Hamlin Capital Management LLC Boosts Holdings in Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Hamlin Capital Management LLC increased its stake in Procter & Gamble by 8.7%, owning 1,070,973 shares valued at $182.5 million, making it the fund's 9th largest holding.
• Procter & Gamble reported earnings of $1.48 per share, beating the consensus estimate of $1.42, along with a revenue of $20.89 billion, a 1.7% increase compared to the previous year.
• The company announced a quarterly dividend of $1.0568 per share, set to be paid on August 15, representing an annual yield of 2.7% and a payout ratio of 64.98%.

Hamlin Capital Management LLC increased its stake in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 8.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,070,973 shares of the company's stock after purchasing an additional 86,019 shares during the period. Procter & Gamble makes up 4.4% of Hamlin Capital Management LLC's investment portfolio, making the stock its 9th largest holding. Hamlin Capital Management LLC's holdings in Procter & Gamble were worth $182,515,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PG. Northern Trust Corp grew its stake in shares of Procter & Gamble by 10.1% during the 4th quarter. Northern Trust Corp now owns 29,395,208 shares of the company's stock valued at $4,928,107,000 after acquiring an additional 2,703,757 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Procter & Gamble by 3.5% during the first quarter. Goldman Sachs Group Inc. now owns 17,405,539 shares of the company's stock valued at $2,966,252,000 after purchasing an additional 583,629 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Procter & Gamble by 1.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 17,090,898 shares of the company's stock worth $2,911,989,000 after purchasing an additional 208,991 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Procter & Gamble by 15.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,274,563 shares of the company's stock valued at $2,728,430,000 after purchasing an additional 2,224,912 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Procter & Gamble by 19.8% during the 1st quarter. Invesco Ltd. now owns 13,493,604 shares of the company's stock valued at $2,299,580,000 after buying an additional 2,228,151 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company's stock.

Procter & Gamble Trading Up 0.2%

PG opened at $155.37 on Thursday. Procter & Gamble Company has a one year low of $149.91 and a one year high of $180.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.49 and a current ratio of 0.70. The stock has a market cap of $363.93 billion, a price-to-earnings ratio of 23.87, a P/E/G ratio of 4.09 and a beta of 0.37. The stock's 50 day moving average price is $157.56 and its 200-day moving average price is $163.48.

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

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be paid a $1.0568 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $4.23 dividend on an annualized basis and a yield of 2.7%. Procter & Gamble's dividend payout ratio is 64.98%.

Analyst Ratings Changes

A number of research firms have commented on PG. UBS Group set a $180.00 price target on Procter & Gamble and gave the company a "buy" rating in a report on Wednesday, July 30th. Raymond James Financial decreased their target price on Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Bank of America cut their price objective on shares of Procter & Gamble from $190.00 to $180.00 and set a "buy" rating for the company in a report on Friday, April 25th. Morgan Stanley set a $180.00 target price on shares of Procter & Gamble and gave the stock an "overweight" rating in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $170.00 price target (down previously from $178.00) on shares of Procter & Gamble in a research note on Friday, July 25th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Procter & Gamble presently has an average rating of "Moderate Buy" and a consensus price target of $175.88.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.