Kentucky Retirement Systems Insurance Trust Fund lessened its position in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 28.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,645 shares of the company's stock after selling 27,615 shares during the quarter. Procter & Gamble comprises 0.8% of Kentucky Retirement Systems Insurance Trust Fund's holdings, making the stock its 18th largest position. Kentucky Retirement Systems Insurance Trust Fund's holdings in Procter & Gamble were worth $11,698,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. North Point Portfolio Managers Corp OH lifted its stake in shares of Procter & Gamble by 138.1% in the first quarter. North Point Portfolio Managers Corp OH now owns 5,871 shares of the company's stock worth $1,001,000 after buying an additional 3,405 shares in the last quarter. Synergy Asset Management LLC lifted its stake in Procter & Gamble by 1,383.6% in the 1st quarter. Synergy Asset Management LLC now owns 95,440 shares of the company's stock worth $16,265,000 after purchasing an additional 89,007 shares in the last quarter. Altrius Capital Management Inc lifted its position in Procter & Gamble by 3.2% during the first quarter. Altrius Capital Management Inc now owns 28,168 shares of the company's stock worth $4,800,000 after buying an additional 884 shares in the last quarter. Buck Wealth Strategies LLC lifted its position in Procter & Gamble by 11.4% during the first quarter. Buck Wealth Strategies LLC now owns 56,735 shares of the company's stock worth $9,669,000 after buying an additional 5,803 shares in the last quarter. Finally, Shum Financial Group Inc. lifted its position in Procter & Gamble by 4.6% during the first quarter. Shum Financial Group Inc. now owns 7,005 shares of the company's stock worth $1,194,000 after buying an additional 308 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently commented on PG. Citigroup reduced their price target on Procter & Gamble from $200.00 to $181.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Barclays reiterated an "equal weight" rating on shares of Procter & Gamble in a report on Thursday, March 27th. Morgan Stanley set a $180.00 target price on shares of Procter & Gamble and gave the company an "overweight" rating in a report on Friday, April 25th. Evercore ISI reiterated an "outperform" rating and issued a $190.00 target price (up from $170.00) on shares of Procter & Gamble in a report on Tuesday, June 3rd. Finally, Piper Sandler upped their price objective on Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Eight equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $178.86.
Read Our Latest Stock Analysis on PG
Insider Transactions at Procter & Gamble
In related news, CEO Jennifer L. Davis sold 1,000 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were 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 directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $158.67, for a total transaction 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 trade represents a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.
Procter & Gamble Stock Up 0.6%
Shares of NYSE PG opened at $158.93 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. The stock has a market cap of $372.62 billion, a P/E ratio of 25.23, a PEG ratio of 4.69 and a beta of 0.43. The business's fifty day simple moving average is $163.35 and its 200-day simple moving average is $166.00. Procter & Gamble Company has a 12-month low of $156.58 and a 12-month high of $180.43.
Procter & Gamble (NYSE:PG - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.01. Procter & Gamble had a net margin of 18.46% and a return on equity of 32.67%. The firm had revenue of $19.78 billion for the quarter, compared to analysts' expectations of $20.42 billion. During the same quarter last year, the company earned $1.52 earnings per share. The firm's revenue was down 2.1% compared to the same quarter last year. As a group, equities analysts predict that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.
Procter & Gamble Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were given a dividend of $1.0568 per share. This represents a $4.23 annualized dividend and a dividend yield of 2.66%. The ex-dividend date was Monday, April 21st. This is a positive change from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's dividend payout ratio (DPR) is 67.14%.
Procter & Gamble Company 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.
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