Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, April 11, 2014

Article Excerpt

PLEASE NOTE: Due to the Good Friday holiday, our next Hotline will go out on Thursday, April 17, 2014. PROCTER & GAMBLE CO., $80.76, New York symbol PG, is selling most of its pet food business to privately held Mars Inc. Under the deal, Mars will get the right to make Iams, Eukanuba and Natura pet foods in North America and Latin America, which supply 80% of these brands’ sales. Procter aims to sell its remaining pet food operations in Europe and elsewhere, probably in the next few months. That will let it focus on its more-profitable household and personal care products. Procter will receive $2.9 billion when the deal closes in the second half of 2014. That’s equal to 85% of the $3.4 billion, or $1.18 a share, the company earned in the three months ended December 31, 2013. The company also raised its dividend by 7.0% this week. The new annual rate of $2.57 a share yields 3.2%. Procter & Gamble is a..