Summit Global Investments Makes New Investment in Procter & Gamble Company (The) $PG

Key Points

• Summit Global Investments acquired 13,617 Procter & Gamble shares in the second quarter, worth approximately $1.997 million. Institutional investors collectively own 65.77% of PG stock.
• Analysts maintain a generally positive view, with 13 Buy ratings and 11 Holds producing a “Moderate Buy” consensus and an average price target of $161.52.
• Procter & Gamble reported quarterly EPS of $1.43, exceeding estimates, while revenue rose 1.5% year over year to $21.20 billion. The company also declared a quarterly dividend of $1.0885 per share, representing a 3.0% annualized yield.

Summit Global Investments acquired a new stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 13,617 shares of the company's stock, valued at approximately $1,997,000.

Other hedge funds also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Procter & Gamble by 1,000.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 165 shares of the company's stock valued at $25,000 after buying an additional 150 shares during the period. Park Square Financial Group LLC increased its stake in Procter & Gamble by 65.1% during the 4th quarter. Park Square Financial Group LLC now owns 180 shares of the company's stock worth $26,000 after acquiring an additional 71 shares during the period. Evolution Wealth Management Inc. increased its stake in Procter & Gamble by 1,315.4% during the 4th quarter. Evolution Wealth Management Inc. now owns 184 shares of the company's stock worth $26,000 after acquiring an additional 171 shares during the period. Litman Gregory Wealth Management LLC acquired a new position in Procter & Gamble in the 4th quarter valued at $26,000. Finally, Basso Capital Management L.P. bought a new stake in shares of Procter & Gamble during the 4th quarter valued at $28,000. 65.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Citigroup reduced their target price on Procter & Gamble from $181.00 to $170.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. BNP Paribas Exane cut their price objective on shares of Procter & Gamble from $172.00 to $165.00 and set an "outperform" rating for the company in a research report on Thursday, April 23rd. Barclays increased their price objective on shares of Procter & Gamble from $146.00 to $152.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 21st. Evercore set a $162.00 target price on shares of Procter & Gamble in a report on Monday, April 27th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $163.00 price target on shares of Procter & Gamble in a report on Monday, April 27th. Thirteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $161.52.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $144.47 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.47 and a current ratio of 0.68. Procter & Gamble Company has a 52 week low of $137.62 and a 52 week high of $167.25. The stock has a market capitalization of $335.82 billion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 4.42 and a beta of 0.39. The stock has a fifty day moving average of $147.94 and a 200-day moving average of $148.78.

Procter & Gamble (NYSE:PG - Get Free Report) last released its earnings results 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. The firm had revenue of $21.20 billion for the quarter, compared to analysts' expectations of $21.38 billion. Procter & Gamble had a return on equity of 31.36% and a net margin of 18.44%.The business's revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.48 earnings per share. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. On average, sell-side analysts expect that Procter & Gamble Company will post 6.98 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 24th were issued 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 payout ratio is 65.71%.

About Procter & Gamble

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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