Joseph Group Capital Management raised its position in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 11.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,095 shares of the company's stock after purchasing an additional 2,994 shares during the quarter. Procter & Gamble accounts for approximately 1.9% of Joseph Group Capital Management's holdings, making the stock its 14th biggest holding. Joseph Group Capital Management's holdings in Procter & Gamble were worth $4,958,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PG. Brighton Jones LLC increased its position in shares of Procter & Gamble by 51.5% during the fourth quarter. Brighton Jones LLC now owns 40,068 shares of the company's stock worth $6,717,000 after acquiring an additional 13,617 shares during the period. Bank Pictet & Cie Europe AG increased its position in shares of Procter & Gamble by 493.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 341,750 shares of the company's stock worth $57,294,000 after acquiring an additional 284,174 shares during the period. Proficio Capital Partners LLC increased its position in shares of Procter & Gamble by 50.4% during the fourth quarter. Proficio Capital Partners LLC now owns 10,360 shares of the company's stock worth $1,737,000 after acquiring an additional 3,472 shares during the period. Inspire Advisors LLC increased its position in shares of Procter & Gamble by 7.1% during the fourth quarter. Inspire Advisors LLC now owns 1,973 shares of the company's stock worth $331,000 after acquiring an additional 131 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in Procter & Gamble by 5.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 15,582 shares of the company's stock valued at $2,612,000 after buying an additional 775 shares during the period. 65.77% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Procter & Gamble
In related news, CEO Jennifer L. Davis sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 51,965 shares in the company, valued at approximately $8,386,111.70. This represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $1,669,208.40. Following the completion of the transaction, the insider owned 25,182 shares of the company's stock, valued at $3,995,627.94. The trade was a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the stock. Raymond James Financial cut their price objective on shares of Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Redburn Atlantic lowered shares of Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price objective on the stock. in a report on Thursday, May 1st. Royal Bank Of Canada raised shares of Procter & Gamble from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $164.00 to $177.00 in a report on Friday, April 25th. Redburn Partners set a $161.00 price objective on shares of Procter & Gamble in a report on Thursday, May 1st. Finally, Piper Sandler lifted their price objective on shares of Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $178.45.
Check Out Our Latest Stock Analysis on Procter & Gamble
Procter & Gamble Stock Performance
Shares of PG stock opened at $158.46 on Friday. The company has a market capitalization of $371.52 billion, a P/E ratio of 25.15, a P/E/G ratio of 4.48 and a beta of 0.40. The business's 50 day moving average is $161.84 and its two-hundred day moving average is $165.03. The company has a current ratio of 0.71, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. Procter & Gamble Company has a 12-month low of $155.95 and a 12-month high of $180.43.
Procter & Gamble (NYSE:PG - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $1.54 EPS for the quarter, beating analysts' consensus estimates of $1.53 by $0.01. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The business had revenue of $19.78 billion during the quarter, compared to analysts' expectations of $20.42 billion. During the same quarter in the prior year, the firm earned $1.52 earnings per share. The business's revenue was down 2.1% compared to the same quarter last year. Analysts expect that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.
Procter & Gamble Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be issued a $1.0568 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $4.23 annualized dividend and a dividend yield of 2.67%. Procter & Gamble's dividend payout ratio is presently 67.14%.
Procter & Gamble Profile
(
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.
Further Reading
Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Procter & Gamble Company (The) (NYSE:PG - Free Report).
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