Grimes & Company Inc. Lowers Stake in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Apr 7th, 2023

Grimes & Company Inc. lowered its holdings in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 1.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 27,329 shares of the company’s stock after selling 497 shares during the period. Grimes & Company Inc.’s holdings in Procter & Gamble were worth $4,142,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EWG Elevate Inc. bought a new position in shares of Procter & Gamble during the 4th quarter valued at $26,000. Legend Financial Advisors Inc. bought a new position in shares of Procter & Gamble during the 3rd quarter valued at $30,000. Bourgeon Capital Management LLC grew its holdings in Procter & Gamble by 39.9% in the 4th quarter. Bourgeon Capital Management LLC now owns 249 shares of the company’s stock worth $38,000 after acquiring an additional 71 shares during the last quarter. Belmont Capital LLC grew its holdings in Procter & Gamble by 40.0% in the 3rd quarter. Belmont Capital LLC now owns 385 shares of the company’s stock worth $49,000 after acquiring an additional 110 shares during the last quarter. Finally, Align Wealth Management LLC bought a new stake in Procter & Gamble in the 4th quarter worth $50,000. Institutional investors own 62.13% of the company’s stock.

Insiders Place Their Bets

In other Procter & Gamble news, insider Susan Street Whaley sold 709 shares of Procter & Gamble 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 transaction, the insider now directly owns 10,198 shares of the company’s stock, valued at $1,400,593.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Susan Street Whaley sold 709 shares of Procter & Gamble stock in a transaction that occurred on 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 in the company, valued at $1,400,593.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jon R. Moeller sold 2,151 shares of Procter & Gamble 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 completion of the sale, the chief executive officer now owns 226,748 shares of the company’s stock, valued at $31,141,570.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,766 shares of company stock valued at $656,511. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PG shares. Barclays cut their price target on shares of Procter & Gamble from $161.00 to $158.00 and set an “overweight” rating on the stock in a report on Monday, January 23rd. UBS Group raised shares of Procter & Gamble from a “neutral” rating to a “buy” rating and raised their price target for the stock from $157.00 to $163.00 in a report on Wednesday, March 1st. Citigroup assumed coverage on shares of Procter & Gamble in a report on Thursday, February 16th. They issued a “buy” rating and a $160.00 price target on the stock. Wells Fargo & Company cut their target price on shares of Procter & Gamble from $168.00 to $162.00 and set an “overweight” rating on the stock in a research note on Friday, January 20th. Finally, Raymond James lifted their target price on shares of Procter & Gamble from $165.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, January 13th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.27.

Procter & Gamble Trading Up 0.6 %

Shares of NYSE PG opened at $152.22 on Friday. The Procter & Gamble Company has a 1 year low of $122.18 and a 1 year high of $164.90. The stock has a market cap of $359.11 billion, a P/E ratio of 26.71, a price-to-earnings-growth ratio of 4.19 and a beta of 0.41. The firm has a 50-day moving average of $141.89 and a 200 day moving average of $141.51. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.56 and a quick ratio of 0.37.

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

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 15th. Shareholders of record on Friday, January 20th were issued a $0.9133 dividend. The ex-dividend date of this dividend was Thursday, January 19th. This represents a $3.65 annualized dividend and a yield of 2.40%. Procter & Gamble’s dividend payout ratio (DPR) is presently 64.04%.

Procter & Gamble Company Profile

(Get Rating)

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.