Earlier this week, the company said it would divest its antibacterial soap brand, Escudo, in Mexico and other Latin American countries to Kimberly-Clark Corp.'s (KMB) Mexican unit.
The sale is expected to close during the first half of 2016 subject to regulatory approvals.
Overall, Procter & Gamble has been working to slim down its product portfolio and focus on new strategies, according to Zacks Equity Research.
Cincinnati, OH-based Procter & Gamble manufactures and sells branded consumer products worldwide.
With the rotation from growth to value still happening in 2016, there is no surprise names like Procter & Gamble are getting some money flows.
The move up from the lows in September has been spectacular. The channel is well intact, and after a nice surge to start the year (unlike many others, this stock is up strong so far this year) we see this pausing and creating a bull flag/pennant.
What's nice is this has occurred on lower turnover, what you like to see during consolidation. The momentum indicator is solidly in bullish territory, but if/when there is an opportunity like in early February (arrow), that would be the time to take advantage.
Wan more from Versace, Lang and Wall Street's sharpest minds BEFORE your stock moves? Learn more about Trifecta Stocks now!