Arrowstreet Capital Limited Partnership Reduces Holdings in The Procter & Gamble Company (NYSE:PG)

Arrowstreet Capital Limited Partnership lowered its position in The Procter & Gamble Company (NYSE:PG - Free Report) by 91.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 368,453 shares of the company's stock after selling 3,928,244 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in Procter & Gamble were worth $61,771,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PG. Lakeridge Wealth Management LLC raised its stake in shares of Procter & Gamble by 0.6% in the 4th quarter. Lakeridge Wealth Management LLC now owns 10,807 shares of the company's stock valued at $1,812,000 after acquiring an additional 60 shares during the period. Colton Groome Financial Advisors LLC grew its position in Procter & Gamble by 3.2% in the 4th quarter. Colton Groome Financial Advisors LLC now owns 1,995 shares of the company's stock valued at $334,000 after acquiring an additional 62 shares in the last quarter. Tevis Investment Management lifted its position in shares of Procter & Gamble by 0.6% during the fourth quarter. Tevis Investment Management now owns 11,633 shares of the company's stock worth $1,950,000 after purchasing an additional 65 shares in the last quarter. Dakota Community Bank & Trust NA boosted its stake in shares of Procter & Gamble by 3.3% in the fourth quarter. Dakota Community Bank & Trust NA now owns 2,078 shares of the company's stock valued at $348,000 after purchasing an additional 66 shares during the period. Finally, Alhambra Investment Management LLC grew its holdings in shares of Procter & Gamble by 1.2% in the fourth quarter. Alhambra Investment Management LLC now owns 5,785 shares of the company's stock valued at $970,000 after purchasing an additional 66 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Procter & Gamble Stock Performance

PG stock traded up $2.67 during trading on Thursday, hitting $172.17. The company had a trading volume of 9,389,195 shares, compared to its average volume of 6,919,778. The firm has a 50-day moving average price of $169.07 and a 200-day moving average price of $169.27. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. The firm has a market cap of $403.71 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a 1-year low of $153.52 and a 1-year high of $180.43.

Procter & Gamble (NYSE:PG - Get Free Report) last released its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $0.02. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The business had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21.66 billion. During the same quarter in the previous year, the company posted $1.84 earnings per share. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts expect that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were paid a dividend of $1.0065 per share. The ex-dividend date was Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.34%. Procter & Gamble's dividend payout ratio (DPR) is 64.01%.

Analyst Ratings Changes

Several brokerages have commented on PG. DA Davidson reissued a "buy" rating and issued a $209.00 price target on shares of Procter & Gamble in a research report on Thursday, January 23rd. UBS Group reiterated a "buy" rating on shares of Procter & Gamble in a research note on Monday, February 10th. Stifel Nicolaus upped their target price on shares of Procter & Gamble from $161.00 to $165.00 and gave the stock a "hold" rating in a research note on Thursday, January 23rd. Royal Bank of Canada restated a "sector perform" rating and issued a $164.00 price objective on shares of Procter & Gamble in a report on Thursday, January 23rd. Finally, Piper Sandler cut their target price on Procter & Gamble from $173.00 to $172.00 and set a "neutral" rating on the stock in a research report on Monday, February 24th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Procter & Gamble currently has an average rating of "Moderate Buy" and a consensus price target of $182.00.

Insider Activity at Procter & Gamble

In other news, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the completion of the sale, the insider now directly owns 172,814 shares in the company, valued at approximately $28,313,845.76. This trade represents a 34.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary A. Coombe sold 18,000 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total value of $3,089,880.00. Following the completion of the sale, the chief executive officer now owns 22,051 shares in the company, valued at approximately $3,785,274.66. This represents a 44.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 143,450 shares of company stock worth $23,988,008 over the last 90 days. Company insiders own 0.18% of the company's stock.

Procter & Gamble 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.