Stonnington Group LLC Lowers Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jun 28th, 2023

Stonnington Group LLC lowered its holdings in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 6.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,130 shares of the company’s stock after selling 1,853 shares during the quarter. Procter & Gamble makes up 1.0% of Stonnington Group LLC’s holdings, making the stock its 21st largest position. Stonnington Group LLC’s holdings in Procter & Gamble were worth $3,814,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Procter & Gamble by 1.0% during the third 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 in the last quarter. State Street Corp lifted its position in shares of Procter & Gamble by 0.8% in the third quarter. State Street Corp now owns 104,749,256 shares of the company’s stock valued at $13,224,594,000 after acquiring an additional 797,652 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Procter & Gamble by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 46,243,572 shares of the company’s stock valued at $6,997,559,000 after acquiring an additional 323,292 shares in the last quarter. Morgan Stanley lifted its position in shares of Procter & Gamble by 12.6% in the fourth quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock valued at $6,717,246,000 after acquiring an additional 4,959,527 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its position in shares of Procter & Gamble by 96,526.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 38,535,557 shares of the company’s stock valued at $5,840,449,000 after acquiring an additional 38,495,676 shares in the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Wall Street Analysts Forecast Growth

PG has been the topic of several research reports. UBS Group raised their target price on Procter & Gamble from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, April 24th. Deutsche Bank Aktiengesellschaft raised their target price on Procter & Gamble from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, April 24th. Jefferies Financial Group lifted their price objective on Procter & Gamble from $171.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, April 24th. JPMorgan Chase & Co. upgraded Procter & Gamble from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $150.00 to $155.00 in a research report on Friday, March 3rd. Finally, Truist Financial downgraded Procter & Gamble from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $165.00 to $155.00 in a research report on Thursday, May 18th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $161.50.

Insider Activity

In other news, insider Susan Street Whaley sold 4,852 shares of Procter & Gamble 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 of the company’s stock, valued at $1,240,184.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Susan Street Whaley sold 4,852 shares of Procter & Gamble 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 transaction, the insider now directly owns 7,977 shares in the company, valued at $1,240,184.19. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Shailesh Jejurikar sold 31,000 shares of Procter & Gamble stock in a transaction on 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 completion of the transaction, the chief operating officer now owns 10,014 shares of the company’s stock, valued at $1,562,484.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,093 shares of company stock valued at $14,821,930. 0.26% of the stock is currently owned by corporate insiders.

Procter & Gamble Price Performance

PG stock opened at $150.02 on Wednesday. The Procter & Gamble Company has a 52-week low of $122.18 and a 52-week high of $158.11. The company has a quick ratio of 0.39, a current ratio of 0.59 and a debt-to-equity ratio of 0.51. The business has a fifty day moving average of $150.56 and a two-hundred day moving average of $147.36. The stock has a market cap of $353.59 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 4.13 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 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 business had revenue of $20.07 billion during the quarter, compared to analysts’ expectations of $19.32 billion. During the same period in the previous year, the firm posted $1.33 earnings per share. The company’s revenue was up 3.5% on a year-over-year basis. As a group, research 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 disclosed a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, April 21st were paid a $0.9407 dividend. The ex-dividend date was Thursday, April 20th. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.91. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.51%. Procter & Gamble’s 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.