Goldman Sachs Group Inc. Buys 583,629 Shares of Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Goldman Sachs Group Inc. increased its stake in Procter & Gamble by 3.5%, holding approximately 17.4 million shares worth nearly $2.97 billion, making it the firm's 28th largest holding.
• Procter & Gamble reported a quarterly earnings per share (EPS) of $1.48, surpassing analysts' expectations, and announced a quarterly dividend of $1.0568 per share, yielding 2.8% annually.
• Several analysts have adjusted their price targets for Procter & Gamble, with current estimates ranging from $161 to $180, and the stock receiving an average rating of "Moderate Buy."

Goldman Sachs Group Inc. raised its stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,405,539 shares of the company's stock after purchasing an additional 583,629 shares during the period. Procter & Gamble accounts for approximately 0.5% of Goldman Sachs Group Inc.'s investment portfolio, making the stock its 28th biggest position. Goldman Sachs Group Inc. owned approximately 0.74% of Procter & Gamble worth $2,966,252,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Navigoe LLC acquired a new position in shares of Procter & Gamble in the fourth quarter valued at about $31,000. Capital A Wealth Management LLC acquired a new position in shares of Procter & Gamble in the fourth quarter valued at about $31,000. 10Elms LLP acquired a new position in shares of Procter & Gamble in the fourth quarter valued at about $34,000. Sunbeam Capital Management LLC acquired a new position in shares of Procter & Gamble in the fourth quarter valued at about $34,000. Finally, Mizuho Securities Co. Ltd. grew its stake in shares of Procter & Gamble by 566.7% in the first quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock valued at $34,000 after acquiring an additional 170 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PG. Redburn Atlantic downgraded shares of Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price target on the stock. in a research note on Thursday, May 1st. UBS Group set a $180.00 price target on shares of Procter & Gamble and gave the company a "buy" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada upgraded shares of Procter & Gamble from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from $164.00 to $177.00 in a research note on Friday, April 25th. Redburn Partners set a $161.00 price objective on shares of Procter & Gamble in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $170.00 price objective (down from $178.00) on shares of Procter & Gamble in a research note on Friday, July 25th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $175.88.

Procter & Gamble Trading Up 0.0%

NYSE PG traded up $0.06 during trading hours on Friday, reaching $153.55. The company's stock had a trading volume of 5,810,954 shares, compared to its average volume of 8,068,523. Procter & Gamble Company has a 52 week low of $149.91 and a 52 week high of $180.43. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.70 and a quick ratio of 0.49. The firm has a fifty day simple moving average of $158.26 and a 200-day simple moving average of $163.68. The stock has a market cap of $359.67 billion, a P/E ratio of 23.59, a P/E/G ratio of 4.05 and a beta of 0.37.

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

Procter & Gamble Dividend Announcement

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

About Procter & Gamble

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.