47,940 Shares in Procter & Gamble Company (The) (NYSE:PG) Acquired by CCM Investment Group LLC

Key Points

• CCM Investment Group LLC has acquired 47,940 shares of Procter & Gamble, amounting to roughly $8.05 million, making it the firm's 11th largest holding.
• Procter & Gamble recently reported a quarterly EPS of $1.48, surpassing estimates and indicating a 1.7% increase in year-over-year revenue.
• The company declared a quarterly dividend of $1.0568 per share, yielding 2.8%, with a payout ratio of 64.98%.

CCM Investment Group LLC purchased a new position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 47,940 shares of the company's stock, valued at approximately $8,055,000. Procter & Gamble comprises approximately 0.9% of CCM Investment Group LLC's investment portfolio, making the stock its 11th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in PG. Unique Wealth LLC raised its position in shares of Procter & Gamble by 2.9% in the first quarter. Unique Wealth LLC now owns 2,141 shares of the company's stock worth $365,000 after acquiring an additional 61 shares during the period. Stableford Capital II LLC raised its position in shares of Procter & Gamble by 1.1% in the first quarter. Stableford Capital II LLC now owns 5,817 shares of the company's stock worth $993,000 after acquiring an additional 61 shares during the period. Bernard Wealth Management Corp. raised its position in shares of Procter & Gamble by 20.2% in the first quarter. Bernard Wealth Management Corp. now owns 375 shares of the company's stock worth $64,000 after acquiring an additional 63 shares during the period. B & T Capital Management DBA Alpha Capital Management raised its position in shares of Procter & Gamble by 2.3% in the first quarter. B & T Capital Management DBA Alpha Capital Management now owns 2,795 shares of the company's stock worth $476,000 after acquiring an additional 63 shares during the period. Finally, Kolinsky Wealth Management LLC raised its position in shares of Procter & Gamble by 1.1% in the fourth quarter. Kolinsky Wealth Management LLC now owns 5,738 shares of the company's stock worth $962,000 after acquiring an additional 64 shares during the period. Institutional investors own 65.77% of the company's stock.

Procter & Gamble Price Performance

PG stock traded up $1.52 during mid-day trading on Monday, reaching $155.03. The company's stock had a trading volume of 7,327,441 shares, compared to its average volume of 7,956,396. The stock has a market cap of $363.13 billion, a PE ratio of 23.81, a P/E/G ratio of 4.05 and a beta of 0.37. The company has a current ratio of 0.70, a quick ratio of 0.49 and a debt-to-equity ratio of 0.49. Procter & Gamble Company has a fifty-two week low of $149.91 and a fifty-two week high of $180.43. The company's 50 day moving average is $158.01 and its two-hundred day moving average is $163.60.

Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $20.79 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. Procter & Gamble's quarterly revenue was up 1.7% on a year-over-year basis. Equities research analysts expect that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be paid a $1.0568 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $4.23 annualized dividend and a dividend yield of 2.7%. Procter & Gamble's dividend payout ratio is 64.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PG shares. Piper Sandler upped their price objective on shares of Procter & Gamble from $160.00 to $164.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Royal Bank Of Canada upgraded shares of Procter & Gamble from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $164.00 to $177.00 in a research report on Friday, April 25th. Citigroup reduced their price target on shares of Procter & Gamble from $200.00 to $181.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Bank of America reduced their price target on shares of Procter & Gamble from $190.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, Truist Financial reduced their price target on shares of Procter & Gamble from $185.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, April 25th. 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 MarketBeat.com, Procter & Gamble presently has an average rating of "Moderate Buy" and a consensus target price of $175.88.

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.