Fortitude Family Office LLC lowered its stake in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 51.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,687 shares of the company's stock after selling 2,799 shares during the quarter. Fortitude Family Office LLC's holdings in Procter & Gamble were worth $458,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in PG. Norges Bank bought a new stake in Procter & Gamble during the 4th quarter worth about $5,244,463,000. GAMMA Investing LLC grew its holdings in Procter & Gamble by 20,758.5% during the 1st quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company's stock worth $1,355,087,000 after acquiring an additional 7,913,335 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Procter & Gamble during the 4th quarter valued at about $1,010,685,000. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Procter & Gamble by 1,195.1% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company's stock valued at $580,596,000 after purchasing an additional 2,973,757 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Procter & Gamble by 62.5% in the 4th quarter. Capital Research Global Investors now owns 7,398,120 shares of the company's stock valued at $1,240,294,000 after purchasing an additional 2,846,560 shares during the last quarter. Institutional investors own 65.77% of the company's stock.
Procter & Gamble Stock Down 1.9%
PG stock traded down $3.12 during mid-day trading on Friday, hitting $160.06. 7,093,816 shares of the company were exchanged, compared to its average volume of 7,367,226. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The firm has a market cap of $375.27 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.76 and a beta of 0.43. The firm's 50 day simple moving average is $163.75 and its 200 day simple moving average is $166.82. The Procter & Gamble Company has a 1-year low of $156.58 and a 1-year high of $180.43.
Procter & Gamble (NYSE:PG - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.53 by $0.01. The firm had revenue of $19.78 billion for the quarter, compared to the consensus estimate of $20.42 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business's quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the company posted $1.52 EPS. On average, sell-side analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.
Procter & Gamble Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were issued a dividend of $1.0568 per share. This is an increase from Procter & Gamble's previous quarterly dividend of $1.01. This represents a $4.23 annualized dividend and a yield of 2.64%. The ex-dividend date was Monday, April 21st. Procter & Gamble's dividend payout ratio (DPR) is 66.98%.
Insiders Place Their Bets
In other news, insider Moses Victor Javier Aguilar sold 10,520 shares of Procter & Gamble stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $158.67, for a total value of $1,669,208.40. Following the sale, the insider now directly owns 25,182 shares in the company, valued at $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer L. Davis sold 1,000 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total transaction of $161,380.00. Following the completion of the sale, the chief executive officer now owns 51,965 shares in the company, valued at $8,386,111.70. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on PG. Raymond James reduced their target price on shares of Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Redburn Atlantic lowered shares of Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 target price on the stock. in a research note on Thursday, May 1st. Barclays reaffirmed an "equal weight" rating on shares of Procter & Gamble in a research note on Thursday, March 27th. Evercore ISI reaffirmed an "outperform" rating and issued a $190.00 target price (up previously from $170.00) on shares of Procter & Gamble in a research note on Tuesday, June 3rd. Finally, Erste Group Bank lowered shares of Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Eight analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $178.86.
Read Our Latest Stock Analysis on Procter & Gamble
About Procter & Gamble
(
Free Report)
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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