I bought another 25% of my total target shares of PG. Currently I hold 50% of my total position objective. Why did I buy?
1. expanding profit margins
2. good cash flow from operations
3. increase in stock price during the past year
4. growth in earnings per share.
PE is 17x which is in line with the personal & household industry median of 16.42 and industry average of 19.72x
Did I overpay? Possibly, but I waited 11 days for this stock to drop to my strike price. If support holds, this stock should be over $60 this week.
This will be a long term hold due to value and the 2.9% dividend yield.