Updating your Conservative stocks: Procter & Gamble, Sherin-Williams and, Canon

Article Excerpt

PROCTER & GAMBLE CO. $152 (www.pg.com) is a buy. The personal and household products maker continues to benefit from its 2014 decision to shed about 100 of its less-important brands and focus on about 65 core brands. Between 2018 and 2022 (fiscal years end June 30), its sales (excluding acquisitions) rose at an average annual rate of 6%, while earnings per share (excluding currency rates) improved 12% annually. Due to rising input costs, earnings in fiscal 2023 will probably rise just 0.5% to $5.84 a share. The stock trades at still-reasonable 26.0 times that forecast. Procter & Gamble is a buy. SHERWIN-WILLIAMS CO. $242(www.sherwin-williams.com) remains a hold. The paint maker has agreed to acquire two German firms that make wood coatings for manufacturers of furniture and flooring products. The new operations will add roughly $70 million to its annual sales of $21.7 billion. However, the slowdown in new housing construction could slow its earnings growth in 2023. Sherwin-Williams is a hold. CANON INC. ADRs $22 (www.canon.com) is a hold. The company’s sales…