Exchange Traded Concepts LLC Grows Position in The Procter & Gamble Company (NYSE:PG)

Exchange Traded Concepts LLC increased its holdings in The Procter & Gamble Company (NYSE:PG) by 30.5% in the first quarter, Holdings Channel reports. The fund owned 95,525 shares of the company’s stock after purchasing an additional 22,302 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Procter & Gamble were worth $16,279,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Cladis Investment Advisory LLC lifted its stake in Procter & Gamble by 5.2% in the fourth quarter. Cladis Investment Advisory LLC now owns 4,807 shares of the company’s stock worth $806,000 after acquiring an additional 236 shares during the period. FAS Wealth Partners Inc. raised its holdings in Procter & Gamble by 2.0% in the fourth quarter. FAS Wealth Partners Inc. now owns 27,690 shares of the company’s stock worth $4,642,000 after purchasing an additional 549 shares in the last quarter. Berkshire Asset Management LLC PA raised its holdings in Procter & Gamble by 0.9% in the fourth quarter. Berkshire Asset Management LLC PA now owns 236,616 shares of the company’s stock worth $38,833,000 after purchasing an additional 2,179 shares in the last quarter. Strategic Advisors LLC raised its holdings in Procter & Gamble by 3.4% in the fourth quarter. Strategic Advisors LLC now owns 55,912 shares of the company’s stock worth $9,374,000 after purchasing an additional 1,818 shares in the last quarter. Finally, Natural Investments LLC bought a new position in Procter & Gamble in the fourth quarter worth about $2,121,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Jennifer L. Davis sold 1,000 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total transaction of $161,380.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the transaction, the insider now owns 25,182 shares of the company’s stock, valued at approximately $3,995,627.94. This trade represents a 29.47% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Procter & Gamble Trading Down 1.9%

NYSE PG opened at $160.06 on Friday. The company has a market capitalization of $375.27 billion, a PE ratio of 25.49, a P/E/G ratio of 3.76 and a beta of 0.43. The company has a fifty day moving average of $163.75 and a 200 day moving average of $166.73. The Procter & Gamble Company has a 1 year low of $156.58 and a 1 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 issued its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.01. The business had revenue of $19.78 billion during the quarter, compared to the consensus estimate of $20.42 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.52 earnings per share. Research analysts forecast that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were given a $1.0568 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.64%. This is an increase from Procter & Gamble’s previous quarterly dividend of $1.01. Procter & Gamble’s dividend payout ratio is 66.98%.

Analyst Ratings Changes

A number of equities analysts have commented on PG shares. Bank of America reduced their target price on shares of Procter & Gamble from $190.00 to $180.00 and set a “buy” rating for the company in a report on Friday, April 25th. Truist Financial reduced their target price on shares of Procter & Gamble from $185.00 to $180.00 and set a “buy” rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. decreased their price objective on shares of Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Erste Group Bank downgraded shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 30th. Finally, Raymond James decreased their price target on shares of Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Eight analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $178.86.

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.