Procter & Gamble Company (The) (NYSE:PG) Shares Purchased by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management increased its stake in Procter & Gamble by 153.5%, acquiring an additional 65,160 shares during the first quarter, bringing its total holdings to 107,596 shares valued at approximately $18.34 million.
• Procter & Gamble is currently facing mixed analyst ratings, with a number of changes to price targets, including a downgrade from Evercore ISI and a price target drop from JPMorgan Chase & Co., reflecting a current average target price of $176.12.
• The company recently announced a quarterly dividend of $1.0568, which represents an annualized dividend of $4.23 and a yield of 2.69%, highlighting its commitment to returning value to shareholders.

Picton Mahoney Asset Management raised its stake in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 153.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,596 shares of the company's stock after acquiring an additional 65,160 shares during the quarter. Picton Mahoney Asset Management's holdings in Procter & Gamble were worth $18,336,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Procter & Gamble by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 56,472,195 shares of the company's stock valued at $9,457,000,000 after buying an additional 1,267,419 shares during the period. Northern Trust Corp lifted its holdings in Procter & Gamble by 10.1% in the fourth 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 during the last quarter. Franklin Resources Inc. boosted its stake in Procter & Gamble by 6.4% in the fourth quarter. Franklin Resources Inc. now owns 20,197,996 shares of the company's stock valued at $3,386,194,000 after acquiring an additional 1,209,275 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Procter & Gamble by 15.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,274,563 shares of the company's stock valued at $2,728,430,000 after purchasing an additional 2,224,912 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Procter & Gamble by 13.6% during the 4th quarter. Invesco Ltd. now owns 11,265,453 shares of the company's stock worth $1,888,653,000 after purchasing an additional 1,345,501 shares during the period. 65.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PG has been the subject of a number of analyst reports. Evercore ISI restated an "in-line" rating and set a $170.00 price objective (down previously from $190.00) on shares of Procter & Gamble in a research report on Monday, July 14th. Erste Group Bank downgraded shares of Procter & Gamble from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Piper Sandler increased their price objective on shares of Procter & Gamble from $160.00 to $164.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $170.00 target price (down from $178.00) on shares of Procter & Gamble in a research note on Friday. Finally, Raymond James Financial dropped their price target on shares of Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Nine equities 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $176.12.

Procter & Gamble Price Performance

NYSE:PG opened at $156.98 on Tuesday. The company has a quick ratio of 0.50, a current ratio of 0.71 and a debt-to-equity ratio of 0.47. The business's 50-day moving average price is $160.86 and its 200 day moving average price is $164.24. Procter & Gamble Company has a 52-week low of $151.90 and a 52-week high of $180.43. The firm has a market cap of $368.05 billion, a P/E ratio of 24.92, a PEG ratio of 4.51 and a beta of 0.40.

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 issued a $1.0568 dividend. The ex-dividend date is Friday, July 18th. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.69%. Procter & Gamble's payout ratio is currently 67.14%.

Insider Buying and Selling

In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the sale, the insider directly owned 25,182 shares in the company, valued at approximately $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Procter & Gamble 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.