Concentric Capital Strategies LP Takes Position in The Procter & Gamble Company (NYSE:PG)

Concentric Capital Strategies LP purchased a new position in The Procter & Gamble Company (NYSE:PG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,139 shares of the company's stock, valued at approximately $359,000.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its position in Procter & Gamble by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 229,794,073 shares of the company's stock valued at $38,524,976,000 after acquiring an additional 1,592,061 shares during the period. Geode Capital Management LLC increased its holdings in shares of Procter & Gamble by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 56,472,195 shares of the company's stock valued at $9,457,000,000 after purchasing an additional 1,267,419 shares during the period. Norges Bank bought a new stake in shares of Procter & Gamble during the fourth quarter valued at about $5,244,463,000. Northern Trust Corp lifted its holdings in Procter & Gamble by 10.1% in the fourth quarter. Northern Trust Corp now owns 29,395,208 shares of the company's stock worth $4,928,107,000 after purchasing an additional 2,703,757 shares during the period. Finally, Franklin Resources Inc. increased its stake in Procter & Gamble by 6.4% during the 4th quarter. Franklin Resources Inc. now owns 20,197,996 shares of the company's stock valued at $3,386,194,000 after buying an additional 1,209,275 shares during the period. Institutional investors own 65.77% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PG shares. Wells Fargo & Company increased their price objective on shares of Procter & Gamble from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Thursday, January 23rd. UBS Group reiterated a "buy" rating on shares of Procter & Gamble in a research report on Monday, February 10th. Piper Sandler upped their price objective on Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a report on Monday, May 5th. DA Davidson reaffirmed a "buy" rating and set a $209.00 target price on shares of Procter & Gamble in a report on Thursday, January 23rd. Finally, Citigroup cut their price target on shares of Procter & Gamble from $200.00 to $181.00 and set a "buy" rating for the company in a report on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Procter & Gamble has an average rating of "Moderate Buy" and an average target price of $178.52.

Insider Activity at Procter & Gamble

In other news, CEO Gary A. Coombe sold 35,000 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the completion of the transaction, the chief executive officer now owns 22,051 shares of the company's stock, valued at approximately $3,829,817.68. This represents a 61.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of Procter & Gamble stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $158.67, for a total value of $1,669,208.40. Following the sale, the insider now directly owns 25,182 shares in the company, valued at approximately $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,520 shares of company stock worth $10,999,268 in the last ninety days. 0.18% of the stock is currently owned by insiders.

Procter & Gamble Stock Up 2.0%

Shares of NYSE:PG traded up $3.22 during midday trading on Monday, hitting $160.88. 7,377,671 shares of the stock were exchanged, compared to its average volume of 7,202,378. The company has a market capitalization of $377.18 billion, a PE ratio of 25.62, a P/E/G ratio of 3.76 and a beta of 0.41. The business's fifty day simple moving average is $165.92 and its two-hundred day simple moving average is $167.54. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The Procter & Gamble Company has a 52-week low of $156.30 and a 52-week high of $180.43.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.53 by $0.01. The business had revenue of $19.78 billion during the quarter, compared to analysts' expectations of $20.42 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. Procter & Gamble's revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.52 earnings per share. As a group, research analysts predict that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, April 21st will be given a dividend of $1.0568 per share. The ex-dividend date is Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a yield of 2.63%. This is a positive change from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's payout ratio is 66.98%.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.