Red Cedar Investment Management LLC Purchases 3,073 Shares of The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Apr 9th, 2023

Red Cedar Investment Management LLC boosted its stake in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 64.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,810 shares of the company’s stock after acquiring an additional 3,073 shares during the quarter. Red Cedar Investment Management LLC’s holdings in Procter & Gamble were worth $1,184,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Procter & Gamble by 1.0% during the 3rd 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 during the period. BlackRock Inc. increased its stake in shares of Procter & Gamble by 1.1% in the 3rd quarter. BlackRock Inc. now owns 161,904,833 shares of the company’s stock valued at $20,440,487,000 after acquiring an additional 1,811,085 shares during the last quarter. State Street Corp increased its stake in Procter & Gamble by 0.8% in the third quarter. State Street Corp now owns 104,749,256 shares of the company’s stock valued at $13,224,594,000 after purchasing an additional 797,652 shares in the last quarter. Legal & General Group Plc raised its holdings in Procter & Gamble by 3.6% in the second quarter. Legal & General Group Plc now owns 18,536,142 shares of the company’s stock worth $2,665,327,000 after purchasing an additional 637,095 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Procter & Gamble by 1.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 15,938,327 shares of the company’s stock worth $2,435,377,000 after purchasing an additional 228,272 shares in the last quarter. 62.13% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Procter & Gamble news, insider Susan Street Whaley sold 435 shares of the company’s stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $141.82, for a total value of $61,691.70. Following the completion of the transaction, the insider now owns 10,840 shares of the company’s stock, valued at approximately $1,537,328.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Procter & Gamble news, insider Susan Street Whaley sold 435 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $141.82, for a total transaction of $61,691.70. Following the completion of the transaction, the insider now owns 10,840 shares in the company, valued at approximately $1,537,328.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Andre Schulten sold 1,311 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total transaction of $180,052.74. Following the sale, the chief financial officer now owns 35,142 shares of the company’s stock, valued at $4,826,402.28. 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 ninety days. 0.26% of the stock is owned by insiders.

Procter & Gamble Stock Performance

Shares of PG opened at $152.22 on Friday. 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 12 month low of $122.18 and a 12 month high of $164.90. The firm has a fifty day simple moving average of $142.13 and a 200 day simple moving average of $141.63. The stock has a market capitalization of $359.11 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 4.25 and a beta of 0.41.

Procter & Gamble (NYSE:PG – Get Rating) last posted its earnings results on Thursday, January 19th. The company reported $1.59 earnings per share (EPS) for the quarter, topping 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 quarter last year, the company posted $1.66 EPS. Procter & Gamble’s quarterly revenue was down .9% compared to the same quarter last year. Research analysts forecast that The Procter & Gamble Company will post 5.84 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently commented on PG shares. Stifel Nicolaus upped their price objective on shares of Procter & Gamble from $139.00 to $147.00 and gave the company a “hold” rating in a research report on Friday, January 20th. Wells Fargo & Company lowered their price target on Procter & Gamble from $168.00 to $162.00 and set an “overweight” rating for the company in a report on Friday, January 20th. UBS Group lifted their price objective on Procter & Gamble from $163.00 to $170.00 and gave the company a “buy” rating in a report on Thursday. Barclays lowered their target price on Procter & Gamble from $161.00 to $158.00 and set an “overweight” rating for the company in a research note on Monday, January 23rd. Finally, Citigroup assumed coverage on shares of Procter & Gamble in a report on Thursday, February 16th. They set a “buy” rating and a $160.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $155.73.

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.