Coastal Bridge Advisors LLC purchased a new position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,080 shares of the company's stock, valued at approximately $3,531,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. bought a new position in Procter & Gamble during the 2nd quarter valued at $27,862,105,000. Norges Bank bought a new stake in shares of Procter & Gamble in the 4th quarter worth about $4,664,783,000. Bank of America Corp DE bought a new stake in shares of Procter & Gamble in the 2nd quarter worth about $3,850,628,000. Bank of New York Mellon Corp acquired a new stake in shares of Procter & Gamble in the 2nd quarter valued at about $2,281,505,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Procter & Gamble during the second quarter worth about $1,480,650,000. Institutional investors own 65.77% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on PG. Barclays lifted their price target on Procter & Gamble from $146.00 to $152.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 21st. Bank of America reduced their target price on Procter & Gamble from $170.00 to $166.00 and set a "buy" rating on the stock in a report on Friday, July 10th. HSBC reiterated a "hold" rating and issued a $149.00 target price (down from $182.00) on shares of Procter & Gamble in a research report on Thursday, July 30th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $149.00 price target on shares of Procter & Gamble in a report on Monday, August 24th. Finally, JPMorgan Chase & Co. dropped their price target on Procter & Gamble from $164.00 to $162.00 and set an "overweight" rating on the stock in a research report on Thursday, July 16th. Thirteen research 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, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $161.19.
View Our Latest Stock Report on PG
Insider Buying and Selling
In related news, CAO Matthew W. Janzaruk sold 359 shares of the business's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $145.24, for a total transaction of $52,141.16. Following the completion of the transaction, the chief accounting officer owned 1,271 shares in the company, valued at $184,600.04. The trade was a 22.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Marc S. Pritchard sold 4,030 shares of the company'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 $579,473.70. Following the transaction, the insider 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 6,627 shares of company stock valued at $953,417. Insiders own 0.20% of the company's stock.
Procter & Gamble Price Performance
Shares of NYSE:PG opened at $143.71 on Friday. The company has a market cap of $334.04 billion, a PE ratio of 21.71, a P/E/G ratio of 4.43 and a beta of 0.39. Procter & Gamble Company has a fifty-two week low of $137.62 and a fifty-two week high of $167.25. The firm has a 50-day simple moving average of $147.11 and a 200 day simple moving average of $148.28. The company has a quick ratio of 0.47, a current ratio of 0.68 and a debt-to-equity ratio of 0.43.
Procter & Gamble (NYSE:PG - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $1.43 earnings per share (EPS) for the quarter, topping 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 quarter last year, the company posted $1.48 earnings per share. Procter & Gamble'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. On average, sell-side analysts anticipate that Procter & Gamble Company will post 6.98 EPS for the current year.
Procter & Gamble Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 24th were issued a $1.0885 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $4.35 annualized dividend and a dividend yield of 3.0%. Procter & Gamble's dividend payout ratio (DPR) is 65.71%.
About Procter & Gamble
(
Free Report)
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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