Cresset Asset Management LLC Lowers Stock Holdings in Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Cresset Asset Management LLC has reduced its stake in Procter & Gamble by 4.2%, now holding 200,991 shares, with a total value of approximately $34 million.
• Analysts have mixed views on Procter & Gamble, with price targets ranging from $170 to $185, and a consensus rating of "Moderate Buy."
• The company reported $20.89 billion in revenue for the last quarter, surpassing analysts' expectations, alongside a quarterly dividend of $1.0568 per share.

Cresset Asset Management LLC reduced its position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 200,991 shares of the company's stock after selling 8,856 shares during the period. Cresset Asset Management LLC's holdings in Procter & Gamble were worth $34,253,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Cladis Investment Advisory LLC boosted its holdings in Procter & Gamble by 5.2% in the fourth quarter. Cladis Investment Advisory LLC now owns 4,807 shares of the company's stock valued at $806,000 after purchasing an additional 236 shares during the period. FAS Wealth Partners Inc. boosted its holdings 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. Benjamin Edwards Inc. boosted its holdings in Procter & Gamble by 120.7% in the first quarter. Benjamin Edwards Inc. now owns 364,378 shares of the company's stock valued at $62,098,000 after purchasing an additional 199,258 shares during the period. Capital Investment Advisory Services LLC lifted its holdings in Procter & Gamble by 13.8% during the 1st quarter. Capital Investment Advisory Services LLC now owns 37,709 shares of the company's stock worth $6,426,000 after buying an additional 4,562 shares during the last quarter. Finally, World Investment Advisors lifted its holdings in Procter & Gamble by 6.0% during the 1st quarter. World Investment Advisors now owns 50,913 shares of the company's stock worth $8,677,000 after buying an additional 2,886 shares during the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PG shares. Truist Financial decreased their price target on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating for the company in a report on Friday, April 25th. UBS Group set a $180.00 price target on Procter & Gamble and gave the stock a "buy" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $170.00 price target (down from $178.00) on shares of Procter & Gamble in a report on Friday, July 25th. Erste Group Bank downgraded Procter & Gamble from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Finally, Citigroup decreased their price target on Procter & Gamble from $200.00 to $181.00 and set a "buy" rating for the company in a report on Friday, April 25th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Procter & Gamble has a consensus rating of "Moderate Buy" and a consensus price target of $175.94.

Procter & Gamble Stock Up 0.4%

Procter & Gamble stock opened at $154.30 on Friday. Procter & Gamble Company has a fifty-two week low of $149.91 and a fifty-two week high of $180.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.49 and a current ratio of 0.70. The company has a market capitalization of $361.43 billion, a P/E ratio of 23.70, a PEG ratio of 4.06 and a beta of 0.37. The stock has a 50-day simple moving average of $157.19 and a 200-day simple moving average of $163.29.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.06. The firm had revenue of $20.89 billion for 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 for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.40 EPS. Equities research analysts expect that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 18th were given a $1.0568 dividend. This represents a $4.23 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, July 18th. Procter & Gamble's 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.

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