Raymond James Financial Inc. Raises Holdings in Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Raymond James Financial Inc. increased its stake in Procter & Gamble by 4.2%, owning approximately 6.28 million shares valued at over $1 billion at the end of the last quarter.
• Procter & Gamble reported $1.48 EPS for the most recent quarter, exceeding analyst expectations, along with a revenue of $20.89 billion.
• The company declared a quarterly dividend of $1.0568 per share, yielding 2.7%, with a dividend payout ratio of 64.98%.

Raymond James Financial Inc. raised its stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 4.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,283,992 shares of the company's stock after buying an additional 255,449 shares during the quarter. Raymond James Financial Inc. owned about 0.27% of Procter & Gamble worth $1,070,918,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PG. Navigoe LLC purchased a new stake in shares of Procter & Gamble during the fourth quarter worth $31,000. Capital A Wealth Management LLC purchased a new stake in Procter & Gamble during the 4th quarter worth about $31,000. 10Elms LLP purchased a new stake in Procter & Gamble during the 4th quarter worth about $34,000. Sunbeam Capital Management LLC purchased a new position in shares of Procter & Gamble in the 4th quarter valued at about $34,000. Finally, Mizuho Securities Co. Ltd. grew its position in shares of Procter & Gamble by 566.7% during the first quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock worth $34,000 after buying an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PG shares. Wells Fargo & Company lowered their price objective 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. Redburn Partners set a $161.00 price objective on shares of Procter & Gamble in a report on Thursday, May 1st. Royal Bank Of Canada raised Procter & Gamble from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from $164.00 to $177.00 in a report on Friday, April 25th. Bank of America reduced their target price on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, BNP Paribas restated an "outperform" rating and set a $177.00 price target on shares of Procter & Gamble in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $175.94.

Procter & Gamble Trading Up 0.4%

Shares of PG opened at $154.30 on Friday. The stock's fifty day simple moving average is $157.19 and its 200 day simple moving average is $163.29. Procter & Gamble Company has a twelve month low of $149.91 and a twelve month high of $180.43. 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 capitalization of $361.43 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 4.06 and a beta of 0.37.

Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.06. The company had revenue of $20.89 billion during the quarter, compared to analyst estimates of $20.79 billion. Procter & Gamble had a net margin of 18.95% and a return on equity of 32.69%. The business's quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.40 earnings per share. On average, equities research analysts forecast that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 18th were issued a $1.0568 dividend. The ex-dividend date of this dividend was Friday, July 18th. This represents a $4.23 dividend on an annualized basis and a yield of 2.7%. Procter & Gamble's dividend payout ratio is currently 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.

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.