SouthState Corp Increases Stock Holdings in Procter & Gamble Company (The) (NYSE:PG)

Key Points

• SouthState Corp increased its stake in Procter & Gamble by 2.2% in Q1, owning a total of 79,379 shares valued at approximately $13.5 million.
• Procter & Gamble reported earnings of $1.48 per share, exceeding analyst expectations, with revenues of $20.89 billion for the quarter.
• The company announced a quarterly dividend of $1.0568, which results in an annualized dividend yield of 2.8%.

SouthState Corp grew its holdings in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 2.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 79,379 shares of the company's stock after buying an additional 1,711 shares during the period. SouthState Corp's holdings in Procter & Gamble were worth $13,528,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Nuveen LLC bought a new position in shares of Procter & Gamble in the 1st quarter worth $1,954,941,000. GAMMA Investing LLC lifted its holdings in shares of Procter & Gamble by 20,758.5% in the 1st 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 in the last quarter. Capital Research Global Investors raised its position in Procter & Gamble by 62.5% in the 4th quarter. Capital Research Global Investors now owns 7,398,120 shares of the company's stock valued at $1,240,294,000 after buying an additional 2,846,560 shares during the last quarter. Northern Trust Corp raised its position in Procter & Gamble by 10.1% in the 4th quarter. Northern Trust Corp now owns 29,395,208 shares of the company's stock valued at $4,928,107,000 after buying an additional 2,703,757 shares during the last quarter. Finally, Invesco Ltd. raised its position in Procter & Gamble by 19.8% in the 1st quarter. Invesco Ltd. now owns 13,493,604 shares of the company's stock valued at $2,299,580,000 after buying an additional 2,228,151 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on Procter & Gamble from $175.00 to $173.00 and set an "overweight" rating for the company in a research report 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 report on Thursday, July 31st. 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. Bank of America decreased their target price on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, Truist Financial cut their price target on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Seven investment 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $175.88.

Procter & Gamble Stock Performance

PG stock traded up $1.52 during trading on Monday, reaching $155.03. The stock had a trading volume of 7,327,441 shares, compared to its average volume of 7,956,396. Procter & Gamble Company has a 52 week low of $149.91 and a 52 week high of $180.43. The stock's 50 day moving average is $158.01 and its two-hundred day moving average is $163.60. The company has a current ratio of 0.70, a quick ratio of 0.49 and a debt-to-equity ratio of 0.49. The firm has a market cap of $363.13 billion, a PE ratio of 23.81, a PEG ratio of 4.05 and a beta of 0.37.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping 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 firm had revenue of $20.89 billion for the quarter, compared to the consensus estimate of $20.79 billion. During the same quarter last year, the company earned $1.40 earnings per share. The business's revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities analysts anticipate that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be paid a dividend of $1.0568 per share. This represents a $4.23 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, July 18th. Procter & Gamble's dividend payout ratio (DPR) 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.