Triumph Capital Management Boosts Stake in The Procter & Gamble Company (NYSE:PG)

Posted by on Apr 16th, 2023

Triumph Capital Management grew its stake in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,051 shares of the company’s stock after buying an additional 371 shares during the quarter. Procter & Gamble accounts for 0.8% of Triumph Capital Management’s investment portfolio, making the stock its 25th biggest position. Triumph Capital Management’s holdings in Procter & Gamble were worth $1,523,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Procter & Gamble by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 224,570,227 shares of the company’s stock worth $28,351,991,000 after purchasing an additional 2,197,165 shares during the period. BlackRock Inc. raised its position 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 purchasing an additional 1,811,085 shares during the period. State Street Corp raised its position in Procter & Gamble by 0.8% in the 3rd quarter. State Street Corp now owns 104,749,256 shares of the company’s stock worth $13,224,594,000 after purchasing an additional 797,652 shares during the period. Charles Schwab Investment Management Inc. raised its position in Procter & Gamble by 1.5% in the 1st 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 during the period. Finally, California Public Employees Retirement System raised its position in Procter & Gamble by 3.9% in the 3rd quarter. California Public Employees Retirement System now owns 9,261,714 shares of the company’s stock worth $1,169,291,000 after purchasing an additional 344,629 shares during the period. Hedge funds and other institutional investors own 62.13% of the company’s stock.

Procter & Gamble Trading Down 0.5 %

Shares of PG opened at $151.00 on Friday. The firm’s 50-day moving average price is $143.01 and its 200-day moving average price is $142.19. The firm has a market capitalization of $356.23 billion, a price-to-earnings ratio of 26.49, a PEG ratio of 4.24 and a beta of 0.41. 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 1-year low of $122.18 and a 1-year high of $164.90.

Procter & Gamble (NYSE:PG – Get Rating) last posted its quarterly earnings data on Thursday, January 19th. The company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.58 by $0.01. Procter & Gamble had a net margin of 17.79% and a return on equity of 32.03%. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same quarter in the previous year, the firm posted $1.66 earnings per share. Procter & Gamble’s quarterly revenue was down .9% on a year-over-year basis. Sell-side analysts anticipate that The Procter & Gamble Company will post 5.84 EPS for the current year.

Procter & Gamble Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Barclays lifted their target price on shares of Procter & Gamble from $158.00 to $160.00 in a research report on Friday. UBS Group lifted their target price on shares of Procter & Gamble from $163.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. JPMorgan Chase & Co. raised shares of Procter & Gamble from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $150.00 to $155.00 in a report on Friday, March 3rd. Wells Fargo & Company cut their price target on shares of Procter & Gamble from $168.00 to $162.00 and set an “overweight” rating on the stock in a report on Friday, January 20th. Finally, Raymond James raised their price target on shares of Procter & Gamble from $165.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, January 13th. Four equities research 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $156.13.

Insider Buying and Selling

In related news, CEO Jon R. Moeller sold 2,151 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 $295,418.34. Following the sale, the chief executive officer now owns 226,748 shares of the company’s stock, valued at $31,141,570.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Jon R. Moeller sold 2,151 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 $295,418.34. Following the sale, the chief executive officer now owns 226,748 shares of the company’s stock, valued at $31,141,570.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Susan Street Whaley sold 709 shares of Procter & Gamble 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 completion of the transaction, the insider now directly owns 10,198 shares of the company’s stock, valued at $1,400,593.32. The disclosure for this sale can be found here. Insiders have sold 4,766 shares of company stock valued at $656,511 over the last quarter. Corporate insiders own 0.26% of the company’s stock.

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.

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

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