Klingman & Associates LLC Raises Holdings in Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Klingman & Associates LLC increased its stake in Procter & Gamble by 18.0%, acquiring an additional 1,849 shares, raising their total ownership to 12,117 shares worth approximately $2.07 million.
• Procter & Gamble reported a quarterly earnings per share (EPS) of $1.48, beating analysts' expectations, with a revenue of $20.89 billion, marking a 1.7% increase year-over-year.
• The company announced a quarterly dividend of $1.0568 per share, with a payout ratio of 64.98%, scheduled for payment on August 15th to shareholders recorded as of July 18th.

Klingman & Associates LLC increased its stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 18.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,117 shares of the company's stock after buying an additional 1,849 shares during the quarter. Klingman & Associates LLC's holdings in Procter & Gamble were worth $2,065,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PG. Nuveen LLC bought a new position in shares of Procter & Gamble during the first quarter valued at approximately $1,954,941,000. GAMMA Investing LLC lifted its position in shares of Procter & Gamble by 20,758.5% during the first quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company's stock worth $1,355,087,000 after purchasing an additional 7,913,335 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Procter & Gamble by 62.5% during the fourth quarter. Capital Research Global Investors now owns 7,398,120 shares of the company's stock worth $1,240,294,000 after purchasing an additional 2,846,560 shares during the last quarter. Northern Trust Corp lifted its position in shares of Procter & Gamble by 10.1% during the fourth quarter. Northern Trust Corp now owns 29,395,208 shares of the company's stock worth $4,928,107,000 after purchasing an additional 2,703,757 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Procter & Gamble by 19.8% during the first quarter. Invesco Ltd. now owns 13,493,604 shares of the company's stock worth $2,299,580,000 after purchasing an additional 2,228,151 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PG shares. Raymond James Financial decreased their target price on Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Redburn Atlantic downgraded Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price objective for the company. in a report on Thursday, May 1st. Royal Bank Of Canada upgraded Procter & Gamble from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $164.00 to $177.00 in a report on Friday, April 25th. UBS Group set a $180.00 price objective on Procter & Gamble and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, Morgan Stanley set a $180.00 price objective on Procter & Gamble and gave the company an "overweight" rating in a report on Friday, April 25th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Procter & Gamble currently has a consensus rating of "Moderate Buy" and an average price target of $175.88.

Procter & Gamble Stock Down 1.0%

PG traded down $1.58 on Thursday, hitting $153.83. The company had a trading volume of 6,342,893 shares, compared to its average volume of 7,504,851. The stock has a fifty day moving average price of $157.38 and a 200-day moving average price of $163.37. Procter & Gamble Company has a 12-month low of $149.91 and a 12-month high of $180.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.49 and a current ratio of 0.70. The stock has a market capitalization of $360.32 billion, a price-to-earnings ratio of 23.63, a P/E/G ratio of 4.10 and a beta of 0.37.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its 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. 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 for the quarter, compared to analyst estimates of $20.79 billion. During the same quarter in the previous year, the firm earned $1.40 earnings per share. The firm's quarterly revenue was up 1.7% compared to the same quarter last year. Analysts predict that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be paid a $1.0568 dividend. This represents a $4.23 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, July 18th. Procter & Gamble's payout ratio is 64.98%.

About Procter & Gamble

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.