DoubleLine ETF Adviser LP Takes $6.86 Million Position in Procter & Gamble Company (The) $PG

Key Points

• DoubleLine ETF Adviser LP initiated a new stake of 44,629 shares of Procter & Gamble (NYSE:PG), worth about $6.86 million, representing ~2.1% of its portfolio and its 7th-largest holding.
• Analyst sentiment is broadly positive with a consensus rating of "Moderate Buy" (14 Buys, 7 Holds) and an average price target of $168.33, including recent upgrades from Jefferies (to Buy, $179) and UBS (to $170).
• Operational and ownership notes: P&G reported $1.88 EPS (beat consensus by $0.02) and pays a $1.0568 quarterly dividend (annual $4.23, ~2.8% yield), while insiders sold roughly 348,618 shares (~$55.5M) in the last 90 days, leaving insiders with 0.20% ownership.

DoubleLine ETF Adviser LP acquired a new position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 44,629 shares of the company's stock, valued at approximately $6,857,000. Procter & Gamble comprises approximately 2.1% of DoubleLine ETF Adviser LP's portfolio, making the stock its 7th biggest holding.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Procter & Gamble in the 3rd quarter worth approximately $25,000. Corundum Trust Company INC acquired a new stake in shares of Procter & Gamble during the third quarter worth $32,000. Caitlin John LLC bought a new position in Procter & Gamble during the third quarter worth $34,000. Marquette Asset Management LLC bought a new position in Procter & Gamble during the third quarter worth $37,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Procter & Gamble in the third quarter valued at $40,000. Institutional investors and hedge funds own 65.77% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on PG. Barclays set a $155.00 price target on Procter & Gamble in a report on Friday, January 16th. UBS Group upped their target price on Procter & Gamble from $161.00 to $170.00 and gave the company a "buy" rating in a research report on Friday, January 23rd. Jefferies Financial Group upgraded Procter & Gamble from a "hold" rating to a "buy" rating and lifted their target price for the stock from $156.00 to $179.00 in a report on Tuesday, December 16th. BNP Paribas Exane dropped their price target on Procter & Gamble from $172.00 to $164.00 and set an "outperform" rating on the stock in a research note on Friday, January 16th. Finally, TD Cowen downgraded shares of Procter & Gamble from a "buy" rating to a "hold" rating and raised their price objective for the stock from $150.00 to $156.00 in a research report on Tuesday, January 27th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $168.33.

Procter & Gamble Stock Performance

Shares of PG opened at $150.57 on Monday. The stock has a 50-day moving average of $153.32 and a 200-day moving average of $150.96. Procter & Gamble Company has a one year low of $137.62 and a one year high of $174.80. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.72 and a quick ratio of 0.51. The company has a market cap of $349.91 billion, a PE ratio of 22.31, a P/E/G ratio of 5.04 and a beta of 0.37.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly earnings results on Friday, January 23rd. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.02. The business had revenue of $22.21 billion for the quarter, compared to analyst estimates of $22.36 billion. Procter & Gamble had a return on equity of 32.21% and a net margin of 19.30%.The company's quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.88 earnings per share. On average, equities research analysts predict that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Friday, January 23rd were given a $1.0568 dividend. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $4.23 annualized dividend and a yield of 2.8%. Procter & Gamble's dividend payout ratio (DPR) is presently 62.67%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, Chairman Jon R. Moeller sold 162,232 shares of the company's stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $162.45, for a total transaction of $26,354,588.40. Following the transaction, the chairman owned 319,385 shares in the company, valued at approximately $51,884,093.25. This represents a 33.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Moses Victor Javier Aguilar sold 15,169 shares of Procter & Gamble stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $162.28, for a total transaction of $2,461,625.32. Following the transaction, the insider owned 44,735 shares of the company's stock, valued at $7,259,595.80. This represents a 25.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 348,618 shares of company stock worth $55,462,643 in the last ninety days. 0.20% of the stock is currently owned by corporate insiders.

Procter & Gamble Company 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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