Investors don't get many opportunities to buy stellar businesses at attractive prices. These companies tend to exhibit obvious competitive advantages that make them popular on Wall Street, even when markets decline.

Procter & Gamble (NYSE: PG) seems to fit right into this category of excellent businesses that fetch a high premium. Shares are trading just below the all-time high of $165 that was set back in late 2021. P&G is valued at a premium compared to peers like Kimberly Clark (NYSE: KMB), even while sales growth is sluggish.

Can investors still see solid returns from owning this consumer staples giant over the long term? The short answer is yes, but patience will likely be a critical part of the process. Let's dive right in.

Continue reading

Source Fool.com