Nuveen LLC Makes New $1.95 Billion Investment in Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Nuveen LLC has acquired a new position in Procter & Gamble, purchasing approximately 11.47 million shares valued at around $1.95 billion, making it the 26th largest holding in their portfolio.
• Institutional ownership of Procter & Gamble is significant, with 65.77% of the stock being owned by hedge funds and other institutional investors, indicating strong market interest.
• The company recently announced a quarterly dividend of $1.0568 per share, with a payout ratio of approximately 65%, reflecting its ongoing return to shareholders.

Nuveen LLC purchased a new position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,471,311 shares of the company's stock, valued at approximately $1,954,941,000. Procter & Gamble makes up about 0.6% of Nuveen LLC's portfolio, making the stock its 26th biggest holding. Nuveen LLC owned 0.49% of Procter & Gamble at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aigen Investment Management LP acquired a new position in shares of Procter & Gamble in the first quarter valued at $1,092,000. Strengthening Families & Communities LLC increased its holdings in shares of Procter & Gamble by 4.7% in the first quarter. Strengthening Families & Communities LLC now owns 1,634 shares of the company's stock valued at $269,000 after purchasing an additional 73 shares during the last quarter. Biltmore Family Office LLC increased its holdings in shares of Procter & Gamble by 4.1% in the first quarter. Biltmore Family Office LLC now owns 25,420 shares of the company's stock valued at $4,332,000 after purchasing an additional 1,000 shares during the last quarter. Magellan Asset Management Ltd increased its holdings in shares of Procter & Gamble by 6,593.8% in the first quarter. Magellan Asset Management Ltd now owns 1,141,295 shares of the company's stock valued at $194,499,000 after purchasing an additional 1,124,245 shares during the last quarter. Finally, White Lighthouse Investment Management Inc. increased its holdings in shares of Procter & Gamble by 26.0% in the first quarter. White Lighthouse Investment Management Inc. now owns 5,104 shares of the company's stock valued at $870,000 after purchasing an additional 1,053 shares during the last quarter. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Trading Up 1.0%

Shares of NYSE:PG traded up $1.52 during mid-day trading on Monday, hitting $155.03. The company had a trading volume of 7,327,441 shares, compared to its average volume of 7,956,396. The firm has a fifty day moving average price of $158.01 and a 200 day moving average price of $163.60. Procter & Gamble Company has a one year low of $149.91 and a one year high of $180.43. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.70 and a quick ratio of 0.49. The company has a market capitalization of $363.13 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 4.05 and a beta of 0.37.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly 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. The business had revenue of $20.89 billion during the quarter, compared to the consensus estimate of $20.79 billion. Procter & Gamble had a net margin of 18.95% and a return on equity of 32.69%. Procter & Gamble's revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.40 EPS. As a group, research analysts forecast that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be issued a dividend of $1.0568 per share. This represents a $4.23 dividend on an annualized basis 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%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Citigroup decreased their price objective on shares of Procter & Gamble from $200.00 to $181.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Bank of America reduced their price objective on shares of Procter & Gamble from $190.00 to $180.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $170.00 target price (down previously from $178.00) on shares of Procter & Gamble in a report on Friday, July 25th. Barclays set a $164.00 target price on shares of Procter & Gamble and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Finally, UBS Group set a $180.00 price objective on shares of Procter & Gamble and gave the company a "buy" rating in a report on Wednesday, July 30th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.