KFG Wealth Management LLC boosted its position in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 41.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,326 shares of the company’s stock after purchasing an additional 1,272 shares during the period. KFG Wealth Management LLC’s holdings in Procter & Gamble were worth $657,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Investment Advisory Services LLC grew its holdings in shares of Procter & Gamble by 4.9% during the 4th quarter. Capital Investment Advisory Services LLC now owns 36,681 shares of the company’s stock valued at $5,559,000 after acquiring an additional 1,711 shares in the last quarter. Deuterium Capital Management LLC acquired a new stake in shares of Procter & Gamble in the 4th quarter valued at $675,000. CX Institutional lifted its stake in shares of Procter & Gamble by 4.1% in the 4th quarter. CX Institutional now owns 33,743 shares of the company’s stock valued at $5,114,000 after purchasing an additional 1,320 shares during the last quarter. Oak Harbor Wealth Partners LLC lifted its stake in shares of Procter & Gamble by 11.1% in the 4th quarter. Oak Harbor Wealth Partners LLC now owns 30,891 shares of the company’s stock valued at $4,682,000 after purchasing an additional 3,089 shares during the last quarter. Finally, Blue Chip Partners LLC lifted its stake in shares of Procter & Gamble by 1.9% in the 4th quarter. Blue Chip Partners LLC now owns 21,503 shares of the company’s stock valued at $3,259,000 after purchasing an additional 409 shares during the last quarter. 64.65% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Procter & Gamble
In related news, COO Shailesh Jejurikar sold 31,000 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $156.03, for a total value of $4,836,930.00. Following the sale, the chief operating officer now owns 10,014 shares of the company’s stock, valued at $1,562,484.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Procter & Gamble news, insider Balaji Purushothaman sold 12,300 shares of the company’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $156.33, for a total transaction of $1,922,859.00. Following the sale, the insider now directly owns 13,001 shares of the company’s stock, valued at $2,032,446.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Shailesh Jejurikar sold 31,000 shares of the company’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $156.03, for a total transaction of $4,836,930.00. Following the sale, the chief operating officer now directly owns 10,014 shares in the company, valued at $1,562,484.42. The disclosure for this sale can be found here. Insiders have sold a total of 95,093 shares of company stock valued at $14,821,930 over the last quarter. 0.26% of the stock is owned by company insiders.
Procter & Gamble Stock Up 0.2 %
Procter & Gamble (NYSE:PG – Get Rating) last posted its earnings results on Friday, April 21st. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. The business had revenue of $20.07 billion for 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 firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 earnings per share. On average, equities research analysts expect that The Procter & Gamble Company will post 5.86 earnings per share for the current year.
Procter & Gamble Increases Dividend
The firm 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 boost from Procter & Gamble’s previous quarterly dividend of $0.91. Procter & Gamble’s payout ratio is presently 65.51%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Evercore ISI lifted their price objective on shares of Procter & Gamble from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Monday, April 24th. Truist Financial lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating and reduced their price objective for the company from $165.00 to $155.00 in a research note on Thursday, May 18th. Jefferies Financial Group boosted their target price on shares of Procter & Gamble from $171.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, April 24th. UBS Group boosted their target price on shares of Procter & Gamble from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, April 24th. Finally, Deutsche Bank Aktiengesellschaft boosted 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. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $161.50.
About Procter & Gamble
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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