LGT Group Foundation Raises Holdings in Procter & Gamble Company (The) (NYSE:PG)

Key Points

• LGT Group Foundation increased its holdings in Procter & Gamble by 86.7% during the first quarter, owning over 1 million shares valued at approximately $178.8 million.
• Procter & Gamble reported $1.48 earnings per share for the most recent quarter, exceeding analysts' expectations and reflecting a 1.7% increase in quarterly revenue year-over-year.
• The company announced a quarterly dividend of $1.0568, yielding 2.7%, with a payout ratio of 64.98%.

LGT Group Foundation boosted its holdings in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 86.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,049,317 shares of the company's stock after acquiring an additional 487,329 shares during the period. Procter & Gamble comprises about 2.5% of LGT Group Foundation's portfolio, making the stock its 11th largest position. LGT Group Foundation's holdings in Procter & Gamble were worth $178,825,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PG. LGT Fund Management Co Ltd. increased its holdings in shares of Procter & Gamble by 14.9% during the first quarter. LGT Fund Management Co Ltd. now owns 75,461 shares of the company's stock valued at $12,860,000 after acquiring an additional 9,762 shares in the last quarter. Thomas Story & Son LLC raised its holdings in shares of Procter & Gamble by 1.8% in the first quarter. Thomas Story & Son LLC now owns 65,358 shares of the company's stock worth $11,138,000 after buying an additional 1,136 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Procter & Gamble by 15.4% in the 1st quarter. Russell Investments Group Ltd. now owns 2,153,491 shares of the company's stock valued at $366,563,000 after acquiring an additional 286,595 shares during the period. Resona Asset Management Co. Ltd. grew its stake in Procter & Gamble by 7.4% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 846,043 shares of the company's stock valued at $143,870,000 after purchasing an additional 58,204 shares during the last quarter. Finally, Rathbones Group PLC lifted its holdings in shares of Procter & Gamble by 10.5% during the first quarter. Rathbones Group PLC now owns 1,349,484 shares of the company's stock worth $229,979,000 after purchasing an additional 128,355 shares during the period. 65.77% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Trading Up 1.0%

PG opened at $155.03 on Tuesday. The business's 50 day moving average price is $158.01 and its 200 day moving average price is $163.60. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.49 and a current ratio of 0.70. The stock has a market capitalization of $363.13 billion, a PE ratio of 23.81, a P/E/G ratio of 4.05 and a beta of 0.37. Procter & Gamble Company has a one year low of $149.91 and a one year high of $180.43.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.06. Procter & Gamble had a return on equity of 32.69% and a net margin of 18.95%. The company had revenue of $20.89 billion for the quarter, compared to analyst estimates of $20.79 billion. During the same quarter in the previous year, the company earned $1.40 earnings per share. The firm's quarterly revenue was up 1.7% compared to the same quarter last year. As a group, equities research analysts expect that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be given a $1.0568 dividend. This represents a $4.23 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, July 18th. Procter & Gamble's payout ratio is currently 64.98%.

Analyst Ratings Changes

Several equities research analysts have commented on PG shares. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $170.00 price target (down from $178.00) on shares of Procter & Gamble in a report on Friday, July 25th. Piper Sandler boosted their target price on shares of Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Evercore ISI reaffirmed an "in-line" rating and issued a $170.00 price objective (down previously from $190.00) on shares of Procter & Gamble in a report on Monday, July 14th. 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. Finally, Raymond James Financial decreased their target price on Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $175.88.

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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