We are selling 70 shares of Procter & Gamble at roughly $166.45. Following the trade, Jim Cramer’s Charitable Trust will own 450 shares of PG, decreasing its weighting in the portfolio to roughly 2.35% from 2.72%. In keeping with our discipline when the S & P Oscillator is overbought , we’re raising some cash this morning. Procter & Gamble has gone on a solid run since reporting earnings on April 19, gaining roughly 5%. The rally has put the stock at a new all-time high. You might remember that shares initially dipped after the company released its results as the market nitpicked a tiny sales miss. However, we were encouraged by the sequential improvement in volumes, which would have been even better if not for a one-time impact from inventory destocking. In addition, the 300 basis point improvement in gross margins confirmed our thesis of falling input costs leading to a significant lift in earnings per share. The good quarter and follow-through rally confirmed our decision to add 30 shares to our position at around $156 in early April when the stock got knocked down a few percent in reaction to a downbeat comment by Ulta Beauty about the health of the beauty market. With PG stock up about $10 since then, we are selling those shares back and some more due to an overbought market as we downgrade our rating to a 2. We’ll realize a gain of about 7% on stock purchased in May 2022. (Jim Cramer’s Charitable Trust is long PG. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
