Everett Harris & Co. CA Makes New Investment in Procter & Gamble Company (The) $PG

Key Points

• Everett Harris & Co. CA purchased 55,164 shares of Procter & Gamble in the second quarter, valued at approximately $8.1 million. Institutional investors collectively own 65.77% of PG’s outstanding stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $161.52, despite some recent target reductions and a downgrade to “hold.”
• Procter & Gamble reported quarterly EPS of $1.43, beating estimates, while revenue rose 1.5% year over year to $21.20 billion. The company also pays a quarterly dividend of $1.0885 per share, representing an annualized yield of about 3.0%.

Everett Harris & Co. CA purchased a new stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 55,164 shares of the company's stock, valued at approximately $8,089,000.

Other hedge funds have also modified their holdings of the company. Carson Advisory Inc. lifted its stake in Procter & Gamble by 0.5% in the 4th quarter. Carson Advisory Inc. now owns 12,124 shares of the company's stock valued at $1,738,000 after buying an additional 65 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its position in Procter & Gamble by 1.8% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 3,829 shares of the company's stock worth $549,000 after buying an additional 67 shares in the last quarter. Grant Street Asset Management Inc. increased its position in Procter & Gamble by 2.7% during the fourth quarter. Grant Street Asset Management Inc. now owns 2,627 shares of the company's stock worth $376,000 after buying an additional 69 shares in the last quarter. Cowa LLC raised its holdings in shares of Procter & Gamble by 2.4% in the fourth quarter. Cowa LLC now owns 2,985 shares of the company's stock worth $428,000 after acquiring an additional 70 shares during the last quarter. Finally, KLCM Advisors Inc. raised its holdings in shares of Procter & Gamble by 0.9% in the first quarter. KLCM Advisors Inc. now owns 7,890 shares of the company's stock worth $1,140,000 after acquiring an additional 70 shares during the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PG. Jefferies Financial Group increased their price objective on Procter & Gamble from $177.00 to $179.00 and gave the company a "buy" rating in a research note on Friday, June 26th. Barclays boosted their target price on shares of Procter & Gamble from $146.00 to $152.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 21st. Morgan Stanley decreased their price target on shares of Procter & Gamble from $175.00 to $166.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 22nd. Argus downgraded shares of Procter & Gamble from a "buy" rating to a "hold" rating in a report on Friday, August 7th. Finally, HSBC reissued a "hold" rating and issued a $149.00 price objective (down from $182.00) on shares of Procter & Gamble in a research report on Thursday, July 30th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, Procter & Gamble currently has a consensus rating of "Moderate Buy" and an average target price of $161.52.

Procter & Gamble Stock Performance

Procter & Gamble stock opened at $144.47 on Thursday. The stock has a fifty day moving average price of $147.94 and a 200 day moving average price of $148.78. Procter & Gamble Company has a 52 week low of $137.62 and a 52 week high of $167.25. The firm has a market capitalization of $335.82 billion, a P/E ratio of 21.82, a PEG ratio of 4.42 and a beta of 0.39. The company has a current ratio of 0.68, a quick ratio of 0.47 and a debt-to-equity ratio of 0.43.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.43 EPS for the quarter, beating 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 quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.48 EPS. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. Equities research analysts anticipate that Procter & Gamble Company will post 6.98 earnings per share for the current year.

Procter & Gamble Dividend Announcement

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

About Procter & Gamble

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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