Procyon Advisors LLC Increases Holdings in The Procter & Gamble Company (NYSE:PG)

Posted by on Jun 21st, 2023

Procyon Advisors LLC increased its holdings in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 5.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,378 shares of the company’s stock after purchasing an additional 1,539 shares during the period. Procyon Advisors LLC’s holdings in Procter & Gamble were worth $4,666,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. EWG Elevate Inc. acquired a new stake in shares of Procter & Gamble in the 4th quarter valued at about $26,000. Silicon Valley Capital Partners acquired a new stake in shares of Procter & Gamble in the 4th quarter valued at about $28,000. Legend Financial Advisors Inc. acquired a new stake in shares of Procter & Gamble in the 3rd quarter valued at about $30,000. Luken Investment Analytics LLC acquired a new stake in Procter & Gamble during the fourth quarter worth about $37,000. Finally, Bourgeon Capital Management LLC raised its stake in Procter & Gamble by 39.9% during the fourth quarter. Bourgeon Capital Management LLC now owns 249 shares of the company’s stock worth $38,000 after acquiring an additional 71 shares during the period. 64.65% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Stock Down 0.9 %

Shares of NYSE:PG opened at $148.16 on Wednesday. The Procter & Gamble Company has a one year low of $122.18 and a one year high of $158.11. The company has a 50 day moving average of $150.75 and a 200-day moving average of $147.39. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.59 and a quick ratio of 0.39. The stock has a market cap of $349.21 billion, a price-to-earnings ratio of 25.81, a P/E/G ratio of 4.16 and a beta of 0.41.

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

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, April 21st were issued a dividend of $0.9407 per share. The ex-dividend date of this dividend was Thursday, April 20th. This represents a $3.76 dividend on an annualized basis and a yield of 2.54%. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.91. Procter & Gamble’s payout ratio is currently 65.51%.

Insider Activity at Procter & Gamble

In related news, CAO Matthew W. Janzaruk sold 13,697 shares of the business’s stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $155.76, for a total transaction of $2,133,444.72. Following the completion of the transaction, the chief accounting officer now owns 883 shares in the company, valued at $137,536.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Procter & Gamble news, CAO Matthew W. Janzaruk sold 13,697 shares of the company’s stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $155.76, for a total value of $2,133,444.72. Following the transaction, the chief accounting officer now directly owns 883 shares in the company, valued at $137,536.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Shailesh Jejurikar sold 31,000 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $156.03, for a total transaction of $4,836,930.00. Following the completion of the transaction, the chief operating officer now owns 10,014 shares in the company, valued at $1,562,484.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,093 shares of company stock worth $14,821,930. 0.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on PG. Deutsche Bank Aktiengesellschaft upped their target price on shares of Procter & Gamble from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, April 24th. JPMorgan Chase & Co. upgraded shares of Procter & Gamble from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $150.00 to $155.00 in a research report on Friday, March 3rd. Truist Financial cut shares of Procter & Gamble from a “buy” rating to a “hold” rating and decreased their target price for the stock from $165.00 to $155.00 in a research report on Thursday, May 18th. UBS Group increased their price objective on shares of Procter & Gamble from $170.00 to $180.00 and gave the company a “buy” rating in a report on Monday, April 24th. Finally, Royal Bank of Canada increased their price objective on shares of Procter & Gamble from $160.00 to $165.00 and gave the company a “sector perform” rating in a report on Monday, April 24th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $161.50.

Procter & Gamble Profile

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The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.

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

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