Exchange Traded Concepts LLC Grows Position in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jun 24th, 2023

Exchange Traded Concepts LLC grew its stake in The Procter & Gamble Company (NYSE:PG – Get Rating) by 11.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,821 shares of the company’s stock after purchasing an additional 5,546 shares during the period. Exchange Traded Concepts LLC’s holdings in Procter & Gamble were worth $8,003,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Keystone Wealth Services LLC grew its stake in Procter & Gamble by 2.7% during the 1st quarter. Keystone Wealth Services LLC now owns 2,562 shares of the company’s stock worth $381,000 after buying an additional 67 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in Procter & Gamble by 1.8% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,824 shares of the company’s stock worth $580,000 after purchasing an additional 69 shares during the last quarter. Calton & Associates Inc. grew its position in Procter & Gamble by 2.0% during the 4th quarter. Calton & Associates Inc. now owns 3,536 shares of the company’s stock worth $536,000 after purchasing an additional 71 shares during the last quarter. Bourgeon Capital Management LLC grew its position in Procter & Gamble by 39.9% during the 4th quarter. Bourgeon Capital Management LLC now owns 249 shares of the company’s stock worth $38,000 after purchasing an additional 71 shares during the last quarter. Finally, Atticus Wealth Management LLC grew its position in Procter & Gamble by 0.8% during the 4th quarter. Atticus Wealth Management LLC now owns 8,751 shares of the company’s stock worth $1,326,000 after purchasing an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Wall Street Analyst Weigh In

PG has been the topic of several analyst reports. Truist Financial downgraded Procter & Gamble from a “buy” rating to a “hold” rating and lowered their target price for the company from $165.00 to $155.00 in a research note on Thursday, May 18th. Raymond James lifted their target price on Procter & Gamble from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Sunday, April 23rd. Barclays lifted their target price on Procter & Gamble from $160.00 to $167.00 in a research note on Wednesday, April 26th. Morgan Stanley lifted their target price on shares of Procter & Gamble from $160.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, April 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Procter & Gamble from $160.00 to $170.00 and gave the company a “buy” rating in a report on Monday, April 24th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $161.50.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 8,000 shares of the company’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $156.84, for a total value of $1,254,720.00. Following the transaction, the chief executive officer now directly owns 9,343 shares in the company, valued at approximately $1,465,356.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 8,000 shares of the stock in a transaction on Monday, April 24th. The stock was sold at an average price of $156.84, for a total transaction of $1,254,720.00. Following the transaction, the chief executive officer now owns 9,343 shares of the company’s stock, valued at approximately $1,465,356.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Shailesh Jejurikar sold 31,000 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $156.03, for a total value of $4,836,930.00. Following the transaction, the chief operating officer now directly owns 10,014 shares in the company, valued at approximately $1,562,484.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,093 shares of company stock worth $14,821,930. Corporate insiders own 0.26% of the company’s stock.

Procter & Gamble Stock Performance

Shares of PG opened at $148.46 on Friday. The Procter & Gamble Company has a 12-month low of $122.18 and a 12-month high of $158.11. The stock has a market cap of $349.90 billion, a P/E ratio of 25.86, a PEG ratio of 4.16 and a beta of 0.41. 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 company has a 50-day moving average of $150.63 and a two-hundred day moving average of $147.42.

Procter & Gamble (NYSE:PG – Get Rating) last posted its earnings results 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. Procter & Gamble had a return on equity of 32.18% and a net margin of 17.69%. The firm had revenue of $20.07 billion for the quarter, compared to analyst estimates of $19.32 billion. During the same quarter in the prior year, the company earned $1.33 EPS. Procter & Gamble’s revenue was up 3.5% on a year-over-year basis. As a group, research analysts predict that The Procter & Gamble Company will post 5.86 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, April 21st were paid a $0.9407 dividend. The ex-dividend date was Thursday, April 20th. This represents a $3.76 dividend on an annualized basis and a yield of 2.53%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.91. Procter & Gamble’s dividend payout ratio is presently 65.51%.

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.