Mackenzie Financial Corp Grows Position in Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Mackenzie Financial Corp increased its stake in Procter & Gamble by 5.5% in Q1, owning a total of 1,802,509 shares worth approximately $307 million.
• Procter & Gamble recently announced a quarterly dividend of $1.0568 per share, with an annualized yield of 2.67%, payable on August 15th.
• Equities research analysts have set a consensus price target of $176.12 for Procter & Gamble, with ratings varying between buy and hold.

Mackenzie Financial Corp boosted its position in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 5.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,802,509 shares of the company's stock after acquiring an additional 93,534 shares during the period. Mackenzie Financial Corp owned 0.08% of Procter & Gamble worth $307,184,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Unique Wealth LLC lifted its stake in Procter & Gamble by 2.9% in the first quarter. Unique Wealth LLC now owns 2,141 shares of the company's stock worth $365,000 after purchasing an additional 61 shares during the last quarter. Stableford Capital II LLC boosted its position in Procter & Gamble by 1.1% during the 1st quarter. Stableford Capital II LLC now owns 5,817 shares of the company's stock valued at $993,000 after acquiring an additional 61 shares in the last quarter. Bernard Wealth Management Corp. lifted its position in Procter & Gamble by 20.2% during the first quarter. Bernard Wealth Management Corp. now owns 375 shares of the company's stock valued at $64,000 after buying an additional 63 shares during the period. B & T Capital Management DBA Alpha Capital Management increased its stake in Procter & Gamble by 2.3% during the 1st quarter. B & T Capital Management DBA Alpha Capital Management now owns 2,795 shares of the company's stock valued at $476,000 after purchasing an additional 63 shares in the last quarter. Finally, Kolinsky Wealth Management LLC increased its holdings in shares of Procter & Gamble by 1.1% in the 4th quarter. Kolinsky Wealth Management LLC now owns 5,738 shares of the company's stock worth $962,000 after purchasing an additional 64 shares in the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of Procter & Gamble stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the transaction, the insider owned 25,182 shares in the company, valued at approximately $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PG shares. Barclays set a $164.00 price target on Procter & Gamble in a research note on Thursday. Morgan Stanley set a $180.00 target price on shares of Procter & Gamble and gave the company an "overweight" rating in a research note on Friday, April 25th. Raymond James Financial lowered their target price on Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Piper Sandler boosted their target price on Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Finally, Wells Fargo & Company reduced their price target on shares of Procter & Gamble from $175.00 to $173.00 and set an "overweight" rating on the stock in a research note on Wednesday. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $175.88.

Procter & Gamble Stock Performance

PG traded down $1.81 on Thursday, reaching $151.07. The stock had a trading volume of 5,697,272 shares, compared to its average volume of 8,221,589. The company has a market cap of $354.19 billion, a P/E ratio of 23.21, a price-to-earnings-growth ratio of 4.47 and a beta of 0.40. Procter & Gamble Company has a 12-month low of $150.16 and a 12-month high of $180.43. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.48. The business's 50-day moving average price is $160.43 and its two-hundred day moving average price is $164.11.

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 the consensus estimate of $1.42 by $0.06. Procter & Gamble had a net margin of 18.95% and a return on equity of 32.56%. The business had revenue of $20.89 billion for the quarter, compared to analyst estimates of $20.79 billion. During the same quarter last year, the business earned $1.40 earnings per share. The company's revenue for the quarter was up 1.7% compared to the same quarter last year. Sell-side analysts forecast that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be paid a $1.0568 dividend. This represents a $4.23 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Friday, July 18th. Procter & Gamble's dividend payout ratio is currently 67.14%.

Procter & Gamble 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.