-years and 51% return in last 5-years. In last 1-year, the stock has declined 10%.
3. Valuation
According to Motilal Oswal, "The company should see rapid growth over the long term on the back of certain encouraging developments: (a) the increasing pace of distribution expansion, (b) the continuingly strong pace of category development efforts in schools to boost awareness and growth, (c) rising ad spends after a lull in preceding years, (d) a healthy pipeline of new products, (e) accelerated consumer entries into the category through launches at low price points, and (f) the willingness to take price cuts, whenever required, to boost growth. We maintain a Buy rating, with TP of INR17,450 (50x Dec'23 EPS)."
4. About P&G Hygiene and Healthcare
It is one of India's fastest growing Fast Moving Consumer Goods (FMCG) companies that has in its portfolio Whisper, Vicks, and Old Spice. Its manufacturing locations are based in Goa and Baddi in Himachal Pradesh apart from third party manufacturing locations spread all over India. It is the Indian subsidiary of The Procter & Gamble Company, USA.
Disclaimer
The stock has been picked from the brokerage report of Motilal Oswal. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.
