DekaBank Deutsche Girozentrale Buys 299,992 Shares of The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jul 11th, 2023

DekaBank Deutsche Girozentrale grew its stake in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 9.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,410,566 shares of the company’s stock after acquiring an additional 299,992 shares during the quarter. Procter & Gamble comprises approximately 1.3% of DekaBank Deutsche Girozentrale’s investment portfolio, making the stock its 10th largest holding. DekaBank Deutsche Girozentrale owned about 0.14% of Procter & Gamble worth $503,857,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PG. Eagle Strategies LLC lifted its holdings in Procter & Gamble by 1.9% in the 1st quarter. Eagle Strategies LLC now owns 3,526 shares of the company’s stock valued at $524,000 after purchasing an additional 65 shares in the last quarter. Keystone Wealth Services LLC lifted its holdings in Procter & Gamble by 2.7% in the 1st quarter. Keystone Wealth Services LLC now owns 2,562 shares of the company’s stock valued at $381,000 after purchasing an additional 67 shares in the last quarter. Steigerwald Gordon & Koch Inc. lifted its holdings in Procter & Gamble by 0.7% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 9,953 shares of the company’s stock valued at $1,480,000 after purchasing an additional 67 shares in the last quarter. Gradient Capital Advisors LLC lifted its holdings in Procter & Gamble by 4.0% in the 1st quarter. Gradient Capital Advisors LLC now owns 1,754 shares of the company’s stock valued at $261,000 after purchasing an additional 68 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its holdings in Procter & Gamble by 1.8% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,824 shares of the company’s stock valued at $580,000 after purchasing an additional 69 shares in the last quarter. Institutional investors and hedge funds own 64.65% of the company’s stock.

Procter & Gamble Stock Up 0.1 %

Shares of NYSE:PG opened at $148.93 on Tuesday. The business has a 50-day moving average price of $149.82 and a 200 day moving average price of $147.32. The company has a current ratio of 0.59, a quick ratio of 0.39 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $351.02 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 3.83 and a beta of 0.42. The Procter & Gamble Company has a 12-month low of $122.18 and a 12-month high of $158.11.

Procter & Gamble (NYSE:PG – Get Free Report) last announced its earnings results on Friday, April 21st. The company reported $1.37 EPS for the quarter, beating 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 last year, the business posted $1.33 EPS. Procter & Gamble’s revenue for the quarter was up 3.5% on a year-over-year basis. Sell-side analysts expect that The Procter & Gamble Company will post 5.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PG shares. Morgan Stanley raised their price objective on Procter & Gamble from $160.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, April 24th. Raymond James raised their price objective on Procter & Gamble from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Sunday, April 23rd. Barclays raised their target price on Procter & Gamble from $160.00 to $167.00 in a research note on Wednesday, April 26th. Royal Bank of Canada raised their target price on Procter & Gamble from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Monday, April 24th. Finally, 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 note on Monday, April 24th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $161.50.

Insider Activity at Procter & Gamble

In related news, CFO Andre Schulten sold 25,244 shares of the firm’s stock in a transaction dated 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 transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Ma. Fatima Francisco sold 8,000 shares of Procter & Gamble stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $156.84, for a total value of $1,254,720.00. Following the completion of the transaction, the chief executive officer now owns 9,343 shares in the company, valued at approximately $1,465,356.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andre Schulten sold 25,244 shares of Procter & Gamble 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 completion of the transaction, the chief financial officer now 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 sold 95,093 shares of company stock worth $14,821,930 in the last three months. 0.26% of the stock is owned by company 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.