Burns J W & Co. Inc. NY Grows Stake in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jun 30th, 2023

Burns J W & Co. Inc. NY grew its position in The Procter & Gamble Company (NYSE:PG – Free Report) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,459 shares of the company’s stock after purchasing an additional 417 shares during the quarter. Procter & Gamble comprises approximately 1.7% of Burns J W & Co. Inc. NY’s investment portfolio, making the stock its 13th biggest holding. Burns J W & Co. Inc. NY’s holdings in Procter & Gamble were worth $10,030,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. GPS Wealth Strategies Group LLC grew its holdings in shares of Procter & Gamble by 12.3% during the first quarter. GPS Wealth Strategies Group LLC now owns 13,025 shares of the company’s stock valued at $1,937,000 after buying an additional 1,430 shares during the last quarter. Planning Center Inc. grew its holdings in shares of Procter & Gamble by 129.7% during the first quarter. Planning Center Inc. now owns 7,471 shares of the company’s stock valued at $1,134,000 after buying an additional 4,219 shares during the last quarter. Galvin Gaustad & Stein LLC grew its holdings in shares of Procter & Gamble by 3.3% during the first quarter. Galvin Gaustad & Stein LLC now owns 92,831 shares of the company’s stock valued at $13,803,000 after buying an additional 2,997 shares during the last quarter. Shore Point Advisors LLC grew its holdings in shares of Procter & Gamble by 4.5% during the first quarter. Shore Point Advisors LLC now owns 2,346 shares of the company’s stock valued at $349,000 after buying an additional 100 shares during the last quarter. Finally, Bill Few Associates Inc. grew its holdings in shares of Procter & Gamble by 2.1% during the first quarter. Bill Few Associates Inc. now owns 30,617 shares of the company’s stock valued at $4,553,000 after buying an additional 617 shares during the last quarter. 64.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PG has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of Procter & Gamble from $160.00 to $167.00 in a report on Wednesday, April 26th. Royal Bank of Canada boosted their target price on shares of Procter & Gamble from $160.00 to $165.00 and gave the company a “sector perform” rating in a research report on Monday, April 24th. Morgan Stanley boosted their target price on shares of Procter & Gamble from $160.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, April 24th. Truist Financial downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating and decreased their target price for the company from $165.00 to $155.00 in a research report on Thursday, May 18th. Finally, Jefferies Financial Group boosted their target price on shares of Procter & Gamble from $171.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, April 24th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $161.50.

Procter & Gamble Trading Down 0.4 %

Shares of Procter & Gamble stock opened at $149.38 on Friday. The firm has a market capitalization of $352.08 billion, a PE ratio of 26.02, a P/E/G ratio of 4.17 and a beta of 0.41. The Procter & Gamble Company has a twelve month low of $122.18 and a twelve month high of $158.11. The firm’s 50-day moving average price is $150.50 and its 200 day moving average price is $147.40. The company has a current ratio of 0.59, a quick ratio of 0.39 and a debt-to-equity ratio of 0.51.

Procter & Gamble (NYSE:PG – Free Report) last issued its quarterly 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 firm had revenue of $20.07 billion for the quarter, compared to analyst estimates of $19.32 billion. Procter & Gamble had a net margin of 17.69% and a return on equity of 32.18%. Procter & Gamble’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the company posted $1.33 EPS. On average, sell-side 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 declared 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 is a positive change from Procter & Gamble’s previous quarterly dividend of $0.91. This represents a $3.76 dividend on an annualized basis and a yield of 2.52%. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.51%.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, CFO Andre Schulten sold 25,244 shares of the stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $155.27, for a total value of $3,919,635.88. Following the completion of the sale, the chief financial officer now owns 27,118 shares in the company, valued at approximately $4,210,611.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Balaji Purushothaman sold 12,300 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 13,001 shares in the company, valued at approximately $2,032,446.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andre Schulten sold 25,244 shares of the firm’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $155.27, for a total transaction of $3,919,635.88. Following the sale, the chief financial officer now owns 27,118 shares of the company’s stock, valued at approximately $4,210,611.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,093 shares of company stock valued at $14,821,930. 0.26% of the stock is owned by corporate insiders.

Procter & Gamble Company 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.