Harvest Fund Management Co. Ltd Sells 1,764 Shares of Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Harvest Fund Management Co. Ltd significantly reduced its holdings in Procter & Gamble by 81.0%, selling 1,764 shares and owning only 413 shares valued at $70,000 at the end of the last quarter.
• Procter & Gamble reported earnings per share of $1.48 for the latest quarter, surpassing expectations, with revenues reaching $20.89 billion, an increase of 1.7% year-over-year.
• The company announced a quarterly dividend of $1.0568, which translates to an annualized yield of 2.8%, with a payout ratio of 67.14%.

Harvest Fund Management Co. Ltd cut its position in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 81.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 413 shares of the company's stock after selling 1,764 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Procter & Gamble were worth $70,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Navigoe LLC acquired a new position in Procter & Gamble in the 4th quarter valued at $31,000. Capital A Wealth Management LLC acquired a new position in Procter & Gamble in the 4th quarter valued at $31,000. 10Elms LLP acquired a new position in Procter & Gamble in the 4th quarter valued at $34,000. Sunbeam Capital Management LLC acquired a new position in Procter & Gamble in the 4th quarter valued at $34,000. Finally, Mizuho Securities Co. Ltd. raised its holdings in Procter & Gamble by 566.7% in the 1st 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.

Analyst Upgrades and Downgrades

PG has been the subject of a number of research analyst reports. Morgan Stanley set a $180.00 price target on Procter & Gamble and gave the stock an "overweight" rating in a report on Friday, April 25th. Barclays set a $164.00 price target on Procter & Gamble and gave the stock an "equal weight" rating in a report on Thursday. Piper Sandler boosted their price target on Procter & Gamble from $160.00 to $164.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Evercore ISI reissued an "in-line" rating and set a $170.00 price target (down previously from $190.00) on shares of Procter & Gamble in a report on Monday, July 14th. Finally, Erste Group Bank cut Procter & Gamble from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $175.88.

Insiders Place Their Bets

In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the transaction, the insider directly owned 25,182 shares in the company, valued at approximately $3,995,627.94. This represents a 29.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company's stock.

Procter & Gamble Trading Down 1.7%

Shares of PG stock opened at $150.30 on Friday. The stock has a market cap of $352.38 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 4.27 and a beta of 0.40. The stock has a 50-day moving average of $160.13 and a 200-day moving average of $164.05. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.48. Procter & Gamble Company has a 1-year low of $149.91 and a 1-year high of $180.43.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.06. The company had revenue of $20.89 billion during the quarter, compared to analysts' expectations of $20.79 billion. Procter & Gamble had a return on equity of 32.56% and a net margin of 18.95%. The business's quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.40 earnings per share. On average, equities research analysts forecast that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be issued a $1.0568 dividend. 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 payout ratio is presently 67.14%.

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.

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