Ferguson Wellman Capital Management Inc. increased its holdings in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 14.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 714,591 shares of the company’s stock after purchasing an additional 90,077 shares during the period. Procter & Gamble makes up 2.7% of Ferguson Wellman Capital Management Inc.’s portfolio, making the stock its 4th biggest position. Ferguson Wellman Capital Management Inc.’s holdings in Procter & Gamble were worth $106,253,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. EWG Elevate Inc. bought a new stake in Procter & Gamble in the 4th quarter valued at approximately $26,000. Silicon Valley Capital Partners bought a new stake in Procter & Gamble in the 4th quarter valued at approximately $28,000. Legend Financial Advisors Inc. bought a new stake in Procter & Gamble in the 3rd quarter valued at approximately $30,000. Luken Investment Analytics LLC acquired a new position in shares of Procter & Gamble during the 4th quarter worth approximately $37,000. Finally, Bourgeon Capital Management LLC increased its position in shares of Procter & Gamble by 39.9% during the 4th quarter. Bourgeon Capital Management LLC now owns 249 shares of the company’s stock worth $38,000 after purchasing an additional 71 shares during the last quarter. Institutional investors own 64.65% of the company’s stock.
Insider Activity
In other news, COO Shailesh Jejurikar sold 31,000 shares of the company’s stock in a transaction on Monday, May 1st. The stock was 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 approximately $1,562,484.42. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Andre Schulten sold 25,244 shares of the company’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 directly owns 27,118 shares in the company, valued at approximately $4,210,611.86. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Shailesh Jejurikar sold 31,000 shares of the company’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $156.03, for a total value of $4,836,930.00. Following the sale, 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. In the last three months, insiders sold 95,093 shares of company stock worth $14,821,930. 0.26% of the stock is currently owned by company insiders.
Procter & Gamble Stock Performance
Procter & Gamble (NYSE:PG – Free Report) last released its 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 during the quarter, compared to the consensus estimate of $19.32 billion. Procter & Gamble had a return on equity of 32.18% and a net margin of 17.69%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.33 EPS. As a group, equities analysts anticipate that The Procter & Gamble Company will post 5.86 EPS for the current fiscal year.
Procter & Gamble Increases Dividend
The business also recently announced 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. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.47%. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.91. The ex-dividend date was Thursday, April 20th. Procter & Gamble’s dividend payout ratio is presently 65.51%.
Analyst Ratings Changes
Several research analysts have weighed in on PG shares. Truist Financial lowered Procter & Gamble from a “buy” rating to a “hold” rating and lowered their price target for the stock from $165.00 to $155.00 in a research report on Thursday, May 18th. Raymond James boosted their price target on Procter & Gamble from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Sunday, April 23rd. UBS Group boosted their price target on Procter & Gamble from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, April 24th. Royal Bank of Canada boosted their price target on Procter & Gamble from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Monday, April 24th. Finally, Morgan Stanley boosted their price target on Procter & Gamble from $160.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, April 24th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $161.50.
About Procter & Gamble
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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