Zullo Investment Group Inc. Boosts Stock Position in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jul 12th, 2023

Zullo Investment Group Inc. increased its holdings in The Procter & Gamble Company (NYSE:PG – Free Report) by 0.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,845 shares of the company’s stock after purchasing an additional 105 shares during the period. Procter & Gamble accounts for 1.4% of Zullo Investment Group Inc.’s holdings, making the stock its 14th biggest holding. Zullo Investment Group Inc.’s holdings in Procter & Gamble were worth $2,207,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PG. Moneta Group Investment Advisors LLC increased its stake 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 bought a new stake in Procter & Gamble in the 4th quarter worth approximately $3,752,321,000. Morgan Stanley increased its stake 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 stake 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 bought a new stake in Procter & Gamble in the 4th quarter worth approximately $292,647,000. 64.65% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Price Performance

Shares of PG stock opened at $148.07 on Wednesday. The Procter & Gamble Company has a twelve month low of $122.18 and a twelve month high of $158.11. The stock has a market capitalization of $349.00 billion, a price-to-earnings ratio of 25.80, a P/E/G ratio of 3.83 and a beta of 0.42. The stock has a fifty day simple moving average of $149.65 and a two-hundred day simple moving average of $147.29. The company has a current ratio of 0.59, a quick ratio of 0.39 and a debt-to-equity ratio of 0.51.

Procter & Gamble (NYSE:PG – Get Free Report) last issued its earnings results on Friday, April 21st. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.05. The business had revenue of $20.07 billion during the quarter, compared to analysts’ expectations of $19.32 billion. Procter & Gamble had a return on equity of 32.18% and a net margin of 17.69%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.33 EPS. On average, analysts predict that The Procter & Gamble Company will post 5.86 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 21st will be paid a dividend of $0.9407 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.54%. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.51%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PG. Raymond James lifted their price objective on Procter & Gamble from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Sunday, April 23rd. StockNews.com assumed coverage on Procter & Gamble in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Truist Financial downgraded Procter & Gamble from a “buy” rating to a “hold” rating and cut their target price for the company from $165.00 to $155.00 in a research report on Thursday, May 18th. 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 research report on Monday, April 24th. Finally, Barclays boosted their target price on Procter & Gamble from $160.00 to $167.00 in a research 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.50.

Insider Buying and Selling

In related news, insider Susan Street Whaley sold 4,852 shares of the company’s stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $155.47, for a total transaction of $754,340.44. Following the completion of the sale, the insider now directly owns 7,977 shares in the company, valued at approximately $1,240,184.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Shailesh Jejurikar sold 31,000 shares of the company’s stock in a transaction dated 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 transaction, 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 Securities & Exchange Commission, which is available at this link. Also, insider Susan Street Whaley sold 4,852 shares of the company’s stock in a transaction dated 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. 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 insiders.

Procter & Gamble 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.

Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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