Cascade Financial Partners LLC Raises Holdings in Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Cascade Financial Partners LLC significantly increased its holdings in Procter & Gamble by 121.1%, owning 4,656 shares worth approximately $793,000.
• Procter & Gamble's recent quarterly earnings surpassed analysts' expectations, reporting $1.48 EPS and a revenue of $20.89 billion.
• Various analysts have adjusted their ratings on Procter & Gamble, with seven holding a "hold" rating and 11 giving a "buy" rating, resulting in a consensus rating of "Moderate Buy."

Cascade Financial Partners LLC lifted its stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 121.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,656 shares of the company's stock after buying an additional 2,550 shares during the quarter. Cascade Financial Partners LLC's holdings in Procter & Gamble were worth $793,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Seven Mile Advisory boosted its stake in shares of Procter & Gamble by 7.5% in the first quarter. Seven Mile Advisory now owns 4,200 shares of the company's stock worth $716,000 after buying an additional 292 shares during the last quarter. LeConte Wealth Management LLC purchased a new stake in shares of Procter & Gamble in the first quarter worth about $240,000. Northwest & Ethical Investments L.P. boosted its stake in shares of Procter & Gamble by 12.7% in the first quarter. Northwest & Ethical Investments L.P. now owns 168,332 shares of the company's stock worth $28,686,000 after buying an additional 18,904 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of Procter & Gamble by 1.3% in the first quarter. Steward Partners Investment Advisory LLC now owns 294,962 shares of the company's stock worth $50,267,000 after buying an additional 3,758 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its stake in shares of Procter & Gamble by 4.2% in the first quarter. Raymond James Financial Inc. now owns 6,283,992 shares of the company's stock worth $1,070,918,000 after buying an additional 255,449 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company's stock.

Wall Street Analyst Weigh In

PG has been the subject of a number of analyst reports. Erste Group Bank cut Procter & Gamble from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Truist Financial reduced their price target on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating for the company in a report on Friday, April 25th. Evercore ISI reaffirmed an "in-line" rating and issued a $170.00 price target (down previously from $190.00) on shares of Procter & Gamble in a report on Monday, July 14th. Wells Fargo & Company reduced their price target on Procter & Gamble from $175.00 to $173.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Finally, Redburn Atlantic cut Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price target for the company. in a report on Thursday, May 1st. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $175.94.

Procter & Gamble Price Performance

PG stock opened at $154.30 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.70 and a quick ratio of 0.49. The business has a 50 day simple moving average of $157.19 and a 200-day simple moving average of $163.27. The firm has a market capitalization of $361.43 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 4.07 and a beta of 0.37. Procter & Gamble Company has a 1 year low of $149.91 and a 1 year high of $180.43.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.06. The business had revenue of $20.89 billion during the quarter, compared to analyst estimates of $20.79 billion. Procter & Gamble had a return on equity of 32.69% and a net margin of 18.95%. The business's revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.40 earnings per share. Equities research analysts anticipate that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 18th were given a $1.0568 dividend. This represents a $4.23 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, July 18th. Procter & Gamble's dividend payout ratio is presently 64.98%.

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.

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