Cooper Financial Group Increases Stake in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Mar 23rd, 2023

Cooper Financial Group boosted its stake in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,492 shares of the company’s stock after purchasing an additional 239 shares during the period. Procter & Gamble comprises about 0.9% of Cooper Financial Group’s investment portfolio, making the stock its 21st biggest position. Cooper Financial Group’s holdings in Procter & Gamble were worth $3,106,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in PG. EWG Elevate Inc. bought a new stake in Procter & Gamble during the fourth quarter valued at about $26,000. Legend Financial Advisors Inc. purchased a new stake in shares of Procter & Gamble during the third quarter worth about $30,000. Belmont Capital LLC raised its stake in Procter & Gamble by 40.0% during the 3rd quarter. Belmont Capital LLC now owns 385 shares of the company’s stock valued at $49,000 after purchasing an additional 110 shares during the period. Align Wealth Management LLC purchased a new position in Procter & Gamble in the 4th quarter worth approximately $50,000. Finally, Horizons Wealth Management bought a new position in Procter & Gamble in the 2nd quarter worth approximately $52,000. 62.13% of the stock is currently owned by institutional investors.

Insider Activity at Procter & Gamble

In other news, insider Susan Street Whaley sold 709 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $137.34, for a total value of $97,374.06. Following the transaction, the insider now directly owns 10,198 shares in the company, valued at $1,400,593.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Procter & Gamble news, insider Susan Street Whaley sold 709 shares of the business’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $137.34, for a total value of $97,374.06. Following the completion of the sale, the insider now directly owns 10,198 shares of the company’s stock, valued at approximately $1,400,593.32. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jon R. Moeller sold 2,151 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The stock was 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 in the company, valued at $31,141,570.32. The disclosure for this sale can be found here. Insiders sold a total of 4,766 shares of company stock worth $656,511 in the last quarter. 0.26% of the stock is owned by company insiders.

Procter & Gamble Trading Down 0.1 %

Shares of PG opened at $143.99 on Thursday. The company’s fifty day simple moving average is $141.31 and its 200-day simple moving average is $140.77. The company has a market cap of $339.69 billion, a P/E ratio of 25.26, a P/E/G ratio of 4.05 and a beta of 0.40. The company has a current ratio of 0.56, a quick ratio of 0.37 and a debt-to-equity ratio of 0.47. The Procter & Gamble Company has a twelve month low of $122.18 and a twelve month high of $164.90.

Procter & Gamble (NYSE:PG – Get Rating) last issued its quarterly earnings results on Thursday, January 19th. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.58 by $0.01. The company had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $20.75 billion. Procter & Gamble had a net margin of 17.79% and a return on equity of 32.03%. The firm’s revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.66 EPS. As a group, analysts expect that The Procter & Gamble Company will post 5.84 EPS for the current year.

Procter & Gamble Announces Dividend

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 of this dividend was Thursday, January 19th. Procter & Gamble’s dividend payout ratio is currently 64.04%.

Analysts Set New Price Targets

Several equities analysts have recently commented on PG shares. JPMorgan Chase & Co. raised shares of Procter & Gamble from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $150.00 to $155.00 in a report on Friday, March 3rd. StockNews.com initiated coverage on shares of Procter & Gamble in a report on Thursday, March 16th. They set a “hold” rating for the company. Barclays reduced their target price on Procter & Gamble from $161.00 to $158.00 and set an “overweight” rating on the stock in a report on Monday, January 23rd. Raymond James increased their price target on Procter & Gamble from $165.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, January 13th. Finally, Wells Fargo & Company reduced their price objective on Procter & Gamble from $168.00 to $162.00 and set an “overweight” rating on the stock in a research note on Friday, January 20th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $155.27.

About Procter & Gamble

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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.