Crescent Grove Advisors LLC Has $2.49 Million Stock Position in The Procter & Gamble Company (NYSE:PG)

Posted by on Mar 22nd, 2023

Crescent Grove Advisors LLC cut its stake in The Procter & Gamble Company (NYSE:PG – Get Rating) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,449 shares of the company’s stock after selling 145 shares during the period. Crescent Grove Advisors LLC’s holdings in Procter & Gamble were worth $2,493,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Ledyard National Bank lifted its position in Procter & Gamble by 1.2% in the third quarter. Ledyard National Bank now owns 81,058 shares of the company’s stock worth $10,233,000 after purchasing an additional 961 shares during the period. Autumn Glory Partners LLC lifted its holdings in shares of Procter & Gamble by 38.9% during the 3rd quarter. Autumn Glory Partners LLC now owns 10,954 shares of the company’s stock worth $1,383,000 after acquiring an additional 3,070 shares during the period. Private Wealth Partners LLC boosted its position in shares of Procter & Gamble by 9.4% during the 3rd quarter. Private Wealth Partners LLC now owns 28,407 shares of the company’s stock valued at $3,586,000 after acquiring an additional 2,445 shares in the last quarter. Udine Wealth Management Inc. bought a new stake in Procter & Gamble in the third quarter valued at about $752,000. Finally, Virtus ETF Advisers LLC acquired a new position in Procter & Gamble in the second quarter worth about $665,000. 62.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PG. Jefferies Financial Group upped their price objective on Procter & Gamble from $149.00 to $164.00 in a research note on Tuesday, November 22nd. Wells Fargo & Company dropped their price objective on Procter & Gamble from $168.00 to $162.00 and set an “overweight” rating for the company in a research note on Friday, January 20th. UBS Group upgraded shares of Procter & Gamble from a “neutral” rating to a “buy” rating and boosted their target price for the company from $157.00 to $163.00 in a research note on Wednesday, March 1st. Stifel Nicolaus increased their target price on shares of Procter & Gamble from $139.00 to $147.00 and gave the stock a “hold” rating in a research report on Friday, January 20th. Finally, JPMorgan Chase & Co. upgraded shares of Procter & Gamble from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $150.00 to $155.00 in a research report on Friday, March 3rd. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $155.27.

Insider Activity at Procter & Gamble

In related news, CEO Jon R. Moeller sold 2,151 shares of the company’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total value of $295,418.34. Following the completion of the sale, the chief executive officer now owns 226,748 shares in the company, valued at $31,141,570.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jon R. Moeller sold 2,151 shares of Procter & Gamble stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $137.34, for a total transaction of $295,418.34. Following the transaction, the chief executive officer now directly owns 226,748 shares of the company’s stock, valued at $31,141,570.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Andre Schulten sold 1,311 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $137.34, for a total transaction of $180,052.74. Following the completion of the sale, the chief financial officer now owns 35,142 shares of the company’s stock, valued at approximately $4,826,402.28. The disclosure for this sale can be found here. Insiders have sold 4,766 shares of company stock worth $656,511 over the last ninety days. Company insiders own 0.26% of the company’s stock.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $144.08 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.56 and a quick ratio of 0.37. The firm has a 50 day simple moving average of $141.44 and a 200 day simple moving average of $140.74. The Procter & Gamble Company has a fifty-two week low of $122.18 and a fifty-two week high of $164.90. The firm has a market cap of $339.90 billion, a P/E ratio of 25.28, a P/E/G ratio of 3.99 and a beta of 0.40.

Procter & Gamble (NYSE:PG – Get Rating) last released its earnings results on Thursday, January 19th. The company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.01. The company had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $20.75 billion. Procter & Gamble had a return on equity of 32.03% and a net margin of 17.79%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.66 earnings per share. Sell-side analysts predict that The Procter & Gamble Company will post 5.84 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 15th. Investors of record on Friday, January 20th were paid a dividend of $0.9133 per share. This represents a $3.65 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Thursday, January 19th. Procter & Gamble’s dividend payout ratio (DPR) is 64.04%.

Procter & Gamble Company Profile

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Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & 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.

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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