Principal Street Partners LLC boosted its stake in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 79.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,040 shares of the company's stock after buying an additional 3,110 shares during the quarter. Principal Street Partners LLC's holdings in Procter & Gamble were worth $1,164,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of PG. China Universal Asset Management Co. Ltd. lifted its stake in shares of Procter & Gamble by 5.5% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 32,001 shares of the company's stock valued at $5,192,000 after purchasing an additional 1,657 shares during the period. Quent Capital LLC lifted its stake in shares of Procter & Gamble by 2.0% in the 1st quarter. Quent Capital LLC now owns 10,684 shares of the company's stock valued at $1,733,000 after purchasing an additional 206 shares during the period. Creekmur Asset Management LLC lifted its stake in shares of Procter & Gamble by 54.3% in the 1st quarter. Creekmur Asset Management LLC now owns 6,792 shares of the company's stock valued at $1,102,000 after purchasing an additional 2,391 shares during the period. Tidal Investments LLC lifted its stake in shares of Procter & Gamble by 5.6% in the 1st quarter. Tidal Investments LLC now owns 110,747 shares of the company's stock valued at $17,971,000 after purchasing an additional 5,913 shares during the period. Finally, Coppell Advisory Solutions Corp. acquired a new position in shares of Procter & Gamble in the 1st quarter valued at about $3,771,000. 65.77% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on PG. Evercore ISI upped their price target on Procter & Gamble from $180.00 to $183.00 and gave the stock an "outperform" rating in a research note on Monday, October 21st. Piper Sandler began coverage on Procter & Gamble in a research note on Tuesday, September 24th. They set a "neutral" rating and a $174.00 price target on the stock. Wolfe Research raised Procter & Gamble to a "strong-buy" rating in a research note on Friday, August 23rd. StockNews.com downgraded Procter & Gamble from a "buy" rating to a "hold" rating in a research note on Thursday, August 1st. Finally, Morgan Stanley upped their price target on Procter & Gamble from $174.00 to $191.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $180.45.
Check Out Our Latest Stock Report on PG
Insider Activity at Procter & Gamble
In related news, insider Susan Street Whaley sold 634 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total value of $108,826.10. Following the transaction, the insider now owns 19,341 shares in the company, valued at approximately $3,319,882.65. This represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jon R. Moeller sold 37,240 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total value of $6,289,463.60. Following the sale, the chief executive officer now owns 263,537 shares in the company, valued at approximately $44,508,763.93. This represents a 12.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,473 shares of company stock worth $12,313,697. Insiders own 0.18% of the company's stock.
Procter & Gamble Stock Performance
Shares of PG stock traded up $1.92 during trading on Tuesday, hitting $179.31. The company's stock had a trading volume of 6,276,721 shares, compared to its average volume of 6,743,191. The company has a market cap of $422.28 billion, a PE ratio of 30.92, a P/E/G ratio of 3.81 and a beta of 0.42. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The business has a fifty day moving average of $170.11 and a 200-day moving average of $168.83. The Procter & Gamble Company has a 52 week low of $142.50 and a 52 week high of $179.46.
Procter & Gamble (NYSE:PG - Get Free Report) last released its earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.03. The company had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. Procter & Gamble's quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company posted $1.83 earnings per share. As a group, research analysts anticipate that The Procter & Gamble Company will post 6.94 earnings per share for the current year.
Procter & Gamble Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were issued a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Friday, October 18th. Procter & Gamble's dividend payout ratio is presently 69.31%.
About Procter & Gamble
(
Free Report)
The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, SK-II, and Native brands.
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