Glenview Trust Co Purchases Shares of 362,346 Procter & Gamble Company (The) $PG

Key Points

• Glenview Trust Co. purchased 362,346 Procter & Gamble shares in the second quarter, valued at approximately $53.1 million. Institutional investors collectively own 65.77% of PG.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $161.19, despite mixed revisions ranging from $149 to $179.
• Procter & Gamble slightly beat quarterly EPS expectations with $1.43 versus $1.41 forecast, while revenue rose 1.5% year over year to $21.2 billion. The company also offers a $4.35 annualized dividend, yielding about 3.0%.

Glenview Trust Co purchased a new position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 362,346 shares of the company's stock, valued at approximately $53,134,000.

Several other hedge funds have also recently made changes to their positions in PG. Carson Advisory Inc. grew its position in shares of Procter & Gamble by 0.5% during the 4th quarter. Carson Advisory Inc. now owns 12,124 shares of the company's stock worth $1,738,000 after buying an additional 65 shares during the period. Cary Street Partners Investment Advisory LLC grew its holdings in Procter & Gamble by 1.8% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 3,829 shares of the company's stock worth $549,000 after purchasing an additional 67 shares during the period. Cowa LLC increased its stake in Procter & Gamble by 2.4% in the fourth quarter. Cowa LLC now owns 2,985 shares of the company's stock valued at $428,000 after purchasing an additional 70 shares in the last quarter. KLCM Advisors Inc. increased its stake in Procter & Gamble by 0.9% in the first quarter. KLCM Advisors Inc. now owns 7,890 shares of the company's stock valued at $1,140,000 after purchasing an additional 70 shares in the last quarter. Finally, Park Square Financial Group LLC raised its holdings in shares of Procter & Gamble by 65.1% during the fourth quarter. Park Square Financial Group LLC now owns 180 shares of the company's stock valued at $26,000 after purchasing an additional 71 shares during the period. 65.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PG has been the subject of several research reports. Barclays raised their target price on Procter & Gamble from $146.00 to $152.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 21st. Bank of America cut their price target on Procter & Gamble from $170.00 to $166.00 and set a "buy" rating on the stock in a report on Friday, July 10th. BMO Capital Markets raised their price objective on Procter & Gamble from $169.00 to $170.00 and gave the company an "outperform" rating in a research note on Monday, June 29th. HSBC restated a "hold" rating and set a $149.00 price objective (down from $182.00) on shares of Procter & Gamble in a report on Thursday, July 30th. Finally, Jefferies Financial Group upped their target price on Procter & Gamble from $177.00 to $179.00 and gave the stock a "buy" rating in a research report on Friday, June 26th. Thirteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $161.19.

Procter & Gamble Stock Down 0.0%

Shares of NYSE:PG opened at $143.71 on Monday. The stock has a market cap of $334.04 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 4.43 and a beta of 0.39. 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 12-month low of $137.62 and a 12-month high of $167.25. The business's 50 day moving average is $147.11 and its 200 day moving average is $148.21.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.02. Procter & Gamble had a return on equity of 31.36% and a net margin of 18.44%.The business had revenue of $21.20 billion during the quarter, compared to the consensus estimate of $21.38 billion. During the same quarter in the prior year, the company posted $1.48 earnings per share. Procter & Gamble's revenue was up 1.5% compared to the same quarter last year. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. On average, sell-side analysts forecast that Procter & Gamble Company will post 6.98 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders 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 dividend payout ratio is presently 65.71%.

Insider Activity

In other Procter & Gamble news, insider Susan Street Whaley sold 2,238 shares of the company's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $143.79, for a total value of $321,802.02. Following the completion of the sale, the insider directly owned 26,989 shares of the company's stock, valued at approximately $3,880,748.31. This represents a 7.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Marc S. Pritchard sold 4,030 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $143.79, for a total transaction of $579,473.70. Following the completion of the sale, the insider owned 187,001 shares of the company's stock, valued at approximately $26,888,873.79. This trade represents a 2.11% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 6,627 shares of company stock worth $953,417 over the last quarter. Insiders own 0.20% of the company's stock.

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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