Fayez Sarofim & Co Trims Position in Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Fayez Sarofim & Co reduced its stake in Procter & Gamble by 2.4% in Q1, owning 4,791,586 shares after selling 116,256 shares during the quarter.
• Procter & Gamble's stock currently has an average target price of $175.88 and a rating of "Moderate Buy" from analysts.
• The company declared a quarterly dividend of $1.0568, providing an annual yield of 2.8%, set to be paid on August 15th.

Fayez Sarofim & Co cut its holdings in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,791,586 shares of the company's stock after selling 116,256 shares during the period. Procter & Gamble accounts for 2.0% of Fayez Sarofim & Co's portfolio, making the stock its 14th biggest position. Fayez Sarofim & Co owned approximately 0.20% of Procter & Gamble worth $819,330,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Navigoe LLC bought a new stake in shares of Procter & Gamble during the fourth quarter valued at approximately $31,000. Capital A Wealth Management LLC bought a new stake in shares of Procter & Gamble during the fourth quarter valued at approximately $31,000. 10Elms LLP bought a new stake in shares of Procter & Gamble during the fourth quarter valued at approximately $34,000. Sunbeam Capital Management LLC bought a new stake in shares of Procter & Gamble during the fourth quarter valued at approximately $34,000. Finally, Mizuho Securities Co. Ltd. boosted its position in shares of Procter & Gamble by 566.7% during the first quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock valued at $34,000 after purchasing an additional 170 shares in the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Morgan Stanley set a $180.00 price target on Procter & Gamble and gave the company an "overweight" rating in a research report on Friday, April 25th. Piper Sandler boosted their target price on Procter & Gamble from $160.00 to $164.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $170.00 target price (down from $178.00) on shares of Procter & Gamble in a report on Friday, July 25th. Evercore ISI reissued an "in-line" rating and issued a $170.00 target price (down from $190.00) on shares of Procter & Gamble in a report on Monday, July 14th. Finally, Redburn Partners set a $161.00 target price on Procter & Gamble in a report on Thursday, May 1st. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $175.88.

Procter & Gamble Stock Performance

Shares of NYSE:PG traded up $0.06 during midday trading on Friday, reaching $153.55. 5,810,954 shares of the company's stock traded hands, compared to its average volume of 8,068,523. The company has a market cap of $359.67 billion, a price-to-earnings ratio of 23.59, a P/E/G ratio of 4.05 and a beta of 0.37. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.49 and a current ratio of 0.70. Procter & Gamble Company has a one year low of $149.91 and a one year high of $180.43. The stock has a 50 day moving average of $158.26 and a 200 day moving average of $163.68.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.06. The firm had revenue of $20.89 billion for the quarter, compared to the consensus estimate of $20.79 billion. Procter & Gamble had a return on equity of 32.69% and a net margin of 18.95%. The company's quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.40 earnings per share. As a group, equities research analysts anticipate that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be given a dividend of $1.0568 per share. This represents a $4.23 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, July 18th. Procter & Gamble's dividend payout ratio is 64.98%.

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.