Add Procter & Gamble to Your Roster - TheStreet

Add Procter & Gamble to Your Roster

The household goods company looks ready to reward investors.
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Retooling. Every team in the National Football League is doing it this time of year -- even the Super Bowl champs. Everyone is trying to get a leg up on the competition for the upcoming season. And, in many ways, it's one of the most important time periods for any team.

Not only are rookies drafted into the league and divided up among the 32 teams, but free agents change hands and franchises decide which veterans they can afford and which ones they need to part ways with in order to make room under the salary cap for other players. And then there are the trades. With 32 teams and 53 players on each team, there are a lot of decisions to be made.

Just take a look at some of the recent off-season activity and you'll see what I mean -- there has not been any shortage of changes. The Falcons have added ex-Chargers running back Michael Turner and cut Warrick Dunn. The Carolina Panthers welcomed wide receiver Muhsin Muhammad back into the fold while running back Dominic Rhodes returned to Indianapolis after a one-year stop donning the silver and black.

The Seahawks sent running back Shaun Alexander packing, while wide receiver Bernard Berrian switched from Chicago to Minnesota. Cleveland grabbed Donte Stallworth and Denver inked former Tampa Bay Buc Michael Pittman. And longtime dolphin Zach Thomas joined the 'Boys.

Some teams aggressively made over their roster during the offseason. After falling from a playoff team in 2006 to a 4-12 record last season, the New York Jets traded Jonathan Vilma and brought in offensive lineman Alan Faneca, defensive tackle Kris Jenkins and linebacker/defensive end Calvin Pace.

Determining value and making adjustments are part of the game. Its also how I -- and how most people -- approach investing. Some portfolios need a major overhaul, while others need a few tweaks here and there. Either way, for today's portfolio adjustment, I have a good play to add to your roster:

Procter & Gamble

(PG) - Get Report

.

The company sells a lot of products that won't be impacted by the economy. People will still brush their teeth and wash their hair even if the economy runs into a wall. I also like the fact that the company has been increasing its profits, despite some difficult market conditions.

It's a solid company and one that everyone knows. I believe it is worth the price. PG opened trading today at $65.32, which is in the lower half of its 52-week range of $60.76 to $75.18. It's time to go long with PG.

"Keep moving the chains!"

Know What You Own

: PG operates in the personal products industry, and some of the other stocks in its field include

Johnson & Johnson

(JNJ) - Get Report

,

Kimberly-Clark

(KMB) - Get Report

and

Colgate-Palmolive

(CL) - Get Report

. These stocks were recently trading at $65.03, -0.18%; $63.26, -0.32%; and $72.43, -0.03%, respectively. For more on the value of knowing what you own, visit TheStreet.com's

Investing A-to-Z

section.

At the time of publication, Brown had no positions in stocks mentioned, although positions may change at any time.

Tim Brown played 16 seasons in the NFL, where he made nine Pro Bowls. After a brief stint with the Tampa Bay Buccaneers in 2004, Brown retired as an Oakland Raider. He was a Heisman Trophy winner in college for Notre Dame.