Parnassus Investments LLC Sells 109,412 Shares of Procter & Gamble Company (The) $PG

Key Points

• Parnassus Investments LLC sold 109,412 shares of Procter & Gamble, reducing its holdings by 3.1% to 3,390,048 shares, valued at approximately $577.7 million.
• Several hedge funds have increased their stakes in Procter & Gamble, with Nuveen LLC acquiring a stake worth $1.95 billion and GAMMA Investing LLC raising its stake by 20,758.5% during the first quarter.
• Procter & Gamble reported earnings of $1.48 per share, exceeding expectations, and announced a quarterly dividend of $1.0568, representing an annual yield of 2.7%.

Parnassus Investments LLC trimmed its holdings in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 3.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,390,048 shares of the company's stock after selling 109,412 shares during the quarter. Parnassus Investments LLC owned 0.14% of Procter & Gamble worth $577,732,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of PG. Nuveen LLC bought a new stake in shares of Procter & Gamble in the first quarter valued at approximately $1,954,941,000. GAMMA Investing LLC raised its stake in shares of Procter & Gamble by 20,758.5% in the first quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company's stock valued at $1,355,087,000 after purchasing an additional 7,913,335 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Procter & Gamble by 13.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,480,670 shares of the company's stock valued at $3,660,737,000 after purchasing an additional 2,466,308 shares in the last quarter. Invesco Ltd. raised its stake in shares of Procter & Gamble by 19.8% in the first quarter. Invesco Ltd. now owns 13,493,604 shares of the company's stock valued at $2,299,580,000 after purchasing an additional 2,228,151 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Procter & Gamble by 15.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,274,563 shares of the company's stock valued at $2,728,430,000 after purchasing an additional 2,224,912 shares in the last quarter. 65.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on PG shares. Wells Fargo & Company cut their target price on Procter & Gamble from $175.00 to $173.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Barclays set a $164.00 target price on Procter & Gamble and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Redburn Partners set a $161.00 target price on Procter & Gamble in a research note on Thursday, May 1st. BNP Paribas restated an "outperform" rating and issued a $177.00 target price on shares of Procter & Gamble in a research note on Friday, August 15th. Finally, Redburn Atlantic lowered Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 target price for the company. in a research note on Thursday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $175.12.

Insiders Place Their Bets

In related news, CFO Andre Schulten sold 11,638 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $157.27, for a total value of $1,830,308.26. Following the transaction, the chief financial officer owned 52,642 shares in the company, valued at $8,279,007.34. This trade represents a 18.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marc S. Pritchard sold 9,849 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $157.27, for a total value of $1,548,952.23. Following the completion of the transaction, the insider owned 182,422 shares in the company, valued at approximately $28,689,507.94. This represents a 5.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 119,181 shares of company stock valued at $18,761,172 over the last 90 days. Corporate insiders own 0.18% of the company's stock.

Procter & Gamble Stock Performance

Procter & Gamble stock opened at $155.63 on Friday. 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 stock has a fifty day moving average price of $156.59 and a two-hundred day moving average price of $162.63. Procter & Gamble Company has a 52-week low of $149.91 and a 52-week high of $180.43. The firm has a market capitalization of $364.54 billion, a P/E ratio of 23.91, a P/E/G ratio of 4.14 and a beta of 0.37.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share 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 during the quarter, compared to analyst estimates of $20.79 billion. During the same period last year, the company posted $1.40 earnings per share. The firm's quarterly revenue was up 1.7% compared to the same quarter last year. Procter & Gamble has set its FY 2026 guidance at 6.830-7.090 EPS. As a group, analysts anticipate that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 18th were issued a $1.0568 dividend. The ex-dividend date was Friday, July 18th. This represents a $4.23 annualized dividend and a yield of 2.7%. Procter & Gamble's dividend payout ratio (DPR) is currently 64.98%.

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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