Birmingham Capital Management Co. Inc. AL Buys Shares of 33,510 Procter & Gamble Company (The) $PG

Key Points

• Birmingham Capital Management acquired 33,510 Procter & Gamble shares in the second quarter, worth approximately $4.9 million and representing 1.9% of its portfolio. Institutional investors and hedge funds collectively own 65.77% of PG.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $161.19, compared with the stock’s reported price of $143.71.
• Procter & Gamble exceeded quarterly EPS expectations, reporting $1.43 versus the $1.41 consensus, while revenue rose 1.5% year over year to $21.20 billion. The company also pays an annualized dividend of $4.35, yielding about 3.0%.

Birmingham Capital Management Co. Inc. AL acquired a new stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 33,510 shares of the company's stock, valued at approximately $4,914,000. Procter & Gamble comprises approximately 1.9% of Birmingham Capital Management Co. Inc. AL's investment portfolio, making the stock its 15th biggest position.

A number of other hedge funds have also modified their holdings of PG. BlackRock Inc. bought a new stake in Procter & Gamble in the second quarter valued at approximately $27,862,105,000. State Street Corp increased its position in shares of Procter & Gamble by 1.0% in the 4th quarter. State Street Corp now owns 101,618,926 shares of the company's stock valued at $14,563,008,000 after buying an additional 984,102 shares in the last quarter. Geode Capital Management LLC raised its stake in Procter & Gamble by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 62,647,882 shares of the company's stock worth $8,962,689,000 after buying an additional 1,974,556 shares during the period. Norges Bank bought a new position in Procter & Gamble during the fourth quarter worth about $4,664,783,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Procter & Gamble by 3.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,612,826 shares of the company's stock worth $4,243,815,000 after acquiring an additional 1,091,091 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Procter & Gamble

In related news, CAO Matthew W. Janzaruk sold 359 shares of the business's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $145.24, for a total value of $52,141.16. Following the sale, the chief accounting officer owned 1,271 shares of the company's stock, valued at $184,600.04. The trade was a 22.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Marc S. Pritchard sold 4,030 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $143.79, for a total value of $579,473.70. Following the completion of the sale, the insider directly owned 187,001 shares of the company's stock, valued at approximately $26,888,873.79. The trade was a 2.11% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 valued at $953,417 in the last 90 days. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Barclays lifted 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 note on Tuesday, July 21st. Argus downgraded shares of Procter & Gamble from a "buy" rating to a "hold" rating in a research report on Friday, August 7th. JPMorgan Chase & Co. dropped their price objective on shares of Procter & Gamble from $164.00 to $162.00 and set an "overweight" rating on the stock in a report on Thursday, July 16th. BMO Capital Markets lifted their price target on Procter & Gamble from $169.00 to $170.00 and gave the company an "outperform" rating in a research note on Monday, June 29th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Procter & Gamble in a report on Wednesday, June 24th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $161.19.

Procter & Gamble Price Performance

NYSE:PG opened at $143.71 on Friday. Procter & Gamble Company has a 52 week low of $137.62 and a 52 week high of $167.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.47 and a current ratio of 0.68. The firm's 50-day simple moving average is $147.11 and its 200 day simple moving average is $148.28. The firm has a market cap of $334.04 billion, a price-to-earnings ratio of 21.71, a P/E/G ratio of 4.43 and a beta of 0.39.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.02. Procter & Gamble had a return on equity of 31.36% and a net margin of 18.44%.The firm had revenue of $21.20 billion for the quarter, compared to analyst estimates of $21.38 billion. During the same quarter last year, the company earned $1.48 EPS. The company's 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. As a group, sell-side analysts predict that Procter & Gamble Company will post 6.98 earnings per share for the current year.

Procter & Gamble Announces Dividend

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