Cadent Capital Advisors LLC Boosts Stock Position in Procter & Gamble Company (The) (NYSE:PG)

Cadent Capital Advisors LLC boosted its position in shares of Procter & Gamble Company (The) (NYSE:PG) by 20.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,282 shares of the company’s stock after acquiring an additional 381 shares during the quarter. Cadent Capital Advisors LLC’s holdings in Procter & Gamble were worth $389,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Procter & Gamble in the fourth quarter valued at $5,244,463,000. GAMMA Investing LLC raised its position in Procter & Gamble by 20,758.5% in the 1st quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company’s stock valued at $1,355,087,000 after purchasing an additional 7,913,335 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Procter & Gamble during the fourth quarter worth about $1,010,685,000. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Procter & Gamble by 1,195.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock worth $580,596,000 after buying an additional 2,973,757 shares during the period. Finally, Capital Research Global Investors raised its holdings in Procter & Gamble by 62.5% in the fourth quarter. Capital Research Global Investors now owns 7,398,120 shares of the company’s stock valued at $1,240,294,000 after acquiring an additional 2,846,560 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Stock Down 1.5%

PG opened at $158.53 on Wednesday. The business has a 50 day moving average price of $163.73 and a two-hundred day moving average price of $166.46. Procter & Gamble Company has a 52 week low of $156.58 and a 52 week high of $180.43. The company has a market cap of $371.67 billion, a PE ratio of 25.16, a P/E/G ratio of 4.74 and a beta of 0.43. The company has a quick ratio of 0.50, a current ratio of 0.71 and a debt-to-equity ratio of 0.47.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.01. The firm had revenue of $19.78 billion during the quarter, compared to the consensus estimate of $20.42 billion. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period last year, the company earned $1.52 earnings per share. As a group, research analysts anticipate that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Increases Dividend

The company also recently declared 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 is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. This represents a $4.23 annualized dividend and a yield of 2.67%. The ex-dividend date was Monday, April 21st. Procter & Gamble’s dividend payout ratio is currently 67.14%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PG shares. Redburn Partners set a $161.00 price objective on shares of Procter & Gamble in a research report on Thursday, May 1st. Piper Sandler increased their target price on Procter & Gamble from $160.00 to $164.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Royal Bank Of Canada raised Procter & Gamble from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $164.00 to $177.00 in a report on Friday, April 25th. Erste Group Bank downgraded Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 30th. Finally, Truist Financial cut their target price on Procter & Gamble from $185.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Procter & Gamble has an average rating of “Moderate Buy” and a consensus price target of $178.86.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 51,965 shares in the company, valued at approximately $8,386,111.70. This represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the company’s stock in a transaction on 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 directly owns 25,182 shares in the company, valued at approximately $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

About Procter & Gamble

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.