Cornerstone Advisors LLC acquired a new position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 142,251 shares of the company's stock, valued at approximately $20,860,000.
Other hedge funds also recently modified their holdings of the company. Tortoise Investment Management LLC acquired a new stake in shares of Procter & Gamble in the second quarter worth $361,000. Aegis Wealth Management LLC acquired a new position in Procter & Gamble during the second quarter valued at $285,000. Pavion Blue Capital LLC purchased a new stake in Procter & Gamble in the 2nd quarter worth about $4,790,000. UNIVEST FINANCIAL Corp acquired a new stake in Procter & Gamble during the 2nd quarter worth about $3,478,000. Finally, Grandfield & Dodd LLC acquired a new stake in Procter & Gamble during the 2nd quarter worth about $17,604,000. Hedge funds and other institutional investors own 65.77% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on PG shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $163.00 target price on shares of Procter & Gamble in a report on Monday, April 27th. Jefferies Financial Group raised their price target on shares of Procter & Gamble from $177.00 to $179.00 and gave the stock a "buy" rating in a report on Friday, June 26th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Procter & Gamble in a research report on Wednesday. Argus downgraded shares of Procter & Gamble from a "buy" rating to a "hold" rating in a research report on Friday, August 7th. Finally, Sanford C. Bernstein started coverage on shares of Procter & Gamble in a research note on Thursday, June 11th. They set a "market perform" rating and a $156.00 target price for the company. Thirteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $161.52.
Get Our Latest Stock Analysis on Procter & Gamble
Procter & Gamble Stock Performance
Shares of PG stock opened at $144.77 on Friday. Procter & Gamble Company has a fifty-two week low of $137.62 and a fifty-two week high of $167.25. The stock's 50-day moving average is $147.73 and its two-hundred day moving average is $148.69. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.68 and a quick ratio of 0.47. The firm has a market cap of $336.51 billion, a P/E ratio of 21.87, a PEG ratio of 4.46 and a beta of 0.39.
Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.02. The business had revenue of $21.20 billion during the quarter, compared to analyst estimates of $21.38 billion. Procter & Gamble had a return on equity of 31.36% and a net margin of 18.44%.The firm's revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.48 EPS. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. Analysts predict that Procter & Gamble Company will post 6.98 earnings per share for the current fiscal year.
Procter & Gamble Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, July 24th were paid a $1.0885 dividend. The ex-dividend date was Friday, July 24th. This represents a $4.35 dividend on an annualized basis and a yield of 3.0%. Procter & Gamble's payout ratio is 65.71%.
About Procter & Gamble
(
Free Report)
Procter & Gamble NYSE: PG is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world's largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.
P&G's product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.
See Also
Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Procter & Gamble Company (The) (NYSE:PG - Free Report).
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