Corundum Group Inc. Decreases Stake in Procter & Gamble Company (The) (NYSE:PG)

Corundum Group Inc. lessened its stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 47.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,511 shares of the company's stock after selling 5,065 shares during the quarter. Corundum Group Inc.'s holdings in Procter & Gamble were worth $939,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Cladis Investment Advisory LLC raised its position in shares of Procter & Gamble by 5.2% during the 4th quarter. Cladis Investment Advisory LLC now owns 4,807 shares of the company's stock valued at $806,000 after buying an additional 236 shares during the period. FAS Wealth Partners Inc. raised its position in Procter & Gamble by 2.0% in the fourth quarter. FAS Wealth Partners Inc. now owns 27,690 shares of the company's stock valued at $4,642,000 after purchasing an additional 549 shares during the period. Berkshire Asset Management LLC PA lifted its stake in shares of Procter & Gamble by 0.9% in the 4th quarter. Berkshire Asset Management LLC PA now owns 236,616 shares of the company's stock valued at $38,833,000 after purchasing an additional 2,179 shares during the last quarter. Natural Investments LLC purchased a new position in shares of Procter & Gamble during the 4th quarter worth $2,121,000. Finally, Yoffe Investment Management LLC acquired a new stake in shares of Procter & Gamble during the 4th quarter worth about $1,874,000. Hedge funds and other institutional investors own 65.77% of the company's stock.

Procter & Gamble Stock Down 0.2%

NYSE PG traded down $0.25 during trading on Thursday, reaching $158.73. 7,403,171 shares of the company's stock were exchanged, compared to its average volume of 7,374,929. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.71. Procter & Gamble Company has a 1 year low of $156.58 and a 1 year high of $180.43. The stock has a market cap of $372.14 billion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 4.73 and a beta of 0.43. The company has a 50 day moving average price of $162.88 and a two-hundred day moving average price of $165.83.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.53 by $0.01. The firm had revenue of $19.78 billion during the quarter, compared to analysts' expectations of $20.42 billion. Procter & Gamble had a net margin of 18.46% and a return on equity of 32.67%. Procter & Gamble's quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.52 earnings per share. On average, equities research analysts anticipate that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, April 21st were paid a dividend of $1.0568 per share. This represents a $4.23 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Monday, April 21st. This is an increase from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's dividend payout ratio (DPR) is currently 66.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Morgan Stanley set a $180.00 target price on shares of Procter & Gamble and gave the company an "overweight" rating in a research report on Friday, April 25th. Raymond James Financial lowered their price objective on shares of Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Barclays reiterated an "equal weight" rating on shares of Procter & Gamble in a report on Thursday, March 27th. Truist Financial decreased their price target on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. dropped their price objective on Procter & Gamble from $181.00 to $172.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $178.45.

Insiders Place Their Bets

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total value of $161,380.00. Following the transaction, the chief executive officer now directly owns 51,965 shares in the company, valued at approximately $8,386,111.70. This trade represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $158.67, for a total value of $1,669,208.40. Following the sale, the insider now directly owns 25,182 shares of the company's stock, valued at approximately $3,995,627.94. This represents a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

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.