Family Legacy Inc. Purchases New Stake in Procter & Gamble Company (The) $PG

Key Points

• Family Legacy Inc. bought 28,296 Procter & Gamble shares in the second quarter, valued at approximately $4.15 million. Institutional investors and hedge funds collectively own 65.77% of PG.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $161.52, despite some recent target-price reductions.
• 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 paid a quarterly dividend of $1.0885, representing a 3.0% annualized yield.

Family Legacy Inc. purchased a new stake in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 28,296 shares of the company's stock, valued at approximately $4,149,000.

Several other institutional investors have also recently bought and sold shares of the business. Clearstead Trust LLC bought a new position in shares of Procter & Gamble in the second quarter valued at $1,780,000. Maridea Wealth Management LLC bought a new stake in shares of Procter & Gamble during the second quarter worth about $407,000. Bridgewater Advisors Inc. bought a new stake in shares of Procter & Gamble during the second quarter worth about $3,363,000. SFE Investment Counsel acquired a new stake in shares of Procter & Gamble in the 2nd quarter worth about $338,000. Finally, BIP Wealth LLC acquired a new stake in shares of Procter & Gamble in the 2nd quarter worth about $3,615,000. Institutional investors and hedge funds own 65.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Morgan Stanley cut their price target on Procter & Gamble from $175.00 to $166.00 and set an "overweight" rating for the company in a research note on Wednesday, April 22nd. BMO Capital Markets increased their price objective on Procter & Gamble from $169.00 to $170.00 and gave the stock an "outperform" rating in a research note on Monday, June 29th. Rothschild & Co Redburn dropped their target price on Procter & Gamble from $157.00 to $155.00 and set a "neutral" rating on the stock in a report on Monday, April 27th. Bank of America cut their target price on Procter & Gamble from $170.00 to $166.00 and set a "buy" rating on the stock in a research report on Friday, July 10th. Finally, Piper Sandler increased their price target on Procter & Gamble from $142.00 to $145.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $161.52.

Procter & Gamble Stock Up 0.7%

Procter & Gamble stock opened at $144.47 on Thursday. The firm has a 50 day moving average price of $147.94 and a 200-day moving average price of $148.78. The company has a quick ratio of 0.47, a current ratio of 0.68 and a debt-to-equity ratio of 0.43. Procter & Gamble Company has a twelve month low of $137.62 and a twelve month high of $167.25. The company has a market capitalization of $335.82 billion, a P/E ratio of 21.82, a P/E/G ratio of 4.42 and a beta of 0.39.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.02. Procter & Gamble had a net margin of 18.44% and a return on equity of 31.36%. The company had revenue of $21.20 billion for the quarter, compared to analysts' expectations of $21.38 billion. During the same quarter in the previous year, the firm posted $1.48 EPS. Procter & Gamble's revenue was up 1.5% on a year-over-year basis. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. As a group, equities analysts predict that Procter & Gamble Company will post 6.98 EPS for the current year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, July 24th were paid a $1.0885 dividend. The ex-dividend date was Friday, July 24th. This represents a $4.35 annualized dividend and a dividend yield of 3.0%. Procter & Gamble's payout ratio is presently 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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