Bank of Nova Scotia Sells 137,803 Shares of The Procter & Gamble Company (NYSE:PG)

Bank of Nova Scotia reduced its stake in The Procter & Gamble Company (NYSE:PG - Free Report) by 14.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 822,127 shares of the company's stock after selling 137,803 shares during the quarter. Bank of Nova Scotia's holdings in Procter & Gamble were worth $137,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Berkshire Asset Management LLC PA raised its holdings in shares of Procter & Gamble by 0.9% during the 4th quarter. Berkshire Asset Management LLC PA now owns 236,616 shares of the company's stock valued at $38,833,000 after buying an additional 2,179 shares in the last quarter. Strategic Advisors LLC raised its stake in shares of Procter & Gamble by 3.4% during the fourth quarter. Strategic Advisors LLC now owns 55,912 shares of the company's stock worth $9,374,000 after acquiring an additional 1,818 shares in the last quarter. Copley Financial Group Inc. bought a new stake in shares of Procter & Gamble in the 3rd quarter worth approximately $668,000. Fortem Financial Group LLC purchased a new stake in shares of Procter & Gamble in the 4th quarter valued at $569,000. Finally, Richard C. Young & CO. LTD. grew its holdings in shares of Procter & Gamble by 2.1% during the 4th quarter. Richard C. Young & CO. LTD. now owns 123,853 shares of the company's stock valued at $20,764,000 after purchasing an additional 2,568 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Stock Up 2.1 %

Shares of NYSE PG traded up $3.40 on Friday, reaching $166.96. 8,602,709 shares of the company's stock traded hands, compared to its average volume of 7,038,790. 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 business's 50 day simple moving average is $168.35 and its two-hundred day simple moving average is $168.62. The Procter & Gamble Company has a 12 month low of $153.52 and a 12 month high of $180.43. The company has a market cap of $391.50 billion, a price-to-earnings ratio of 26.59, a price-to-earnings-growth ratio of 3.76 and a beta of 0.43.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $21.66 billion. During the same period last year, the business posted $1.84 EPS. The company's revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, April 21st will be issued a dividend of $1.0568 per share. This represents a $4.23 annualized dividend and a dividend yield of 2.53%. This is a boost from Procter & Gamble's previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Monday, April 21st. Procter & Gamble's payout ratio is presently 67.20%.

Insider Activity at Procter & Gamble

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Truist Financial boosted their price target on shares of Procter & Gamble from $180.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday, April 3rd. JPMorgan Chase & Co. dropped their target price on Procter & Gamble from $181.00 to $172.00 and set an "overweight" rating for the company in a report on Friday. Piper Sandler lowered their price objective on Procter & Gamble from $173.00 to $172.00 and set a "neutral" rating for the company in a research report on Monday, February 24th. Erste Group Bank upgraded shares of Procter & Gamble from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $164.00 price target on shares of Procter & Gamble in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $181.50.

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.