Element Capital Management LLC Acquires New Holdings in Procter & Gamble Company (The) $PG

Key Points

• Element Capital Management LLC has acquired 16,373 shares of Procter & Gamble, valued at approximately $2.79 million, making it the company’s 21st largest position.
• Procter & Gamble recently reported earnings of $1.48 per share, surpassing estimates, with revenue reaching $20.89 billion, reflecting a year-over-year growth of 1.7%.
• The company declared a quarterly dividend of $1.0568 per share, which equates to an annualized rate of $4.23 with a dividend yield of 2.7%.

Element Capital Management LLC acquired a new stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 16,373 shares of the company's stock, valued at approximately $2,790,000. Procter & Gamble accounts for 0.7% of Element Capital Management LLC's portfolio, making the stock its 21st biggest holding.

Several other hedge funds have also bought and sold shares of PG. Northern Trust Corp lifted its position in shares of Procter & Gamble by 10.1% during 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 last quarter. Goldman Sachs Group Inc. boosted its position in Procter & Gamble by 3.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 17,405,539 shares of the company's stock worth $2,966,252,000 after purchasing an additional 583,629 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Procter & Gamble by 1.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 17,090,898 shares of the company's stock valued at $2,911,989,000 after buying an additional 208,991 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Procter & Gamble by 15.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,274,563 shares of the company's stock valued at $2,728,430,000 after purchasing an additional 2,224,912 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Procter & Gamble by 19.8% in the 1st quarter. Invesco Ltd. now owns 13,493,604 shares of the company's stock worth $2,299,580,000 after acquiring an additional 2,228,151 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. UBS Group set a $180.00 target price on Procter & Gamble and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Redburn Atlantic downgraded Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 target price on the stock. in a report on Thursday, May 1st. Royal Bank Of Canada upgraded Procter & Gamble from a "sector perform" rating to an "outperform" rating and raised their target price for the company from $164.00 to $177.00 in a research report on Friday, April 25th. Raymond James Financial decreased their target price on Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $170.00 price target (down from $178.00) on shares of Procter & Gamble in a research note on Friday, July 25th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $175.94.

Procter & Gamble Price Performance

Shares of NYSE PG traded up $0.56 during trading on Friday, hitting $154.30. 7,120,993 shares of the company were exchanged, compared to its average volume of 7,395,259. The company has a market cap of $361.43 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 4.07 and a beta of 0.37. Procter & Gamble Company has a 1 year low of $149.91 and a 1 year high of $180.43. The firm's fifty day moving average price is $157.19 and its 200 day moving average price is $163.24. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.70 and a quick ratio of 0.49.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.06. Procter & Gamble had a net margin of 18.95% and a return on equity of 32.69%. The company had revenue of $20.89 billion during the quarter, compared to the consensus estimate of $20.79 billion. During the same quarter in the prior year, the company posted $1.40 EPS. The company's quarterly revenue was up 1.7% compared to the same quarter last year. On average, sell-side analysts expect that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 18th were given a dividend of $1.0568 per share. The ex-dividend date of this dividend was Friday, July 18th. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.7%. Procter & Gamble's dividend payout ratio (DPR) is presently 64.82%.

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.