US Bancorp DE Trims Position in Procter & Gamble Company (The) (NYSE:PG)

Key Points

• US Bancorp DE has reduced its stake in Procter & Gamble by 3.5%, now holding approximately 3.91 million shares worth $666.5 million as of the latest SEC filing.
• Multiple institutional investors increased their positions in Procter & Gamble last quarter, with significant raises including 493.6% by Bank Pictet & Cie Europe AG.
• Procter & Gamble's recent earnings report showed a revenue increase of 1.7% year-over-year, with earnings per share of $1.48 exceeding analyst expectations.

US Bancorp DE decreased its holdings in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,910,882 shares of the company's stock after selling 142,476 shares during the period. Procter & Gamble makes up approximately 4.2% of US Bancorp DE's holdings, making the stock its 20th largest position. US Bancorp DE owned approximately 0.17% of Procter & Gamble worth $666,494,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PG. Brighton Jones LLC raised its position in Procter & Gamble by 51.5% during the 4th quarter. Brighton Jones LLC now owns 40,068 shares of the company's stock worth $6,717,000 after buying an additional 13,617 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Procter & Gamble by 493.6% during the fourth 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. Massachusetts Financial Services Co. MA lifted its position in Procter & Gamble by 3.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,139,026 shares of the company's stock valued at $190,958,000 after purchasing an additional 40,080 shares during the period. Nottingham Advisors Inc. boosted its holdings in Procter & Gamble by 11.6% in the 4th quarter. Nottingham Advisors Inc. now owns 3,365 shares of the company's stock valued at $564,000 after purchasing an additional 351 shares in the last quarter. Finally, Disciplined Investors L.L.C. acquired a new position in Procter & Gamble during the 4th quarter worth approximately $628,000. Hedge funds and other institutional investors own 65.77% of the company's stock.

Insider Activity

In other news, insider Moses Victor Javier Aguilar sold 10,520 shares of Procter & Gamble stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the sale, the insider directly owned 25,182 shares in the company, valued at $3,995,627.94. The trade was a 29.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PG. Redburn Atlantic cut Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price target for the company. in a report on Thursday, May 1st. Evercore ISI reiterated an "in-line" rating and issued a $170.00 price objective (down previously from $190.00) on shares of Procter & Gamble in a research report on Monday, July 14th. Wells Fargo & Company decreased their target price on shares of Procter & Gamble from $175.00 to $173.00 and set an "overweight" rating on the stock in a research report on Wednesday. Piper Sandler upped their price target on shares of Procter & Gamble from $160.00 to $164.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Finally, Truist Financial reduced their price objective on shares of Procter & Gamble from $185.00 to $180.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Procter & Gamble presently has a consensus rating of "Moderate Buy" and an average target price of $175.88.

Procter & Gamble Trading Down 1.7%

Shares of Procter & Gamble stock opened at $150.30 on Friday. Procter & Gamble Company has a 1 year low of $149.91 and a 1 year high of $180.43. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.70 and a quick ratio of 0.50. The business has a 50 day moving average price of $160.13 and a 200 day moving average price of $164.05. The company has a market capitalization of $352.38 billion, a P/E ratio of 23.09, a P/E/G ratio of 4.27 and a beta of 0.40.

Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.06. Procter & Gamble had a return on equity of 32.56% and a net margin of 18.95%. The company had revenue of $20.89 billion during the quarter, compared to analysts' expectations of $20.79 billion. During the same period in the previous year, the firm posted $1.40 earnings per share. The business's revenue for the quarter was up 1.7% compared to the same quarter last year. Sell-side analysts anticipate that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be paid a dividend of $1.0568 per share. This represents a $4.23 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, July 18th. Procter & Gamble's dividend payout ratio (DPR) is currently 67.14%.

About Procter & Gamble

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.

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