Saudi Central Bank Buys 76,428 Shares of Procter & Gamble Company (The) $PG

Key Points

• Saudi Central Bank increased its Procter & Gamble stake by 88.6% in the second quarter, purchasing 76,428 additional shares for a total holding of 162,680 shares valued at approximately $23.9 million.
• Institutional investors own 65.77% of P&G, while insiders have sold 6,627 shares worth about $953,000 over the past 90 days.
• Analysts give P&G a “Moderate Buy” consensus rating with an average price target of $161.19. The company recently beat quarterly EPS estimates, reported 1.5% year-over-year revenue growth, and offers a 3.0% dividend yield.

Saudi Central Bank boosted its stake in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 88.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,680 shares of the company's stock after purchasing an additional 76,428 shares during the quarter. Saudi Central Bank's holdings in Procter & Gamble were worth $23,855,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PG. Fortitude Advisory Group L.L.C. raised its holdings in Procter & Gamble by 3.5% in the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 5,387 shares of the company's stock valued at $790,000 after acquiring an additional 184 shares in the last quarter. Angeles Wealth Management LLC raised its stake in shares of Procter & Gamble by 47.9% in the second quarter. Angeles Wealth Management LLC now owns 12,810 shares of the company's stock valued at $1,878,000 after purchasing an additional 4,146 shares in the last quarter. Unique Wealth LLC lifted its position in Procter & Gamble by 2.9% in the second quarter. Unique Wealth LLC now owns 2,520 shares of the company's stock worth $370,000 after purchasing an additional 71 shares during the period. Kaydan Wealth Management Inc. lifted its position in Procter & Gamble by 16.6% in the second quarter. Kaydan Wealth Management Inc. now owns 2,408 shares of the company's stock worth $353,000 after purchasing an additional 343 shares during the period. Finally, Advisory Solutions Group LLC acquired a new stake in Procter & Gamble during the second quarter worth $577,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Procter & Gamble

In related news, CAO Matthew Janzaruk sold 359 shares of the business's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $145.24, for a total value of $52,141.16. Following the sale, the chief accounting officer owned 1,271 shares of the company's stock, valued at $184,600.04. The trade was a 22.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Susan Whaley sold 2,238 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $143.79, for a total value of $321,802.02. Following the completion of the sale, the insider owned 26,989 shares of the company's stock, valued at $3,880,748.31. The trade was a 7.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 6,627 shares of company stock worth $953,417. Company insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

PG has been the topic of a number of analyst reports. Royal Bank Of Canada reiterated an "outperform" rating on shares of Procter & Gamble in a research report on Wednesday, August 19th. Argus cut shares of Procter & Gamble from a "buy" rating to a "hold" rating in a report on Friday, August 7th. Barclays upped their price objective on Procter & Gamble from $146.00 to $152.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 21st. Jefferies Financial Group boosted their price target on Procter & Gamble from $177.00 to $179.00 and gave the stock a "buy" rating in a research report on Friday, June 26th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Procter & Gamble in a research report on Wednesday, June 24th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $161.19.

Procter & Gamble Stock Performance

NYSE:PG opened at $146.29 on Friday. The stock's 50-day moving average is $146.77 and its 200-day moving average is $147.82. Procter & Gamble Company has a 1-year low of $137.62 and a 1-year high of $167.25. The company has a current ratio of 0.68, a quick ratio of 0.47 and a debt-to-equity ratio of 0.43. The stock has a market cap of $339.78 billion, a P/E ratio of 22.10, a price-to-earnings-growth ratio of 3.64 and a beta of 0.39.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.02. Procter & Gamble had a net margin of 18.44% and a return on equity of 31.36%. The business had revenue of $21.20 billion during the quarter, compared to analyst estimates of $21.38 billion. During the same quarter last year, the business earned $1.48 EPS. The firm's quarterly revenue was up 1.5% on a year-over-year basis. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. Equities research analysts anticipate that Procter & Gamble Company will post 6.99 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, July 24th were paid a dividend of $1.0885 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $4.35 annualized dividend and a dividend yield of 3.0%. Procter & Gamble's dividend payout ratio (DPR) is presently 65.71%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source