First City Capital Management Inc. Has $2.13 Million Stock Position in The Procter & Gamble Company (NYSE:PG)

First City Capital Management Inc. reduced its position in The Procter & Gamble Company (NYSE:PG) by 22.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 12,514 shares of the company’s stock after selling 3,696 shares during the period. Procter & Gamble accounts for 1.3% of First City Capital Management Inc.’s investment portfolio, making the stock its 19th biggest holding. First City Capital Management Inc.’s holdings in Procter & Gamble were worth $2,133,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in PG. NewSquare Capital LLC grew its stake in shares of Procter & Gamble by 933.3% during the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock worth $26,000 after purchasing an additional 140 shares during the period. Navigoe LLC acquired a new stake in shares of Procter & Gamble during the fourth quarter worth $31,000. Capital A Wealth Management LLC acquired a new stake in shares of Procter & Gamble during the fourth quarter worth $31,000. Hoey Investments Inc. grew its stake in shares of Procter & Gamble by 321.7% during the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 148 shares during the period. Finally, LFA Lugano Financial Advisors SA acquired a new stake in shares of Procter & Gamble during the fourth quarter worth $34,000. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $164.01 on Friday. The firm has a market cap of $384.53 billion, a price-to-earnings ratio of 26.12, a price-to-earnings-growth ratio of 3.76 and a beta of 0.43. The stock’s 50-day moving average is $164.01 and its 200-day moving average is $167.25. The Procter & Gamble Company has a one year low of $156.58 and a one year high of $180.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55.

Procter & Gamble (NYSE:PG) last released its earnings results on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.01. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The business had revenue of $19.78 billion for the quarter, compared to analyst estimates of $20.42 billion. During the same quarter in the prior year, the company posted $1.52 earnings per share. Procter & Gamble’s revenue was down 2.1% on a year-over-year basis. Equities analysts predict that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, April 21st were issued a dividend of $1.0568 per share. This represents a $4.23 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend was Monday, April 21st. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.01. Procter & Gamble’s dividend payout ratio is presently 66.98%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PG. Piper Sandler boosted their target price on Procter & Gamble from $160.00 to $164.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Raymond James decreased their target price on Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Redburn Atlantic cut Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 target price for the company. in a research note on Thursday, May 1st. Truist Financial decreased their target price on Procter & Gamble from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Finally, Redburn Partners set a $161.00 target price on Procter & Gamble in a research note on Thursday, May 1st. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and an average price target of $178.86.

Insider Buying and Selling

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total value of $161,380.00. Following the sale, the chief executive officer now owns 51,965 shares in the company, valued at $8,386,111.70. This represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $158.67, for a total value of $1,669,208.40. Following the completion of the sale, the insider now owns 25,182 shares in the company, valued at $3,995,627.94. This represents a 29.47% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Procter & Gamble Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.