Townsquare Capital LLC Boosts Stake in Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Townsquare Capital LLC increased its stake in Procter & Gamble by 8.1%, holding 143,361 shares valued at approximately $24.4 million.
• Several institutional investors, including Northern Trust Corp and Goldman Sachs Group Inc., have also boosted their positions in Procter & Gamble, contributing to institutional ownership of 65.77%.
• Procter & Gamble announced a quarterly dividend of $1.0568 per share, resulting in a yield of 2.8% and a payout ratio of 64.82%.

Townsquare Capital LLC grew its holdings in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 8.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 143,361 shares of the company's stock after buying an additional 10,699 shares during the quarter. Townsquare Capital LLC's holdings in Procter & Gamble were worth $24,432,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PG. Northern Trust Corp grew its stake in Procter & Gamble by 10.1% in the 4th quarter. Northern Trust Corp now owns 29,395,208 shares of the company's stock worth $4,928,107,000 after acquiring an additional 2,703,757 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Procter & Gamble by 3.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 17,405,539 shares of the company's stock worth $2,966,252,000 after acquiring an additional 583,629 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Procter & Gamble by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 17,090,898 shares of the company's stock worth $2,911,989,000 after acquiring an additional 208,991 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Procter & Gamble by 15.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,274,563 shares of the company's stock worth $2,728,430,000 after acquiring an additional 2,224,912 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Procter & Gamble by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,712,499 shares of the company's stock worth $1,628,252,000 after acquiring an additional 267,534 shares in the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PG has been the topic of a number of research analyst reports. Bank of America dropped their target price 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. restated a "neutral" rating and issued a $170.00 target price (down from $178.00) on shares of Procter & Gamble in a research note on Friday, July 25th. Evercore ISI restated an "in-line" rating and issued a $170.00 target price (down from $190.00) on shares of Procter & Gamble in a research note on Monday, July 14th. Barclays set a $164.00 target price on shares of Procter & Gamble and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Finally, Redburn Partners set a $161.00 price objective on shares of Procter & Gamble in a research note on Thursday, May 1st. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Procter & Gamble presently has an average rating of "Moderate Buy" and a consensus target price of $175.88.

Procter & Gamble Stock Up 0.0%

NYSE:PG traded up $0.06 during midday trading on Friday, reaching $153.55. 5,810,954 shares of the stock traded hands, 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 business has a 50-day moving average of $158.26 and a two-hundred day moving average of $163.68. 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 $359.67 billion, a PE ratio of 23.59, 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 earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.06. The company had revenue of $20.89 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.40 earnings per share. On average, equities analysts forecast that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, July 18th. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.8%. Procter & Gamble's dividend payout ratio (DPR) is currently 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.