Sunbeam Capital Management LLC Acquires New Holdings in The Procter & Gamble Company (NYSE:PG)

Sunbeam Capital Management LLC purchased a new position in shares of The Procter & Gamble Company (NYSE:PG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 44,637 shares of the company's stock, valued at approximately $7,483,000. Procter & Gamble makes up 6.9% of Sunbeam Capital Management LLC's investment portfolio, making the stock its 3rd biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in PG. NewSquare Capital LLC lifted its holdings in shares of Procter & Gamble by 933.3% in the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company's stock valued at $26,000 after purchasing an additional 140 shares during the last quarter. Navigoe LLC purchased a new stake in Procter & Gamble during the fourth quarter valued at about $31,000. Hoey Investments Inc. grew its position in Procter & Gamble by 321.7% during the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company's stock valued at $33,000 after acquiring an additional 148 shares during the period. LFA Lugano Financial Advisors SA acquired a new position in shares of Procter & Gamble during the fourth quarter worth about $34,000. Finally, 10Elms LLP acquired a new position in shares of Procter & Gamble in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 65.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PG shares. Bank of America dropped their price target on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Barclays reiterated an "equal weight" rating on shares of Procter & Gamble in a research report on Thursday, March 27th. Piper Sandler raised their target price on Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Citigroup lowered their target price on Procter & Gamble from $200.00 to $181.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Redburn Atlantic cut Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price target on the stock. in a research report on Thursday, May 1st. Eight analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $178.52.

Insider Transactions at Procter & Gamble

In related news, CEO Jennifer L. Davis sold 1,000 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total value of $161,380.00. Following the completion of the transaction, the chief executive officer now owns 51,965 shares of the company's stock, valued at approximately $8,386,111.70. This trade represents a 1.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the sale, the insider now directly owns 25,182 shares of the company's stock, valued at approximately $3,995,627.94. The trade was a 29.47% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Price Performance

Shares of NYSE PG traded up $1.71 during mid-day trading on Friday, reaching $170.27. 3,741,191 shares of the company were exchanged, compared to its average volume of 8,062,080. The company's 50 day moving average price is $164.21 and its 200 day moving average price is $167.36. The Procter & Gamble Company has a 52 week low of $156.58 and a 52 week high of $180.43. The stock has a market capitalization of $399.20 billion, a PE ratio of 27.11, a PEG ratio of 3.76 and a beta of 0.41. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.01. The firm had revenue of $19.78 billion for the quarter, compared to the consensus estimate of $20.42 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business's revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.52 earnings per share. Sell-side analysts forecast 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 disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were paid a $1.0568 dividend. This represents a $4.23 annualized dividend and a dividend yield of 2.48%. This is a positive change from Procter & Gamble's previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Monday, April 21st. Procter & Gamble's dividend payout ratio is 66.98%.

Procter & Gamble Profile

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.