Jericho Financial LLP increased its position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 14.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,864 shares of the company's stock after buying an additional 3,241 shares during the quarter. Procter & Gamble comprises 3.2% of Jericho Financial LLP's investment portfolio, making the stock its 16th biggest holding. Jericho Financial LLP's holdings in Procter & Gamble were worth $4,408,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Procter & Gamble by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 229,794,073 shares of the company's stock valued at $38,524,976,000 after purchasing an additional 1,592,061 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Procter & Gamble by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 56,472,195 shares of the company's stock valued at $9,457,000,000 after purchasing an additional 1,267,419 shares during the last quarter. Norges Bank purchased a new position in shares of Procter & Gamble in the 4th quarter valued at approximately $5,244,463,000. Northern Trust Corp grew its stake in shares of Procter & Gamble by 10.1% in the 4th quarter. Northern Trust Corp now owns 29,395,208 shares of the company's stock valued at $4,928,107,000 after purchasing an additional 2,703,757 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Procter & Gamble by 6.4% in the 4th quarter. Franklin Resources Inc. now owns 20,197,996 shares of the company's stock valued at $3,386,194,000 after purchasing an additional 1,209,275 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on PG. Morgan Stanley set a $180.00 target price on Procter & Gamble and gave the company an "overweight" rating in a research note on Friday, April 25th. Bank of America reduced their price target on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating for the company in a report on Friday, April 25th. Redburn Partners set a $161.00 price target on Procter & Gamble in a report on Thursday, May 1st. Piper Sandler raised their price target on Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Finally, Truist Financial reduced their price target on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating for the company in a report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $178.86.
Check Out Our Latest Research Report on Procter & Gamble
Procter & Gamble Stock Performance
Shares of PG stock opened at $158.93 on Monday. The stock has a fifty day moving average price of $163.35 and a 200 day moving average price of $166.00. The stock has a market cap of $372.62 billion, a PE ratio of 25.23, a P/E/G ratio of 4.69 and a beta of 0.43. Procter & Gamble Company has a 1 year low of $156.58 and a 1 year high of $180.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.71.
Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.01. The company had revenue of $19.78 billion during the quarter, compared to the consensus estimate of $20.42 billion. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. Procter & Gamble's revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.52 earnings per share. Sell-side analysts forecast that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.
Procter & Gamble Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were given a dividend of $1.0568 per share. This is an increase from Procter & Gamble's previous quarterly dividend of $1.01. The ex-dividend date was Monday, April 21st. This represents a $4.23 annualized dividend and a yield of 2.66%. Procter & Gamble's dividend payout ratio (DPR) is presently 67.14%.
Insiders Place Their Bets
In other news, CEO Jennifer L. Davis sold 1,000 shares of Procter & Gamble stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total value of $161,380.00. Following the completion of the sale, the chief executive officer now owns 51,965 shares of the company's stock, valued at $8,386,111.70. The trade was a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of Procter & Gamble stock in a transaction 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 completion of the sale, the insider now directly owns 25,182 shares of the company's stock, valued at approximately $3,995,627.94. This represents a 29.47% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.
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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