Kanawha Capital Management LLC raised its stake in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 185,102 shares of the company's stock after acquiring an additional 6,811 shares during the period. Procter & Gamble makes up 2.5% of Kanawha Capital Management LLC's investment portfolio, making the stock its 7th biggest holding. Kanawha Capital Management LLC's holdings in Procter & Gamble were worth $31,545,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Procter & Gamble during the 4th quarter worth approximately $5,244,463,000. GAMMA Investing LLC boosted 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 buying an additional 7,913,335 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Procter & Gamble during the fourth quarter worth $1,010,685,000. Bank Julius Baer & Co. Ltd Zurich raised its position in Procter & Gamble by 1,195.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company's stock worth $580,596,000 after acquiring an additional 2,973,757 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings in Procter & Gamble by 62.5% in the fourth quarter. Capital Research Global Investors now owns 7,398,120 shares of the company's stock valued at $1,240,294,000 after acquiring an additional 2,846,560 shares during the period. 65.77% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Procter & Gamble
In related news, CEO Jennifer L. Davis sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total value of $161,380.00. Following the completion of the sale, the chief executive officer directly owned 51,965 shares in the company, valued at approximately $8,386,111.70. The trade was a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the 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 directly owned 25,182 shares in the company, valued at approximately $3,995,627.94. This represents a 29.47% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.
Procter & Gamble Trading Down 0.3%
PG stock traded down $0.48 during midday trading on Thursday, hitting $160.72. The stock had a trading volume of 6,999,589 shares, compared to its average volume of 7,490,519. The company's 50-day moving average price is $162.10 and its 200 day moving average price is $165.37. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.71 and a quick ratio of 0.50. The firm has a market cap of $376.82 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 4.59 and a beta of 0.40. Procter & Gamble Company has a 12-month low of $156.58 and a 12-month high of $180.43.
Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.54 EPS for the quarter, beating analysts' consensus estimates of $1.53 by $0.01. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The business had revenue of $19.78 billion during the quarter, compared to the consensus estimate of $20.42 billion. During the same quarter in the previous year, the business earned $1.52 earnings per share. The business's revenue for the quarter was down 2.1% on a year-over-year basis. On average, equities research analysts predict that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.
Procter & Gamble Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were issued a dividend of $1.0568 per share. This is a positive change from Procter & Gamble's previous quarterly dividend of $1.01. This represents a $4.23 annualized dividend and a dividend yield of 2.63%. The ex-dividend date was Monday, April 21st. Procter & Gamble's dividend payout ratio is presently 67.14%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the stock. Erste Group Bank downgraded shares of Procter & Gamble from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Bank of America dropped their target price on shares of Procter & Gamble from $190.00 to $180.00 and set a "buy" rating for the company in a report on Friday, April 25th. Truist Financial decreased their price target on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Citigroup dropped their price objective on Procter & Gamble from $200.00 to $181.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Evercore ISI reaffirmed an "outperform" rating and set a $190.00 price objective (up from $170.00) on shares of Procter & Gamble in a report on Tuesday, June 3rd. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $178.45.
Read Our Latest Research Report on Procter & Gamble
About Procter & Gamble
(
Free Report)
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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