AGF Management Ltd. Purchases 35,045 Shares of Procter & Gamble Company (The) (NYSE:PG)

Key Points

• AGF Management Ltd. significantly increased its holdings in Procter & Gamble Company by 1,014.0% during the first quarter, bringing its total to $6.56 million in value.
• Analysts have a Moderate Buy average rating for Procter & Gamble, with target prices ranging from $170.00 to $180.00 based on recent evaluations from major firms.
• Procter & Gamble recently declared a quarterly dividend of $1.0568, representing an annualized yield of 2.7% and a payout ratio of approximately 64.98%.

AGF Management Ltd. boosted its position in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 1,014.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,501 shares of the company's stock after acquiring an additional 35,045 shares during the quarter. AGF Management Ltd.'s holdings in Procter & Gamble were worth $6,561,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Cladis Investment Advisory LLC grew its stake in shares of Procter & Gamble by 5.2% during the fourth quarter. Cladis Investment Advisory LLC now owns 4,807 shares of the company's stock worth $806,000 after buying an additional 236 shares during the last quarter. FAS Wealth Partners Inc. grew its stake in shares of Procter & Gamble by 2.0% during the fourth quarter. FAS Wealth Partners Inc. now owns 27,690 shares of the company's stock worth $4,642,000 after buying an additional 549 shares during the last quarter. Benjamin Edwards Inc. grew its stake in shares of Procter & Gamble by 120.7% during the first quarter. Benjamin Edwards Inc. now owns 364,378 shares of the company's stock worth $62,098,000 after buying an additional 199,258 shares during the last quarter. Capital Investment Advisory Services LLC grew its stake in shares of Procter & Gamble by 13.8% during the first quarter. Capital Investment Advisory Services LLC now owns 37,709 shares of the company's stock worth $6,426,000 after buying an additional 4,562 shares during the last quarter. Finally, World Investment Advisors grew its stake in shares of Procter & Gamble by 6.0% in the first quarter. World Investment Advisors now owns 50,913 shares of the company's stock worth $8,677,000 after purchasing an additional 2,886 shares during the last quarter. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Stock Down 1.0%

Shares of NYSE PG traded down $1.58 during trading on Thursday, hitting $153.83. 6,342,893 shares of the company traded hands, compared to its average volume of 7,504,851. Procter & Gamble Company has a fifty-two week low of $149.91 and a fifty-two week high of $180.43. The firm has a market capitalization of $360.32 billion, a price-to-earnings ratio of 23.63, a P/E/G ratio of 4.10 and a beta of 0.37. The business's fifty day moving average is $157.38 and its 200 day moving average is $163.37. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.49 and a current ratio of 0.70.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $20.79 billion. During the same quarter in the prior year, the business posted $1.40 EPS. The firm's revenue was up 1.7% compared to the same quarter last year. Equities research analysts predict that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be issued a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, July 18th. Procter & Gamble's dividend payout ratio is currently 64.98%.

Analysts Set New Price Targets

Several brokerages recently weighed in on PG. Truist Financial reduced their price objective on shares of Procter & Gamble from $185.00 to $180.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Redburn Atlantic cut shares of Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price objective on the stock. in a research note on Thursday, May 1st. Raymond James Financial reduced their price objective on shares of Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Citigroup reduced their price objective on shares of Procter & Gamble from $200.00 to $181.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, UBS Group set a $180.00 target price on shares of Procter & Gamble and gave the company a "buy" rating in a report on Wednesday, July 30th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Procter & Gamble has an average rating of "Moderate Buy" and a consensus price target of $175.88.

Procter & Gamble Company 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.