Korea Investment CORP Boosts Stock Position in Procter & Gamble Company (The) $PG

Key Points

• Korea Investment CORP increased its stake in Procter & Gamble by 2.4% during Q1, owning 1,816,167 shares valued at approximately $309.5 million.
• Procter & Gamble recently reported Q2 earnings of $1.48 per share, exceeding estimates, alongside revenue of $20.89 billion, reflecting a year-over-year increase of 1.7%.
• The company announced a quarterly dividend of $1.0568 per share, translating to an annualized dividend yield of 2.7% and a payout ratio of 64.82%.

Korea Investment CORP lifted its position in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 2.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,816,167 shares of the company's stock after buying an additional 42,353 shares during the quarter. Procter & Gamble makes up 0.7% of Korea Investment CORP's investment portfolio, making the stock its 21st largest holding. Korea Investment CORP owned approximately 0.08% of Procter & Gamble worth $309,511,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PG. Navigoe LLC purchased a new stake in Procter & Gamble during the 4th quarter worth about $31,000. Capital A Wealth Management LLC purchased a new stake in Procter & Gamble during the 4th quarter worth about $31,000. 10Elms LLP purchased a new stake in Procter & Gamble during the 4th quarter worth about $34,000. Sunbeam Capital Management LLC purchased a new position in shares of Procter & Gamble in the 4th quarter valued at about $34,000. Finally, Mizuho Securities Co. Ltd. increased its holdings in shares of 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 during the last quarter. Hedge funds and other institutional investors own 65.77% of the company's stock.

Wall Street Analyst Weigh In

PG has been the subject of a number of research analyst reports. Truist Financial decreased their target price on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, April 25th. UBS Group set a $180.00 target price on Procter & Gamble and gave the company a "buy" rating in a research report on Wednesday, July 30th. Morgan Stanley set a $180.00 target price on Procter & Gamble and gave the company an "overweight" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $170.00 target price (down from $178.00) on shares of Procter & Gamble in a research report on Friday, July 25th. Finally, Erste Group Bank cut Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Procter & Gamble currently has an average rating of "Moderate Buy" and an average target price of $175.94.

Procter & Gamble Stock Performance

Shares of PG stock opened at $154.30 on Monday. The company has a market cap of $361.43 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 4.07 and a beta of 0.37. The stock has a 50 day simple moving average of $157.19 and a 200-day simple moving average of $163.24. Procter & Gamble Company has a 12-month low of $149.91 and a 12-month high of $180.43. The company has a current ratio of 0.70, a quick ratio of 0.49 and a debt-to-equity ratio of 0.49.

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

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 18th were paid a dividend of $1.0568 per share. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, July 18th. Procter & Gamble's dividend payout ratio is 64.82%.

Procter & Gamble Company Profile

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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