Procyon Advisors LLC trimmed its holdings in The Procter & Gamble Company (NYSE:PG - Free Report) by 6.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,359 shares of the company's stock after selling 4,693 shares during the quarter. Procyon Advisors LLC's holdings in Procter & Gamble were worth $10,790,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in PG. Fiera Capital Corp lifted its holdings in Procter & Gamble by 1,135.1% in the second quarter. Fiera Capital Corp now owns 20,688 shares of the company's stock valued at $3,412,000 after acquiring an additional 19,013 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Procter & Gamble in the 2nd quarter valued at $36,000. Cowa LLC grew its holdings in shares of Procter & Gamble by 8.2% during the 2nd quarter. Cowa LLC now owns 2,646 shares of the company's stock worth $436,000 after purchasing an additional 200 shares during the period. Brighton Jones LLC increased its position in shares of Procter & Gamble by 3.0% during the 2nd quarter. Brighton Jones LLC now owns 29,006 shares of the company's stock worth $4,784,000 after purchasing an additional 838 shares during the last quarter. Finally, Ieq Capital LLC raised its holdings in Procter & Gamble by 13.2% in the 2nd quarter. Ieq Capital LLC now owns 131,962 shares of the company's stock valued at $21,763,000 after buying an additional 15,337 shares during the period. 65.77% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on PG shares. Evercore ISI increased their price objective on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an "outperform" rating in a research report on Monday, October 21st. Morgan Stanley upped their target price on shares of Procter & Gamble from $174.00 to $191.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. Royal Bank of Canada reiterated a "sector perform" rating and issued a $164.00 price target on shares of Procter & Gamble in a research note on Monday, October 21st. UBS Group dropped their price objective on shares of Procter & Gamble from $196.00 to $189.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Piper Sandler assumed coverage on Procter & Gamble in a research report on Tuesday, September 24th. They set a "neutral" rating and a $174.00 target price on the stock. Eight research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Procter & Gamble has a consensus rating of "Moderate Buy" and a consensus target price of $179.65.
Read Our Latest Research Report on PG
Procter & Gamble Stock Performance
Shares of NYSE:PG traded up $0.85 during midday trading on Friday, hitting $161.35. The stock had a trading volume of 7,218,206 shares, compared to its average volume of 5,628,331. The company has a market capitalization of $379.98 billion, a PE ratio of 27.82, a P/E/G ratio of 3.41 and a beta of 0.45. The Procter & Gamble Company has a 1 year low of $146.28 and a 1 year high of $180.43. The stock has a 50 day moving average price of $169.19 and a two-hundred day moving average price of $169.38. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.
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, topping the consensus estimate of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company had revenue of $21.74 billion for the quarter, compared to analysts' expectations of $21.99 billion. During the same quarter in the previous year, the firm posted $1.83 EPS. The firm's quarterly revenue was down .6% on a year-over-year basis. As a group, equities analysts predict that The Procter & Gamble Company will post 6.93 earnings per share for the current fiscal year.
Procter & Gamble Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 24th will be issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Friday, January 24th. Procter & Gamble's dividend payout ratio is currently 69.48%.
Insider Transactions at Procter & Gamble
In other news, CEO R. Alexandra Keith sold 1,992 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total value of $338,640.00. Following the sale, the chief executive officer now directly owns 13,783 shares in the company, valued at $2,343,110. This represents a 12.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total value of $2,163,072.00. Following the transaction, the insider now owns 11,566 shares of the company's stock, valued at $1,954,538.34. This represents a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 75,439 shares of company stock valued at $13,317,460 in the last quarter. 0.18% of the stock is currently owned by corporate insiders.
About Procter & Gamble
(
Free Report)
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.
Recommended Stories
Before you consider Procter & Gamble, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Procter & Gamble wasn't on the list.
While Procter & Gamble currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Click the link below to learn more about using beta to protect yourself.
Get This Free Report
