Bank of New York Mellon Corp Invests $2.28 Billion in Procter & Gamble Company (The) $PG

Bank of New York Mellon Corp bought a new stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 15,558,541 shares of the company's stock, valued at approximately $2,281,505,000. Bank of New York Mellon Corp owned 0.67% of Procter & Gamble at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PG. Brighton Jones LLC boosted its stake in shares of Procter & Gamble by 51.5% during the 4th quarter. Brighton Jones LLC now owns 40,068 shares of the company's stock worth $6,717,000 after acquiring an additional 13,617 shares in the last quarter. Taylor Financial Group Inc. increased its stake in shares of Procter & Gamble by 10.6% in the 1st quarter. Taylor Financial Group Inc. now owns 2,891 shares of the company's stock valued at $493,000 after purchasing an additional 277 shares in the last quarter. Sivia Capital Partners LLC increased its stake in shares of Procter & Gamble by 19.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 6,144 shares of the company's stock valued at $979,000 after purchasing an additional 1,016 shares in the last quarter. Auxano Advisors LLC raised its holdings in Procter & Gamble by 10.8% in the 2nd quarter. Auxano Advisors LLC now owns 7,315 shares of the company's stock worth $1,165,000 after purchasing an additional 714 shares during the period. Finally, Schnieders Capital Management LLC. boosted its position in Procter & Gamble by 2.8% during the second quarter. Schnieders Capital Management LLC. now owns 30,182 shares of the company's stock worth $4,809,000 after purchasing an additional 809 shares in the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. JPMorgan Chase & Co. dropped their price objective on Procter & Gamble from $164.00 to $162.00 and set an "overweight" rating on the stock in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $163.00 target price on shares of Procter & Gamble in a research report on Monday, April 27th. UBS Group lifted their price target on shares of Procter & Gamble from $166.00 to $172.00 and gave the company a "buy" rating in a research note on Monday, April 27th. Royal Bank Of Canada reissued an "outperform" rating on shares of Procter & Gamble in a report on Wednesday. Finally, TD Cowen upped their price objective on shares of Procter & Gamble from $142.00 to $150.00 and gave the stock a "hold" rating in a research report on Monday, April 27th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Procter & Gamble presently has an average rating of "Moderate Buy" and a consensus target price of $161.52.

Procter & Gamble Stock Performance

Shares of NYSE:PG opened at $143.00 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.68 and a quick ratio of 0.47. Procter & Gamble Company has a 1 year low of $137.62 and a 1 year high of $167.25. The firm has a market capitalization of $332.39 billion, a PE ratio of 21.60, a P/E/G ratio of 4.45 and a beta of 0.39. The business's 50 day moving average price is $147.83 and its 200-day moving average price is $148.72.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.02. The company had revenue of $21.20 billion for the quarter, compared to analysts' expectations of $21.38 billion. Procter & Gamble had a net margin of 18.44% and a return on equity of 31.36%. The firm's quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.48 EPS. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. As a group, equities research analysts expect that Procter & Gamble Company will post 6.98 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, July 24th were issued a dividend of $1.0885 per share. This represents a $4.35 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, July 24th. Procter & Gamble's payout ratio is currently 65.71%.

Procter & Gamble Profile

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.

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