Connor Clark & Lunn Investment Management Ltd. Raises Stake in Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in Procter & Gamble by 122.0% in Q1, bringing its total investment to approximately $32.88 million.
• Procter & Gamble reported quarterly earnings of $1.48 EPS, exceeding analysts' expectations of $1.42, and a revenue of $20.89 billion, marking a 1.7% year-over-year increase.
• The company declared a quarterly dividend of $1.0568 per share, with an annual yield of 2.8%, set to be paid on August 15th.

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 122.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 192,923 shares of the company's stock after acquiring an additional 106,008 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Procter & Gamble were worth $32,878,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Zions Bancorporation National Association UT purchased a new stake in shares of Procter & Gamble during the 1st quarter worth $1,730,000. Townsquare Capital LLC boosted its position in shares of Procter & Gamble by 8.1% during the 1st quarter. Townsquare Capital LLC now owns 143,361 shares of the company's stock worth $24,432,000 after purchasing an additional 10,699 shares in the last quarter. Morton Community Bank boosted its position in shares of Procter & Gamble by 1.8% during the 1st quarter. Morton Community Bank now owns 20,856 shares of the company's stock worth $3,554,000 after purchasing an additional 360 shares in the last quarter. Founders Financial Alliance LLC boosted its position in shares of Procter & Gamble by 11.6% during the 1st quarter. Founders Financial Alliance LLC now owns 12,394 shares of the company's stock worth $2,112,000 after purchasing an additional 1,293 shares in the last quarter. Finally, Truepoint Inc. boosted its position in shares of Procter & Gamble by 0.8% during the 1st quarter. Truepoint Inc. now owns 115,263 shares of the company's stock worth $19,643,000 after purchasing an additional 880 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Procter & Gamble Trading Up 1.0%

PG traded up $1.52 during midday trading on Monday, hitting $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 company has a current ratio of 0.70, a quick ratio of 0.49 and a debt-to-equity ratio of 0.49. The firm has a market cap of $363.13 billion, a P/E ratio of 23.81, a PEG ratio of 4.05 and a beta of 0.37. The firm has a 50-day moving average price of $158.01 and a two-hundred day moving average price of $163.60. Procter & Gamble Company has a 52-week low of $149.91 and a 52-week 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 EPS for the quarter, beating the consensus estimate of $1.42 by $0.06. The company had revenue of $20.89 billion during the quarter, compared to analysts' expectations of $20.79 billion. Procter & Gamble had a return on equity of 32.69% and a net margin of 18.95%. The firm's revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.40 EPS. On average, research analysts anticipate that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Announces Dividend

The firm also recently declared 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. The ex-dividend date is Friday, July 18th. This represents a $4.23 annualized dividend and a yield of 2.7%. Procter & Gamble's payout ratio is 64.98%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PG shares. Wells Fargo & Company cut their price target on Procter & Gamble from $175.00 to $173.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Redburn Atlantic downgraded Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price target for the company. in a research note on Thursday, May 1st. Barclays set a $164.00 price target on Procter & Gamble and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Truist Financial cut their price target on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Piper Sandler lifted their price target on Procter & Gamble from $160.00 to $164.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $175.88.

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.