Prudential PLC Trims Holdings in Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Prudential PLC has reduced its stake in Procter & Gamble by 15.7%, now holding 36,353 shares valued at approximately $6.2 million, after selling 6,760 shares in the first quarter.
• Procter & Gamble reported a quarterly EPS of $1.48, exceeding analyst estimates, and had revenue of $20.89 billion, reflecting a 1.7% year-over-year increase.
• The company declared a quarterly dividend of $1.0568 per share, which equates to an annualized yield of 2.7%, with the dividend payout ratio currently at 64.98%.

Prudential PLC lessened its stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 15.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,353 shares of the company's stock after selling 6,760 shares during the quarter. Prudential PLC's holdings in Procter & Gamble were worth $6,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Brighton Jones LLC grew its stake in shares of Procter & Gamble by 51.5% during the 4th quarter. Brighton Jones LLC now owns 40,068 shares of the company's stock valued at $6,717,000 after purchasing an additional 13,617 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in Procter & Gamble by 493.6% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 341,750 shares of the company's stock worth $57,294,000 after purchasing an additional 284,174 shares in the last quarter. Ontario Teachers Pension Plan Board raised its holdings in shares of Procter & Gamble by 30.7% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 8,011 shares of the company's stock worth $1,343,000 after acquiring an additional 1,881 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Procter & Gamble during the 4th quarter worth approximately $469,000. Finally, Master S Wealth Management Inc. purchased a new stake in shares of Procter & Gamble during the 4th quarter worth approximately $329,000. 65.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PG has been the topic of several analyst reports. Evercore ISI reissued an "in-line" rating and set a $170.00 target price (down previously from $190.00) on shares of Procter & Gamble in a research report on Monday, July 14th. Redburn Atlantic downgraded Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price target on the stock. in a research report on Thursday, May 1st. Erste Group Bank cut Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Royal Bank Of Canada upgraded Procter & Gamble from a "sector perform" rating to an "outperform" rating and upped their price objective for the stock from $164.00 to $177.00 in a research note on Friday, April 25th. Finally, Truist Financial decreased 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, eleven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $175.94.

Procter & Gamble Stock Performance

Procter & Gamble stock traded up $0.56 during midday trading on Friday, hitting $154.30. 7,120,993 shares of the company were exchanged, compared to its average volume of 7,406,037. The firm has a market capitalization of $361.43 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 4.06 and a beta of 0.37. Procter & Gamble Company has a fifty-two week low of $149.91 and a fifty-two week high of $180.43. The business has a fifty day simple moving average of $157.19 and a two-hundred day simple moving average of $163.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.49 and a current ratio of 0.70.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating 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 company had revenue of $20.89 billion for the quarter, compared to analyst estimates of $20.79 billion. During the same period last year, the company earned $1.40 earnings per share. Procter & Gamble's quarterly revenue was up 1.7% compared to the same quarter last year. On average, sell-side analysts forecast that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Announces Dividend

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