Manhattan West Asset Management LLC Has $5.80 Million Stock Holdings in Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Manhattan West Asset Management LLC increased its stake in Procter & Gamble by 7.8%, owning 34,041 shares worth approximately $5.80 million.
• Procter & Gamble's stock has a consensus rating of "Moderate Buy" with a price target of $175.88 from analysts, indicating positive growth expectations.
• The company announced a quarterly dividend of $1.0568 per share, amounting to an annualized dividend yield of 2.8%.

Manhattan West Asset Management LLC lifted its stake in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 7.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,041 shares of the company's stock after acquiring an additional 2,462 shares during the period. Procter & Gamble makes up about 1.5% of Manhattan West Asset Management LLC's investment portfolio, making the stock its 17th largest holding. Manhattan West Asset Management LLC's holdings in Procter & Gamble were worth $5,801,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Navigoe LLC acquired a new position in Procter & Gamble in the 4th quarter valued at about $31,000. Capital A Wealth Management LLC acquired a new position in shares of Procter & Gamble during the 4th quarter worth approximately $31,000. 10Elms LLP acquired a new position in shares of Procter & Gamble during the 4th quarter worth approximately $34,000. Sunbeam Capital Management LLC acquired a new position in shares of Procter & Gamble during the 4th quarter worth approximately $34,000. Finally, Mizuho Securities Co. Ltd. grew its position in shares of Procter & Gamble by 566.7% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock worth $34,000 after purchasing an additional 170 shares in the last quarter. Institutional investors own 65.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PG shares. Erste Group Bank downgraded shares of Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Piper Sandler boosted their price objective 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. Royal Bank Of Canada raised shares of Procter & Gamble from a "sector perform" rating to an "outperform" rating and boosted their price target for the stock from $164.00 to $177.00 in a research note on Friday, April 25th. UBS Group set a $180.00 price target on shares of Procter & Gamble and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, Redburn Atlantic downgraded shares of Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 target price on the stock. in a research report on Thursday, May 1st. 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. Based on data from MarketBeat, Procter & Gamble presently has a consensus rating of "Moderate Buy" and a consensus price target of $175.88.

Procter & Gamble Stock Up 0.0%

Shares of NYSE:PG opened at $153.55 on Friday. The company has a market capitalization of $359.67 billion, a P/E ratio of 23.59, a P/E/G ratio of 4.05 and a beta of 0.37. The company has a quick ratio of 0.49, a current ratio of 0.70 and a debt-to-equity ratio of 0.49. The stock's fifty day simple moving average is $158.26 and its 200-day simple moving average is $163.68. Procter & Gamble Company has a 52-week low of $149.91 and a 52-week high of $180.43.

Procter & Gamble (NYSE:PG - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.06. The company had revenue of $20.89 billion for 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%. Procter & Gamble's quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.40 EPS. As a group, equities research analysts forecast that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be given a dividend of $1.0568 per share. This represents a $4.23 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, July 18th. Procter & Gamble's payout ratio is currently 64.98%.

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.

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