Zions Bancorporation National Association UT Takes $1.73 Million Position in Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Zions Bancorporation National Association UT invested approximately $1.73 million in Procter & Gamble by acquiring 10,154 shares in the first quarter.
• Procter & Gamble's quarterly earnings exceeded analysts' expectations, with reported EPS of $1.48 against a consensus of $1.42, and revenue of $20.89 billion.
• The company announced a quarterly dividend of $1.0568 per share, yielding 2.8%, which will be paid on August 15th to shareholders of record on July 18th.

Zions Bancorporation National Association UT purchased a new position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,154 shares of the company's stock, valued at approximately $1,730,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Navigoe LLC purchased a new stake in shares of Procter & Gamble during the fourth quarter worth approximately $31,000. Capital A Wealth Management LLC acquired a new stake in shares of Procter & Gamble in the fourth quarter valued at approximately $31,000. 10Elms LLP acquired a new stake in shares of Procter & Gamble during the fourth quarter worth $34,000. Sunbeam Capital Management LLC acquired a new stake in shares of Procter & Gamble during the fourth quarter worth $34,000. Finally, Mizuho Securities Co. Ltd. lifted its holdings 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 purchasing an additional 170 shares during the period. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PG shares. Erste Group Bank cut Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Raymond James Financial dropped their price target on Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Redburn Atlantic lowered Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price objective on the stock. in a research note on Thursday, May 1st. Barclays set a $164.00 price target on Procter & Gamble and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Finally, Bank of America decreased their price target on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $175.88.

Procter & Gamble Stock Up 1.0%

Shares of NYSE:PG traded up $1.52 during mid-day trading on Monday, hitting $155.03. 7,327,441 shares of the company traded hands, compared to its average volume of 7,956,396. The firm has a market cap of $363.13 billion, a P/E ratio of 23.81, a PEG ratio of 4.05 and a beta of 0.37. 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 Company has a 52-week low of $149.91 and a 52-week high of $180.43. The firm's 50 day simple moving average is $158.01 and its 200 day simple moving average is $163.60.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 in the prior year, the company posted $1.40 EPS. Procter & Gamble's quarterly revenue was up 1.7% on a year-over-year basis. On average, equities analysts anticipate that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Announces Dividend

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