Bank of Nova Scotia Has $86.51 Million Position in Procter & Gamble Company (The) $PG

Key Points

• Bank of Nova Scotia cut its Procter & Gamble stake by 45.1% in the second quarter, selling 483,863 shares and retaining 589,838 shares valued at $86.51 million. Institutional investors collectively own 65.77% of PG.
• Analyst sentiment remains moderately positive, with 13 Buy ratings and 11 Holds producing a consensus “Moderate Buy” rating and an average price target of $161.19.
• PG recently reported quarterly EPS of $1.43, exceeding estimates, while revenue rose 1.5% year over year to $21.20 billion. The company also maintains a quarterly dividend of $1.0885, equivalent to a 3.0% annualized yield.

Bank of Nova Scotia lessened its holdings in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 45.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 589,838 shares of the company's stock after selling 483,863 shares during the quarter. Bank of Nova Scotia's holdings in Procter & Gamble were worth $86,512,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PG. BlackRock Inc. bought a new stake in Procter & Gamble during the 2nd quarter worth approximately $27,862,105,000. Norges Bank bought a new position in shares of Procter & Gamble in the fourth quarter valued at approximately $4,664,783,000. Bank of New York Mellon Corp purchased a new position in shares of Procter & Gamble during the second quarter valued at approximately $2,281,505,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Procter & Gamble during the second quarter valued at approximately $1,480,650,000. Finally, Cardano Risk Management B.V. grew its holdings in Procter & Gamble by 1,104.8% during the fourth quarter. Cardano Risk Management B.V. now owns 9,521,440 shares of the company's stock worth $1,364,518,000 after buying an additional 8,731,126 shares in the last quarter. 65.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, insider Susan Street Whaley sold 2,238 shares of the business's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $143.79, for a total value of $321,802.02. Following the sale, the insider directly owned 26,989 shares in the company, valued at $3,880,748.31. The trade was a 7.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Marc S. Pritchard sold 4,030 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $143.79, for a total value of $579,473.70. Following the transaction, the insider owned 187,001 shares of the company's stock, valued at $26,888,873.79. The trade was a 2.11% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 6,627 shares of company stock worth $953,417 over the last ninety days. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PG has been the topic of several recent analyst reports. Royal Bank Of Canada restated an "outperform" rating on shares of Procter & Gamble in a research note on Wednesday, August 19th. Weiss Ratings reiterated a "hold (c)" rating on shares of Procter & Gamble in a research note on Wednesday, June 24th. Citigroup lowered their target price on shares of Procter & Gamble from $181.00 to $170.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Barclays raised their price target on shares of Procter & Gamble from $146.00 to $152.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 21st. Finally, BMO Capital Markets increased their price objective on shares of Procter & Gamble from $169.00 to $170.00 and gave the company an "outperform" rating in a research note on Monday, June 29th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, Procter & Gamble has a consensus rating of "Moderate Buy" and an average price target of $161.19.

Procter & Gamble Trading Down 0.3%

Shares of Procter & Gamble stock opened at $145.02 on Thursday. Procter & Gamble Company has a 1 year low of $137.62 and a 1 year high of $167.25. The firm has a market cap of $337.09 billion, a PE ratio of 21.91, a P/E/G ratio of 4.48 and a beta of 0.39. The stock has a fifty day moving average price of $147.41 and a 200-day moving average price of $148.42. 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 (NYSE:PG - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.02. Procter & Gamble had a net margin of 18.44% and a return on equity of 31.36%. The firm had revenue of $21.20 billion for the quarter, compared to analysts' expectations of $21.38 billion. During the same period in the previous year, the company earned $1.48 earnings per share. The company's quarterly revenue was up 1.5% on a year-over-year basis. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. Equities research analysts anticipate that Procter & Gamble Company will post 6.98 EPS for the current year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, July 24th were given a $1.0885 dividend. This represents a $4.35 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, July 24th. Procter & Gamble's dividend payout ratio (DPR) is currently 65.71%.

Procter & Gamble Company 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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