The Procter & Gamble Company (NYSE:PG) Shares Sold by Hexagon Capital Partners LLC

Posted by Defense World Staff on Jul 10th, 2023

Hexagon Capital Partners LLC cut its holdings in The Procter & Gamble Company (NYSE:PG – Free Report) by 1.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,030 shares of the company’s stock after selling 133 shares during the period. Procter & Gamble comprises about 0.4% of Hexagon Capital Partners LLC’s holdings, making the stock its 19th largest position. Hexagon Capital Partners LLC’s holdings in Procter & Gamble were worth $1,491,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Moneta Group Investment Advisors LLC lifted its position in Procter & Gamble by 96,526.4% in 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 position in Procter & Gamble during the 4th quarter worth approximately $3,752,321,000. Morgan Stanley increased its position in Procter & Gamble by 12.6% during 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 period. Alliancebernstein L.P. lifted its stake in Procter & Gamble by 43.9% in the fourth quarter. Alliancebernstein L.P. now owns 9,462,510 shares of the company’s stock valued at $1,434,138,000 after buying an additional 2,888,007 shares during the last quarter. Finally, CI Private Wealth LLC acquired a new stake in shares of Procter & Gamble in the fourth quarter valued at approximately $292,647,000. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. UBS Group increased their price target on shares of Procter & Gamble from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, April 24th. Raymond James raised their price target on Procter & Gamble from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Sunday, April 23rd. StockNews.com initiated coverage on Procter & Gamble in a research note on Thursday, May 18th. They set a “buy” rating for the company. Jefferies Financial Group lifted their target price on Procter & Gamble from $171.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, April 24th. Finally, Royal Bank of Canada boosted 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. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $161.50.

Procter & Gamble Trading Down 2.1 %

Shares of PG opened at $148.80 on Monday. 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. The firm has a 50 day simple moving average of $149.97 and a 200-day simple moving average of $147.34. The stock has a market cap of $350.72 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 3.83 and a beta of 0.42.

Procter & Gamble (NYSE:PG – Free Report) last released its quarterly earnings results on Friday, April 21st. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. Procter & Gamble had a return on equity of 32.18% and a net margin of 17.69%. The company had revenue of $20.07 billion during the quarter, compared to analysts’ expectations of $19.32 billion. During the same period in the previous year, the firm posted $1.33 earnings per share. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities 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 declared a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, April 21st were paid a dividend of $0.9407 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date was Thursday, April 20th. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.91. Procter & Gamble’s dividend payout ratio is currently 65.51%.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, COO Shailesh Jejurikar sold 31,000 shares of the firm’s stock in a transaction dated 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 directly owns 10,014 shares of the company’s stock, valued at approximately $1,562,484.42. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Procter & Gamble news, COO Shailesh Jejurikar sold 31,000 shares of Procter & Gamble stock in a transaction on Monday, May 1st. The shares were sold at an average price of $156.03, for a total value of $4,836,930.00. Following the transaction, the chief operating officer now owns 10,014 shares in the company, valued at approximately $1,562,484.42. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Andre Schulten sold 25,244 shares of the business’s 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 sale, the chief financial officer now directly 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. Insiders have sold 95,093 shares of company stock worth $14,821,930 over the last quarter. 0.26% of the stock is currently owned by 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.