The Procter & Gamble Company (NYSE:PG) Stock Position Decreased by First Hawaiian Bank

Posted by Defense World Staff on Jul 2nd, 2023

First Hawaiian Bank cut its position in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 3.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,529 shares of the company’s stock after selling 638 shares during the period. First Hawaiian Bank’s holdings in Procter & Gamble were worth $2,606,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PG. M. Kraus & Co raised its stake in shares of Procter & Gamble by 1.6% in the 1st quarter. M. Kraus & Co now owns 65,186 shares of the company’s stock valued at $9,692,000 after acquiring an additional 999 shares in the last quarter. Archford Capital Strategies LLC raised its stake in shares of Procter & Gamble by 8.6% in the 1st quarter. Archford Capital Strategies LLC now owns 12,903 shares of the company’s stock valued at $1,952,000 after acquiring an additional 1,021 shares in the last quarter. Godsey & Gibb Inc. raised its stake in shares of Procter & Gamble by 1.5% in the 1st quarter. Godsey & Gibb Inc. now owns 129,102 shares of the company’s stock valued at $19,196,000 after acquiring an additional 1,898 shares in the last quarter. MCF Advisors LLC raised its stake in shares of Procter & Gamble by 9.9% in the 1st quarter. MCF Advisors LLC now owns 31,936 shares of the company’s stock valued at $4,749,000 after acquiring an additional 2,865 shares in the last quarter. Finally, Activest Wealth Management bought a new position in shares of Procter & Gamble in the 1st quarter valued at approximately $44,000. 64.65% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $151.74 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.59 and a quick ratio of 0.39. The company has a market capitalization of $357.65 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 4.15 and a beta of 0.41. The Procter & Gamble Company has a one year low of $122.18 and a one year high of $158.11. The business has a 50 day simple moving average of $150.41 and a 200 day simple moving average of $147.36.

Procter & Gamble (NYSE:PG – Free Report) last posted its earnings results on Friday, April 21st. The company reported $1.37 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $19.32 billion. During the same quarter last year, the company earned $1.33 EPS. Procter & Gamble’s revenue was up 3.5% on a year-over-year basis. On average, sell-side analysts forecast that The Procter & Gamble Company will post 5.86 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, April 21st were given a $0.9407 dividend. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Thursday, April 20th. This represents a $3.76 annualized dividend and a yield of 2.48%. Procter & Gamble’s payout ratio is presently 65.51%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CAO Matthew W. Janzaruk sold 13,697 shares of Procter & Gamble stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $155.76, for a total value of $2,133,444.72. Following the completion of the transaction, the chief accounting officer now owns 883 shares in the company, valued at approximately $137,536.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Andre Schulten sold 25,244 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 27,118 shares in the company, valued at $4,210,611.86. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Matthew W. Janzaruk sold 13,697 shares of Procter & Gamble stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $155.76, for a total value of $2,133,444.72. Following the sale, the chief accounting officer now directly owns 883 shares of the company’s stock, valued at $137,536.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,093 shares of company stock worth $14,821,930. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. StockNews.com assumed coverage on Procter & Gamble in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Jefferies Financial Group raised their target price on Procter & Gamble from $171.00 to $175.00 and gave the company a “buy” rating in a report on Monday, April 24th. Raymond James raised their target price on Procter & Gamble from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Sunday, April 23rd. 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 report on Monday, April 24th. Finally, Evercore ISI raised their target price on Procter & Gamble from $160.00 to $170.00 and gave the company an “outperform” 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $161.50.

About Procter & Gamble

(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.