P&Gs (NYSE:PG) share price performed well during the quarter. Recently, the company reduced its share count by approximately 4% by completing a transaction combining its beauty and fragrances businesses with Coty. Over the last few years, P&G has sold-off many non-core and slow-growing brands to focus on reinvigorating its core franchises. P&G management is increasing investment in many of its remaining brands, which we believe can lead to improved growth over time.
From Yacktman Focused Fund (Trades, Portfolio)s' third quarter 2016 commentary.
The views expressed represent the opinions of Yacktman Asset Management LP as of September 30, 2016, are not intended as a forecast or guarantee of future results, and are subject to change without notice.
