Cornerstone Capital Inc. Takes Position in Procter & Gamble Company (The) $PG

Key Points

• Cornerstone Capital acquired 172,584 Procter & Gamble shares worth approximately $25.3 million in the second quarter, making PG its 17th-largest holding and about 2.3% of its portfolio. Institutional investors collectively own 65.77% of the company.
• Procter & Gamble reported quarterly EPS of $1.43, exceeding estimates of $1.41, while revenue rose 1.5% year over year to $21.2 billion but came in below expectations.
• The company pays a quarterly dividend of $1.0885 per share, equivalent to an annualized $4.35 and a 3.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $161.52, compared with a share price of $144.47.

Cornerstone Capital Inc. purchased a new stake in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 172,584 shares of the company's stock, valued at approximately $25,308,000. Procter & Gamble makes up approximately 2.3% of Cornerstone Capital Inc.'s portfolio, making the stock its 17th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Cibc World Market Inc. lifted its holdings in shares of Procter & Gamble by 40.6% during the fourth quarter. Cibc World Market Inc. now owns 511,833 shares of the company's stock valued at $73,351,000 after purchasing an additional 147,701 shares during the last quarter. World Investment Advisors increased its stake in Procter & Gamble by 15.9% in the 4th quarter. World Investment Advisors now owns 105,915 shares of the company's stock worth $15,179,000 after purchasing an additional 14,492 shares in the last quarter. Resources Management Corp CT ADV increased its stake in Procter & Gamble by 41.8% in the 4th quarter. Resources Management Corp CT ADV now owns 81,511 shares of the company's stock worth $11,681,000 after purchasing an additional 24,010 shares in the last quarter. Indivisible Partners acquired a new stake in Procter & Gamble during the 4th quarter worth about $2,120,000. Finally, Rokos Capital Management LLP purchased a new stake in Procter & Gamble during the first quarter valued at about $29,914,000. Institutional investors and hedge funds own 65.77% of the company's stock.

Procter & Gamble Stock Performance

Shares of PG opened at $144.47 on Thursday. The company's 50 day moving average price is $147.94 and its 200 day moving average price is $148.78. Procter & Gamble Company has a 52 week low of $137.62 and a 52 week high of $167.25. The company has a market capitalization of $335.82 billion, a PE ratio of 21.82, a PEG ratio of 4.42 and a beta of 0.39. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.47 and a current ratio of 0.68.

Procter & Gamble (NYSE:PG - Get Free Report) last released 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. The company had revenue of $21.20 billion during the quarter, compared to the consensus estimate of $21.38 billion. Procter & Gamble had a net margin of 18.44% and a return on equity of 31.36%. The company's revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.48 EPS. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. Research analysts expect that Procter & Gamble Company will post 6.98 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 24th were issued a dividend of $1.0885 per share. This represents a $4.35 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, July 24th. Procter & Gamble's dividend payout ratio (DPR) is currently 65.71%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley decreased their target price on shares of Procter & Gamble from $175.00 to $166.00 and set an "overweight" rating for the company in a report on Wednesday, April 22nd. Citigroup cut their price target on shares of Procter & Gamble from $181.00 to $170.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Piper Sandler raised their price objective on shares of Procter & Gamble from $142.00 to $145.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Weiss Ratings reiterated a "hold (c)" rating on shares of Procter & Gamble in a research report on Wednesday, June 24th. Finally, Evercore set a $162.00 target price on shares of Procter & Gamble in a research note on Monday, April 27th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $161.52.

Procter & Gamble Profile

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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