Procter & Gamble Company (The) (NYSE:PG) Holdings Lifted by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Procter & Gamble by 6.0%, owning approximately 8.93 million shares, which represent 1.4% of its total holdings.
• Procter & Gamble reported earnings of $1.48 per share for the quarter, exceeding analysts' expectations and showing a year-over-year revenue growth of 1.7%.
• The company announced a quarterly dividend of $1.0568 per share, equating to an annual yield of 2.8%, with the ex-dividend date set for July 18th.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 6.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,929,978 shares of the company's stock after acquiring an additional 503,252 shares during the quarter. Procter & Gamble comprises approximately 1.4% of Mitsubishi UFJ Asset Management Co. Ltd.'s portfolio, making the stock its 9th biggest position. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.38% of Procter & Gamble worth $1,521,847,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Cladis Investment Advisory LLC lifted its holdings in shares of Procter & Gamble by 5.2% during the fourth quarter. Cladis Investment Advisory LLC now owns 4,807 shares of the company's stock worth $806,000 after purchasing an additional 236 shares during the period. FAS Wealth Partners Inc. lifted its holdings in shares of Procter & Gamble by 2.0% during the fourth quarter. FAS Wealth Partners Inc. now owns 27,690 shares of the company's stock worth $4,642,000 after purchasing an additional 549 shares during the period. Capital Investment Advisory Services LLC lifted its holdings in shares of Procter & Gamble by 13.8% during the first quarter. Capital Investment Advisory Services LLC now owns 37,709 shares of the company's stock worth $6,426,000 after purchasing an additional 4,562 shares during the period. World Investment Advisors lifted its holdings in shares of Procter & Gamble by 6.0% during the first quarter. World Investment Advisors now owns 50,913 shares of the company's stock worth $8,677,000 after purchasing an additional 2,886 shares during the period. Finally, Sanders Capital LLC lifted its holdings in shares of Procter & Gamble by 1.4% during the fourth quarter. Sanders Capital LLC now owns 7,353,715 shares of the company's stock worth $1,232,850,000 after purchasing an additional 104,168 shares during the period. 65.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PG has been the subject of several recent research reports. Raymond James Financial decreased their price target on Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Truist Financial reduced their target price on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating for the company in a report on Friday, April 25th. Royal Bank Of Canada raised Procter & Gamble from a "sector perform" rating to an "outperform" rating and raised their target price for the company from $164.00 to $177.00 in a report on Friday, April 25th. Piper Sandler raised their target price on Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Finally, UBS Group set a $180.00 target price on Procter & Gamble and gave the company a "buy" rating in a report on Wednesday, July 30th. Seven 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 MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $175.88.

Procter & Gamble Price Performance

Shares of PG stock traded up $0.06 during mid-day trading on Friday, reaching $153.55. The stock had a trading volume of 5,810,954 shares, compared to its average volume of 8,068,523. Procter & Gamble Company has a 12-month low of $149.91 and a 12-month high of $180.43. The company has a market cap of $359.67 billion, a P/E ratio of 23.59, a price-to-earnings-growth ratio of 4.05 and a beta of 0.37. The business has a 50-day simple moving average of $158.26 and a 200 day simple moving average of $163.68. The company has a current ratio of 0.70, a quick ratio of 0.49 and a debt-to-equity ratio of 0.49.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly 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. The business had revenue of $20.89 billion during the quarter, compared to analysts' expectations of $20.79 billion. Procter & Gamble had a return on equity of 32.69% and a net margin of 18.95%. The business's revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $1.40 earnings per share. On average, sell-side analysts anticipate that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be issued a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, July 18th. Procter & Gamble's dividend payout ratio is 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.