Sumitomo Mitsui Trust Holdings Inc. Decreases Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Apr 13th, 2023

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,225,245 shares of the company’s stock after selling 105,909 shares during the quarter. Procter & Gamble comprises about 0.9% of Sumitomo Mitsui Trust Holdings Inc.’s investment portfolio, making the stock its 13th largest holding. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.31% of Procter & Gamble worth $1,095,058,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of 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 acquiring an additional 2,197,165 shares in the last quarter. BlackRock Inc. increased its holdings in Procter & Gamble by 1.1% in the 3rd quarter. BlackRock Inc. now owns 161,904,833 shares of the company’s stock worth $20,440,487,000 after buying 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% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,339,628 shares of the company’s stock worth $421,628,000 after buying an additional 1,737,742 shares during the period. Two Sigma Advisers LP increased its holdings in Procter & Gamble by 431.3% in the 3rd quarter. Two Sigma Advisers LP now owns 1,542,800 shares of the company’s stock worth $194,779,000 after buying an additional 1,252,400 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Procter & Gamble by 139.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,718,903 shares of the company’s stock worth $260,517,000 after buying an additional 1,000,548 shares during the period. 62.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Jon R. Moeller sold 2,151 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total value of $295,418.34. Following the transaction, the chief executive officer now owns 226,748 shares in the company, valued at approximately $31,141,570.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Susan Street Whaley sold 709 shares of Procter & Gamble stock in a transaction on 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 approximately $1,400,593.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jon R. Moeller sold 2,151 shares of Procter & Gamble stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total value of $295,418.34. Following the transaction, the chief executive officer now owns 226,748 shares in the company, valued at approximately $31,141,570.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,766 shares of company stock worth $656,511. Corporate insiders own 0.26% of the company’s stock.

Procter & Gamble Trading Up 0.3 %

Shares of NYSE:PG opened at $151.07 on Thursday. The Procter & Gamble Company has a 1 year low of $122.18 and a 1 year high of $164.90. The firm has a market capitalization of $356.40 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 4.21 and a beta of 0.41. 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 business’s 50 day moving average price is $142.49 and its 200-day moving average price is $141.89.

Procter & Gamble (NYSE:PG – Get Rating) last announced its 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. The firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $20.75 billion. Procter & Gamble had a return on equity of 32.03% and a net margin of 17.79%. The business’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm posted $1.66 EPS. On average, equities research analysts forecast that The Procter & Gamble Company will post 5.84 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 21st will be issued a $0.9407 dividend. The ex-dividend date is Thursday, April 20th. This represents a $3.76 dividend on an annualized basis and a yield of 2.49%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.91. Procter & Gamble’s dividend payout ratio (DPR) is presently 64.04%.

Wall Street Analysts Forecast Growth

PG has been the topic of several research reports. StockNews.com began coverage on shares of Procter & Gamble in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Wells Fargo & Company dropped their price objective 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. Raymond James raised their price objective on shares of Procter & Gamble from $165.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, January 13th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Procter & Gamble from $156.00 to $160.00 in a research note on Monday. Finally, Barclays dropped their price objective on shares of Procter & Gamble from $161.00 to $158.00 and set an “overweight” rating on the stock in a research note on Monday, January 23rd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $156.00.

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.