CIBC Asset Management Inc grew its holdings in Procter & Gamble Company (The) (NYSE:PG – Free Report) by 45.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 716,972 shares of the company’s stock after purchasing an additional 223,313 shares during the quarter. CIBC Asset Management Inc’s holdings in Procter & Gamble were worth $102,729,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Procter & Gamble by 1,000.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 165 shares of the company’s stock valued at $25,000 after buying an additional 150 shares during the period. Park Square Financial Group LLC raised its holdings in shares of Procter & Gamble by 65.1% during the 4th quarter. Park Square Financial Group LLC now owns 180 shares of the company’s stock valued at $26,000 after buying an additional 71 shares during the period. Maseco LLP purchased a new stake in shares of Procter & Gamble during the 4th quarter valued at about $28,000. Saranac Partners Ltd purchased a new stake in shares of Procter & Gamble during the 3rd quarter valued at about $30,000. Finally, Caitlin John LLC purchased a new stake in shares of Procter & Gamble during the 3rd quarter valued at about $34,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.
Procter & Gamble Price Performance
PG opened at $140.62 on Wednesday. Procter & Gamble Company has a 1-year low of $137.62 and a 1-year high of $168.04. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.53 and a current ratio of 0.73. The company has a market capitalization of $327.44 billion, a P/E ratio of 20.56, a PEG ratio of 6.01 and a beta of 0.39. The company has a 50-day moving average of $144.32 and a 200-day moving average of $147.85.
Procter & Gamble Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, April 24th were issued a $1.0885 dividend. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.06. The ex-dividend date was Friday, April 24th. This represents a $4.35 dividend on an annualized basis and a dividend yield of 3.1%. Procter & Gamble’s dividend payout ratio (DPR) is presently 63.60%.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on PG shares. Erste Group Bank downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. JPMorgan Chase & Co. dropped their price target on shares of Procter & Gamble from $165.00 to $162.00 and set an “overweight” rating on the stock in a research note on Friday, April 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $163.00 price target on shares of Procter & Gamble in a research note on Monday, April 27th. Wells Fargo & Company lifted their price target on shares of Procter & Gamble from $158.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Finally, Royal Bank Of Canada dropped their price target on shares of Procter & Gamble from $172.00 to $167.00 and set an “outperform” rating on the stock in a research note on Thursday, April 9th. Eleven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus price target of $161.06.
View Our Latest Research Report on PG
Procter & Gamble Profile
Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.
P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.
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