Procter & Gamble Company (The) $PG Shares Acquired by Eastern Bank

Key Points

• Eastern Bank increased its Procter & Gamble stake by 4.2% in the second quarter, bringing its holdings to 427,106 shares valued at approximately $62.6 million. Institutional investors collectively own 65.77% of PG.
• Procter & Gamble reported quarterly EPS of $1.43, exceeding estimates of $1.41, while revenue rose 1.5% year over year to $21.20 billion but fell short of expectations.
• The company declared a quarterly dividend of $1.0885, equivalent to an annualized $4.35 payout and a 3.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $161.52.

Eastern Bank lifted its position in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 427,106 shares of the company's stock after purchasing an additional 17,156 shares during the period. Eastern Bank's holdings in Procter & Gamble were worth $62,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Cibc World Market Inc. lifted its stake in Procter & Gamble by 40.6% in the 4th quarter. Cibc World Market Inc. now owns 511,833 shares of the company's stock valued at $73,351,000 after buying an additional 147,701 shares in the last quarter. World Investment Advisors boosted its holdings in Procter & Gamble by 15.9% in the 4th quarter. World Investment Advisors now owns 105,915 shares of the company's stock worth $15,179,000 after buying an additional 14,492 shares during the last quarter. Resources Management Corp CT ADV increased its stake in Procter & Gamble by 41.8% during the 4th quarter. Resources Management Corp CT ADV now owns 81,511 shares of the company's stock worth $11,681,000 after buying an additional 24,010 shares in the last quarter. Indivisible Partners acquired a new position in shares of Procter & Gamble during the fourth quarter valued at approximately $2,120,000. Finally, Manning & Napier Advisors LLC raised its holdings in shares of Procter & Gamble by 3,791.9% during the fourth quarter. Manning & Napier Advisors LLC now owns 11,053 shares of the company's stock valued at $1,592,000 after acquiring an additional 10,769 shares during the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $144.85 on Tuesday. Procter & Gamble Company has a 12-month low of $137.62 and a 12-month high of $167.25. The stock has a market cap of $337.31 billion, a P/E ratio of 21.88, a PEG ratio of 4.44 and a beta of 0.39. The company has a 50-day moving average price of $147.72 and a 200 day moving average price of $148.96. The company has a current ratio of 0.68, a quick ratio of 0.47 and a debt-to-equity ratio of 0.42.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.02. Procter & Gamble had a net margin of 18.44% and a return on equity of 31.25%. The company had revenue of $21.20 billion for the quarter, compared to the consensus estimate of $21.38 billion. During the same period in the previous year, the firm earned $1.48 earnings per share. Procter & Gamble's quarterly revenue was up 1.5% compared to the same quarter last year. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. Sell-side analysts anticipate that Procter & Gamble Company will post 6.99 earnings per share for the current year.

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, July 24th will be issued a $1.0885 dividend. The ex-dividend date is Friday, July 24th. This represents a $4.35 dividend on an annualized basis and a yield of 3.0%. Procter & Gamble's dividend payout ratio is currently 65.71%.

Analysts Set New Price Targets

PG has been the topic of a number of research analyst reports. Sanford C. Bernstein began coverage on Procter & Gamble in a research note on Thursday, June 11th. They issued a "market perform" rating and a $156.00 price target on the stock. Bank of America reduced their price objective on Procter & Gamble from $170.00 to $166.00 and set a "buy" rating for the company in a research note on Friday, July 10th. Piper Sandler raised their price objective on Procter & Gamble from $142.00 to $145.00 and gave the company a "neutral" rating in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $163.00 target price on shares of Procter & Gamble in a research note on Monday, April 27th. Finally, Morgan Stanley reduced their target price on shares of Procter & Gamble from $175.00 to $166.00 and set an "overweight" rating for the company in a research report on Wednesday, April 22nd. Thirteen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $161.52.

Procter & Gamble Profile

Procter & Gamble NYSE: PG is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world's largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G's product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.

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