Sumitomo Mitsui DS Asset Management Company Ltd Grows Stock Position in The Procter & Gamble Company (NYSE:PG)

Posted by on Apr 8th, 2023

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in The Procter & Gamble Company (NYSE:PG – Get Rating) by 6.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 355,316 shares of the company’s stock after buying an additional 21,195 shares during the quarter. Procter & Gamble makes up about 1.1% of Sumitomo Mitsui DS Asset Management Company Ltd’s holdings, making the stock its 18th largest position. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Procter & Gamble were worth $53,852,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PG. Vanguard Group Inc. raised its position in Procter & Gamble by 1.0% during the third quarter. Vanguard Group Inc. now owns 224,570,227 shares of the company’s stock valued at $28,351,991,000 after purchasing an additional 2,197,165 shares in the last quarter. BlackRock Inc. increased its holdings in Procter & Gamble by 1.1% during the 3rd quarter. BlackRock Inc. now owns 161,904,833 shares of the company’s stock valued at $20,440,487,000 after purchasing an additional 1,811,085 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Procter & Gamble by 108.5% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,339,628 shares of the company’s stock valued at $421,628,000 after purchasing an additional 1,737,742 shares during the period. Two Sigma Advisers LP boosted its position in Procter & Gamble by 431.3% during the 3rd quarter. Two Sigma Advisers LP now owns 1,542,800 shares of the company’s stock valued at $194,779,000 after acquiring an additional 1,252,400 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Procter & Gamble by 139.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,718,903 shares of the company’s stock valued at $260,517,000 after acquiring an additional 1,000,548 shares in the last quarter. 62.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PG. Wells Fargo & Company cut their price objective on Procter & Gamble from $168.00 to $162.00 and set an “overweight” rating on the stock in a research report on Friday, January 20th. Stifel Nicolaus boosted their price target on Procter & Gamble from $139.00 to $147.00 and gave the stock a “hold” rating in a research report on Friday, January 20th. JPMorgan Chase & Co. raised Procter & Gamble from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $150.00 to $155.00 in a research report on Friday, March 3rd. Raymond James boosted their price target on Procter & Gamble from $165.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, January 13th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Procter & Gamble from $162.00 to $156.00 in a report on Monday, March 20th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average price target of $155.73.

Insider Buying and Selling

In other Procter & Gamble news, insider Susan Street Whaley sold 709 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 value of $97,374.06. Following the completion of the transaction, the insider now owns 10,198 shares of the company’s stock, valued at $1,400,593.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Andre Schulten sold 1,311 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 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 $4,826,402.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Susan Street Whaley sold 709 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total transaction of $97,374.06. Following the transaction, the insider now owns 10,198 shares in the company, valued at $1,400,593.32. The disclosure for this sale can be found here. Insiders sold a total of 4,766 shares of company stock valued at $656,511 over the last 90 days. Insiders own 0.26% of the company’s stock.

Procter & Gamble Stock Performance

Shares of NYSE:PG opened at $152.22 on Friday. The firm has a market cap of $359.11 billion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 4.22 and a beta of 0.41. The firm’s 50 day simple moving average is $142.13 and its 200-day simple moving average is $141.60. The Procter & Gamble Company has a one year low of $122.18 and a one year high of $164.90. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.37 and a current ratio of 0.56.

Procter & Gamble (NYSE:PG – Get Rating) last announced its earnings results on Thursday, January 19th. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate 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 net margin of 17.79% and a return on equity of 32.03%. Procter & Gamble’s revenue was down .9% compared to the same quarter last year. During the same period last year, the firm earned $1.66 earnings per share. As a group, equities analysts predict that The Procter & Gamble Company will post 5.84 EPS for the current year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 15th. Stockholders of record on Friday, January 20th were paid a dividend of $0.9133 per share. The ex-dividend date of this dividend was Thursday, January 19th. This represents a $3.65 annualized dividend and a dividend yield of 2.40%. Procter & Gamble’s payout ratio is currently 64.04%.

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.

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

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