ExodusPoint Capital Management LP Cuts Stake in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jun 8th, 2023

ExodusPoint Capital Management LP lessened its stake in The Procter & Gamble Company (NYSE:PG – Get Rating) by 71.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,318 shares of the company’s stock after selling 44,331 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Procter & Gamble were worth $2,625,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Procter & Gamble by 1.0% in 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 during the period. BlackRock Inc. increased its stake in Procter & Gamble by 1.1% during the third 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 last quarter. Two Sigma Advisers LP grew its position in shares of Procter & Gamble by 431.3% during the third quarter. Two Sigma Advisers LP now owns 1,542,800 shares of the company’s stock worth $194,779,000 after acquiring an additional 1,252,400 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Procter & Gamble by 139.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,718,903 shares of the company’s stock worth $260,517,000 after acquiring an additional 1,000,548 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in Procter & Gamble by 109.6% in the third quarter. Two Sigma Investments LP now owns 1,855,919 shares of the company’s stock worth $234,310,000 after purchasing an additional 970,614 shares during the period. 62.13% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Stock Up 0.2 %

PG opened at $144.80 on Thursday. The Procter & Gamble Company has a 1-year low of $122.18 and a 1-year high of $158.11. The company has a current ratio of 0.59, a quick ratio of 0.39 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $341.29 billion, a price-to-earnings ratio of 25.23, a P/E/G ratio of 4.02 and a beta of 0.41. The business has a 50 day moving average of $151.30 and a 200-day moving average of $147.38.

Procter & Gamble (NYSE:PG – Get Rating) last posted its quarterly earnings data on Friday, April 21st. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.05. Procter & Gamble had a return on equity of 32.18% and a net margin of 17.69%. The company had revenue of $20.07 billion during the quarter, compared to analysts’ expectations of $19.32 billion. During the same period in the prior year, the business earned $1.33 earnings per share. Procter & Gamble’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Procter & Gamble Company will post 5.86 earnings per share for the current year.

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, April 21st were given a $0.9407 dividend. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.91. This represents a $3.76 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend was Thursday, April 20th. Procter & Gamble’s dividend payout ratio (DPR) is 65.51%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PG shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Procter & Gamble from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, April 24th. JPMorgan Chase & Co. upgraded Procter & Gamble from a “neutral” rating to an “overweight” rating and upped their target price for the company from $150.00 to $155.00 in a report on Friday, March 3rd. Raymond James increased their price objective on Procter & Gamble from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Sunday, April 23rd. Jefferies Financial Group increased their price objective on Procter & Gamble from $171.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, April 24th. Finally, Citigroup assumed coverage on Procter & Gamble in a report on Thursday, February 16th. They issued a “buy” rating and a $160.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $161.50.

Insider Buying and Selling

In other Procter & Gamble news, CFO Andre Schulten sold 25,244 shares of the stock in a transaction on Monday, April 24th. The stock was sold at an average price of $155.27, for a total transaction of $3,919,635.88. Following the completion of the transaction, the chief financial officer now directly owns 27,118 shares in the company, valued at $4,210,611.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Susan Street Whaley sold 4,852 shares of the firm’s stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $155.47, for a total value of $754,340.44. Following the completion of the sale, the insider now directly owns 7,977 shares in the company, valued at $1,240,184.19. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Andre Schulten sold 25,244 shares of the firm’s stock in a transaction on Monday, April 24th. The shares were sold at an average price of $155.27, for a total value of $3,919,635.88. Following the completion of the sale, the chief financial officer now owns 27,118 shares of the company’s stock, valued at $4,210,611.86. The disclosure for this sale can be found here. Insiders sold a total of 95,093 shares of company stock valued at $14,821,930 over the last ninety days. 0.26% of the stock is owned by company insiders.

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.