Thoroughbred Financial Services LLC cut its holdings in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 5.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,728 shares of the company’s stock after selling 791 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Procter & Gamble were worth $1,892,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the business. Moneta Group Investment Advisors LLC increased its holdings in Procter & Gamble by 96,526.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 38,535,557 shares of the company’s stock worth $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 4th quarter worth about $3,752,321,000. Morgan Stanley increased its holdings in Procter & Gamble by 12.6% in the 4th quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock worth $6,717,246,000 after acquiring an additional 4,959,527 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Procter & Gamble by 43.9% in the 4th quarter. Alliancebernstein L.P. now owns 9,462,510 shares of the company’s stock worth $1,434,138,000 after acquiring an additional 2,888,007 shares during the last quarter. Finally, CI Private Wealth LLC purchased a new stake in Procter & Gamble in the 4th quarter worth about $292,647,000. 64.65% of the stock is owned by hedge funds and other institutional investors.
Procter & Gamble Stock Performance
NYSE:PG opened at $148.80 on Monday. The business has a 50 day moving average of $149.97 and a 200 day moving average of $147.34. The company has a market capitalization of $350.72 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 3.83 and a beta of 0.42. The Procter & Gamble Company has a 1-year low of $122.18 and a 1-year high of $158.11. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.59 and a quick ratio of 0.39.
Procter & Gamble Increases Dividend
The business 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. The ex-dividend date of this dividend was Thursday, April 20th. This represents a $3.76 annualized dividend and a yield of 2.53%. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.91. Procter & Gamble’s payout ratio is presently 65.51%.
Insider Buying and Selling at Procter & Gamble
In other Procter & Gamble news, insider Susan Street Whaley sold 4,852 shares of the business’s stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $155.47, for a total value of $754,340.44. Following the completion of the sale, the insider now owns 7,977 shares in the company, valued at $1,240,184.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Matthew W. Janzaruk sold 13,697 shares of the business’s stock in a transaction that occurred on Wednesday, April 26th. The stock was 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 directly owns 883 shares of the company’s stock, valued at $137,536.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Susan Street Whaley sold 4,852 shares of the business’s stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $155.47, for a total value of $754,340.44. Following the transaction, the insider now directly owns 7,977 shares in the company, valued at $1,240,184.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,093 shares of company stock worth $14,821,930. 0.26% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of research analysts have weighed in on the company. Royal Bank of Canada lifted their target price on Procter & Gamble from $160.00 to $165.00 and gave the company a “sector perform” rating in a report on Monday, April 24th. Truist Financial lowered Procter & Gamble from a “buy” rating to a “hold” rating and reduced their target price for the company from $165.00 to $155.00 in a report on Thursday, May 18th. Evercore ISI lifted 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. Morgan Stanley lifted their target price on Procter & Gamble from $160.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, April 24th. Finally, Raymond James lifted 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. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.
Featured Articles
- Five stocks we like better than Procter & Gamble
- MarketBeat Week in Review – 7/3 – 7/7
- Pfizer Just Invested $25 million In This Biotech
- Cracks In The Labor Market? Not Yet, But They’re Coming
- Levi’s: Buy On The Dip Or Downtrend In Play?
- Who Wins And Who Loses With China’s Metal Restrictions
Receive News & Ratings for Procter & Gamble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procter & Gamble and related companies with MarketBeat.com's FREE daily email newsletter.
