Planning Center Inc. Has $1.13 Million Stock Position in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jun 30th, 2023

Planning Center Inc. grew its holdings in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 129.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,471 shares of the company’s stock after purchasing an additional 4,219 shares during the period. Procter & Gamble comprises 0.3% of Planning Center Inc.’s holdings, making the stock its 20th largest holding. Planning Center Inc.’s holdings in Procter & Gamble were worth $1,134,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Galvin Gaustad & Stein LLC grew its position in shares of Procter & Gamble by 3.3% during the 1st quarter. Galvin Gaustad & Stein LLC now owns 92,831 shares of the company’s stock worth $13,803,000 after purchasing an additional 2,997 shares in the last quarter. Shore Point Advisors LLC grew its position in shares of Procter & Gamble by 4.5% during the 1st quarter. Shore Point Advisors LLC now owns 2,346 shares of the company’s stock worth $349,000 after purchasing an additional 100 shares in the last quarter. Bill Few Associates Inc. grew its position in shares of Procter & Gamble by 2.1% during the 1st quarter. Bill Few Associates Inc. now owns 30,617 shares of the company’s stock worth $4,553,000 after purchasing an additional 617 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. boosted its position in shares of Procter & Gamble by 4.2% during the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 3,190 shares of the company’s stock worth $481,000 after acquiring an additional 130 shares in the last quarter. Finally, Cadent Capital Advisors LLC boosted its position in shares of Procter & Gamble by 4.2% during the 1st quarter. Cadent Capital Advisors LLC now owns 1,823 shares of the company’s stock worth $271,000 after acquiring an additional 74 shares in the last quarter. Institutional investors and hedge funds own 64.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their price target 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 increased their price target for the stock from $150.00 to $155.00 in a research report on Friday, March 3rd. Royal Bank of Canada increased their price target on shares of Procter & Gamble from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Monday, April 24th. Evercore ISI increased 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. Finally, Barclays increased their price objective on shares of Procter & Gamble from $160.00 to $167.00 in a research note on Wednesday, April 26th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and a consensus target price of $161.50.

Insider Transactions at Procter & Gamble

In other news, COO Shailesh Jejurikar sold 31,000 shares of the 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 sale, the chief operating officer now directly owns 10,014 shares in the company, valued at $1,562,484.42. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Procter & Gamble news, COO Shailesh Jejurikar sold 31,000 shares of the firm’s 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 sale, the chief operating officer now directly owns 10,014 shares in the company, valued at $1,562,484.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $754,340.44. Following the completion of the sale, the insider now owns 7,977 shares of the company’s stock, valued at $1,240,184.19. The disclosure for this sale can be found here. Insiders sold a total of 95,093 shares of company stock worth $14,821,930 over the last three months. 0.26% of the stock is owned by company insiders.

Procter & Gamble Price Performance

PG stock opened at $149.38 on Friday. The company has a fifty day moving average price of $150.50 and a 200-day moving average price of $147.40. The company has a market capitalization of $352.08 billion, a P/E ratio of 26.02, a PEG ratio of 4.17 and a beta of 0.41. The Procter & Gamble Company has a 52-week low of $122.18 and a 52-week high of $158.11. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.39 and a current ratio of 0.59.

Procter & Gamble (NYSE:PG – Free Report) last posted its quarterly earnings data on Friday, April 21st. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.05. Procter & Gamble had a net margin of 17.69% and a return on equity of 32.18%. 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 company posted $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, equities analysts expect that The Procter & Gamble Company will post 5.86 EPS 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 given a dividend of $0.9407 per share. 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 annualized dividend and a dividend yield of 2.52%. Procter & Gamble’s dividend payout ratio is 65.51%.

Procter & Gamble Profile

(Free Report)

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.