New concern about beauty undeservedly knocks a portfolio stock. We’re buying

News Snapshot:

We're buying 30 shares of Procter & Gamble at roughly $156.41. Following Wednesday's trade, Jim Cramer's Charitable Trust will own 520 shares of PG, increasing its weighting to 2.52% from 2.38%. Shares of Procter & Gamble were off more than 2% on Wednesday after Ulta 's downbeat comments about the beauty market at the JPMorgan Retail Round Up conference. The beauty product retailer warned of a slowdown in the total beauty category across different price points and segments. This new outlook comes after several years of strong category growth, leading Ulta to guide first quarter comparable sales toward the lower...