Procter & Gamble Company (The) (NYSE:PG) Position Raised by Citizens Financial Group Inc. RI

Key Points

• Citizens Financial Group Inc. RI increased its stake in Procter & Gamble by 1.3%, holding 591,453 shares valued at approximately $100.8 million, making it the fund's 10th largest position.
• Procter & Gamble's quarterly earnings showed an EPS of $1.48, surpassing estimates, with a net revenue of $20.89 billion, reflecting a year-over-year increase of 1.7%.
• The company announced a dividend of $1.0568 per share, resulting in an annualized yield of 2.8%, with a payout ratio of roughly 65%.

Citizens Financial Group Inc. RI grew its position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 1.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 591,453 shares of the company's stock after purchasing an additional 7,417 shares during the period. Procter & Gamble makes up 2.0% of Citizens Financial Group Inc. RI's portfolio, making the stock its 10th biggest holding. Citizens Financial Group Inc. RI's holdings in Procter & Gamble were worth $100,795,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PG. Brighton Jones LLC lifted its stake in Procter & Gamble by 51.5% in the fourth quarter. Brighton Jones LLC now owns 40,068 shares of the company's stock worth $6,717,000 after purchasing an additional 13,617 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its stake in Procter & Gamble by 493.6% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 341,750 shares of the company's stock worth $57,294,000 after purchasing an additional 284,174 shares during the last quarter. FIL Ltd lifted its stake in Procter & Gamble by 0.6% in the fourth quarter. FIL Ltd now owns 3,748,011 shares of the company's stock worth $628,354,000 after purchasing an additional 21,015 shares during the last quarter. Shelton Capital Management lifted its stake in Procter & Gamble by 19.2% in the fourth quarter. Shelton Capital Management now owns 106,543 shares of the company's stock worth $17,862,000 after purchasing an additional 17,166 shares during the last quarter. Finally, Sandhill Capital Partners LLC lifted its stake in Procter & Gamble by 0.6% in the fourth quarter. Sandhill Capital Partners LLC now owns 39,367 shares of the company's stock worth $6,600,000 after purchasing an additional 226 shares during the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PG has been the subject of several recent research reports. Redburn Partners set a $161.00 price target on shares of Procter & Gamble in a research note on Thursday, May 1st. Morgan Stanley set a $180.00 price objective on shares of Procter & Gamble and gave the company an "overweight" rating in a research note on Friday, April 25th. Erste Group Bank downgraded shares of Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Redburn Atlantic downgraded shares of Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price objective for the company. in a research note on Thursday, May 1st. Finally, UBS Group set a $180.00 price objective on shares of Procter & Gamble and gave the company a "buy" rating in a research note on Wednesday, July 30th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $175.88.

Procter & Gamble Trading Up 0.0%

PG stock traded up $0.06 during trading on Friday, reaching $153.55. The company had a trading volume of 5,810,954 shares, compared to its average volume of 8,068,523. Procter & Gamble Company has a 52 week low of $149.91 and a 52 week high of $180.43. The company has a market cap of $359.67 billion, a P/E ratio of 23.59, a PEG ratio of 4.05 and a beta of 0.37. The business has a 50 day moving average of $158.26 and a 200 day moving average of $163.68. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.70 and a quick ratio of 0.49.

Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the firm earned $1.40 earnings per share. Procter & Gamble's revenue was up 1.7% on a year-over-year basis. As a group, sell-side analysts forecast that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be issued a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, July 18th. Procter & Gamble's dividend payout ratio is 64.98%.

About Procter & Gamble

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.