Coerente Capital Management trimmed its holdings in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 1.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,065 shares of the company’s stock after selling 215 shares during the quarter. Procter & Gamble accounts for about 0.4% of Coerente Capital Management’s holdings, making the stock its 25th largest position. Coerente Capital Management’s holdings in Procter & Gamble were worth $1,943,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of PG. Moneta Group Investment Advisors LLC increased its position in shares of Procter & Gamble by 96,526.4% during 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 during the last quarter. Norges Bank purchased a new stake in Procter & Gamble in the fourth quarter worth $3,752,321,000. Morgan Stanley increased its position in Procter & Gamble by 12.6% in the fourth quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock worth $6,717,246,000 after buying an additional 4,959,527 shares during the last quarter. Alliancebernstein L.P. increased its position in Procter & Gamble by 43.9% in the fourth quarter. Alliancebernstein L.P. now owns 9,462,510 shares of the company’s stock worth $1,434,138,000 after buying an additional 2,888,007 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Procter & Gamble by 1.0% in the third quarter. Vanguard Group Inc. now owns 224,570,227 shares of the company’s stock worth $28,351,991,000 after buying an additional 2,197,165 shares during the last quarter. 64.65% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, CAO Matthew W. Janzaruk sold 13,697 shares of the company’s stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $155.76, for a total transaction of $2,133,444.72. Following the completion of the transaction, the chief accounting officer now directly owns 883 shares of the company’s stock, valued at $137,536.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Ma. Fatima Francisco sold 8,000 shares of the business’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $156.84, for a total transaction of $1,254,720.00. Following the transaction, the chief executive officer now owns 9,343 shares in the company, valued at $1,465,356.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Matthew W. Janzaruk sold 13,697 shares of the business’s stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $155.76, for a total transaction of $2,133,444.72. Following the transaction, the chief accounting officer now owns 883 shares in the company, valued at approximately $137,536.08. 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. Insiders own 0.26% of the company’s stock.
Procter & Gamble Stock Up 1.6 %
Procter & Gamble (NYSE:PG – Free Report) last issued its quarterly earnings data on Friday, April 21st. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.32 by $0.05. The firm had revenue of $20.07 billion during the quarter, compared to the consensus estimate of $19.32 billion. Procter & Gamble had a net margin of 17.69% and a return on equity of 32.18%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.33 earnings per share. On average, analysts forecast that The Procter & Gamble Company will post 5.86 earnings per share for the current fiscal 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 dividend of $0.9407 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.48%. 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. Procter & Gamble’s dividend payout ratio is 65.51%.
Analysts Set New Price Targets
A number of analysts have issued reports on the company. Jefferies Financial Group raised their target price on Procter & Gamble from $171.00 to $175.00 and gave the stock 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 stock a “buy” rating in a research report on Monday, April 24th. Truist Financial lowered Procter & Gamble from a “buy” rating to a “hold” rating and decreased their price objective for the company from $165.00 to $155.00 in a research note on Thursday, May 18th. Evercore ISI raised their target price on Procter & Gamble from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Monday, April 24th. Finally, Barclays increased their price target on shares of Procter & Gamble from $160.00 to $167.00 in a report on Wednesday, April 26th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $161.50.
Procter & Gamble Profile
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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