NewEdge Advisors LLC Has $46.76 Million Position in Procter & Gamble Company (The) $PG

Key Points

• NewEdge Advisors reduced its Procter & Gamble stake by 14.6% in the second quarter, selling 54,725 shares and retaining 318,850 shares valued at approximately $46.76 million. Institutional investors collectively own 65.77% of PG.
• Analyst sentiment remains positive but mixed, with a consensus “Moderate Buy” rating and an average price target of $161.19. Recent target changes ranged from $152 to $170, while some analysts maintained or downgraded their ratings to hold.
• PG shares opened at $142.55, near the lower end of their 52-week range, despite the company exceeding quarterly EPS estimates with $1.43 per share. Procter & Gamble also paid a quarterly dividend of $1.0885, equivalent to a 3.1% annualized yield.

NewEdge Advisors LLC lessened its stake in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 14.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 318,850 shares of the company's stock after selling 54,725 shares during the period. NewEdge Advisors LLC's holdings in Procter & Gamble were worth $46,756,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. California State Teachers Retirement System raised its position in shares of Procter & Gamble by 14,323.0% in the 2nd quarter. California State Teachers Retirement System now owns 516,914,798 shares of the company's stock valued at $75,800,386,000 after buying an additional 513,330,829 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Procter & Gamble during the 2nd quarter worth approximately $27,862,105,000. Norges Bank acquired a new stake in shares of Procter & Gamble during the 4th quarter worth approximately $4,664,783,000. Bank of America Corp DE bought a new position in Procter & Gamble in the second quarter valued at approximately $3,850,628,000. Finally, Bank of New York Mellon Corp acquired a new position in Procter & Gamble during the second quarter valued at approximately $2,281,505,000. 65.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays upped their target price on Procter & Gamble from $146.00 to $152.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 21st. Citigroup lowered their price target on Procter & Gamble from $181.00 to $170.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Bank of America dropped their price objective on Procter & Gamble from $170.00 to $166.00 and set a "buy" rating for the company in a research report on Friday, July 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Procter & Gamble in a research report on Wednesday, June 24th. Finally, Argus downgraded Procter & Gamble from a "buy" rating to a "hold" rating in a research note on Friday, August 7th. Thirteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Procter & Gamble has a consensus rating of "Moderate Buy" and an average price target of $161.19.

Insider Activity at Procter & Gamble

In related news, CAO Matthew Janzaruk sold 359 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $145.24, for a total value of $52,141.16. Following the completion of the transaction, the chief accounting officer owned 1,271 shares in the company, valued at $184,600.04. This trade represents a 22.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Marc Pritchard sold 4,030 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $143.79, for a total transaction of $579,473.70. Following the sale, the insider directly owned 187,001 shares in the company, valued at $26,888,873.79. The trade was a 2.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 6,627 shares of company stock worth $953,417 in the last quarter. 0.23% of the stock is owned by insiders.

Procter & Gamble Stock Down 2.1%

Shares of PG opened at $142.55 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.47 and a current ratio of 0.68. Procter & Gamble Company has a 52 week low of $137.62 and a 52 week high of $167.25. The stock has a market capitalization of $331.10 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 3.61 and a beta of 0.39. The stock has a fifty day moving average of $146.61 and a 200-day moving average of $147.45.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.02. The business had revenue of $21.20 billion during the quarter, compared to analysts' expectations of $21.38 billion. Procter & Gamble had a return on equity of 31.36% and a net margin of 18.44%.The business's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.48 EPS. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. As a group, sell-side analysts anticipate that Procter & Gamble Company will post 6.99 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, July 24th were paid a $1.0885 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $4.35 annualized dividend and a dividend yield of 3.1%. Procter & Gamble's dividend payout ratio is currently 65.71%.

About Procter & Gamble

Procter & Gamble Company is a global consumer products company that develops, manufactures and markets branded products used in households and personal care. Its portfolio spans beauty, grooming, health care, fabric and home care, and family care products.

The company's brands include Tide, Ariel, Downy, Dawn, Febreze, Bounty, Charmin, Pampers, Gillette, Oral-B, Crest, Head & Shoulders, Olay and Pantene. These products are sold through retailers, e-commerce platforms and other distribution channels.

Procter & Gamble was founded in Cincinnati in 1837 by William Procter and James Gamble.

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