Van ECK Associates Corp Acquires 1,852 Shares of The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Aug 3rd, 2023

Van ECK Associates Corp lifted its holdings in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 12.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 16,202 shares of the company’s stock after purchasing an additional 1,852 shares during the period. Van ECK Associates Corp’s holdings in Procter & Gamble were worth $2,409,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in PG. Axiom Financial Strategies LLC boosted its position in Procter & Gamble by 7.0% during the 1st quarter. Axiom Financial Strategies LLC now owns 1,728 shares of the company’s stock valued at $276,000 after buying an additional 113 shares during the period. AMI Investment Management Inc. lifted its position in shares of Procter & Gamble by 7.2% in the 1st quarter. AMI Investment Management Inc. now owns 3,461 shares of the company’s stock worth $529,000 after purchasing an additional 233 shares during the period. LSV Asset Management lifted its position in shares of Procter & Gamble by 5.7% in the 1st quarter. LSV Asset Management now owns 18,600 shares of the company’s stock worth $2,842,000 after purchasing an additional 1,000 shares during the period. Ergoteles LLC purchased a new stake in shares of Procter & Gamble in the 1st quarter worth about $3,073,000. Finally, Wsfs Capital Management LLC lifted its position in shares of Procter & Gamble by 12.0% in the 1st quarter. Wsfs Capital Management LLC now owns 4,256 shares of the company’s stock worth $650,000 after purchasing an additional 455 shares during the period. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Insider Buying and Selling

In other Procter & Gamble news, CAO Matthew W. Janzaruk sold 33,022 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $156.26, for a total transaction of $5,160,017.72. Following the completion of the transaction, the chief accounting officer now owns 888 shares in the company, valued at $138,758.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Procter & Gamble news, CAO Matthew W. Janzaruk sold 33,022 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $156.26, for a total transaction of $5,160,017.72. Following the completion of the transaction, the chief accounting officer now owns 888 shares in the company, valued at $138,758.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ma. Fatima Francisco sold 8,387 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $156.87, for a total transaction of $1,315,668.69. Following the transaction, the chief executive officer now owns 962 shares of the company’s stock, valued at approximately $150,908.94. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PG shares. JPMorgan Chase & Co. raised their target price on shares of Procter & Gamble from $164.00 to $172.00 in a research report on Friday, July 28th. Morgan Stanley reissued an “overweight” rating and set a $174.00 price target on shares of Procter & Gamble in a research report on Tuesday. StockNews.com raised shares of Procter & Gamble from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Procter & Gamble from $170.00 to $173.00 and gave the company a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company lifted their price target on shares of Procter & Gamble from $165.00 to $170.00 and gave the company an “overweight” rating in a research report on Monday. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus price target of $164.82.

Read Our Latest Analysis on PG

Procter & Gamble Stock Performance

Shares of PG stock opened at $156.59 on Thursday. The firm has a market capitalization of $369.08 billion, a PE ratio of 26.54, a P/E/G ratio of 3.88 and a beta of 0.42. The Procter & Gamble Company has a 52 week low of $122.18 and a 52 week high of $158.11. The company has a 50 day moving average price of $149.29 and a 200-day moving average price of $147.39. The company has a quick ratio of 0.44, a current ratio of 0.63 and a debt-to-equity ratio of 0.52.

Procter & Gamble (NYSE:PG – Get Free Report) last issued its earnings results on Friday, July 28th. 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 net margin of 17.87% and a return on equity of 32.73%. The firm had revenue of $20.60 billion during the quarter, compared to analyst estimates of $20.01 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. Procter & Gamble’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, equities research analysts expect that The Procter & Gamble Company will post 6.38 earnings per share for the current year.

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 21st will be given a dividend of $0.9407 per share. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.40%. Procter & Gamble’s dividend payout ratio is 63.73%.

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.