Martingale Asset Management L P lifted its holdings in shares of Procter & Gamble Company (The) (NYSE:PG – Free Report) by 8.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 222,081 shares of the company’s stock after purchasing an additional 18,161 shares during the period. Procter & Gamble accounts for 0.8% of Martingale Asset Management L P’s holdings, making the stock its 23rd biggest holding. Martingale Asset Management L P’s holdings in Procter & Gamble were worth $31,826,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Carson Advisory Inc. grew its position in Procter & Gamble by 0.5% in the 4th quarter. Carson Advisory Inc. now owns 12,124 shares of the company’s stock worth $1,738,000 after purchasing an additional 65 shares in the last quarter. Trilogy Capital Inc. grew its position in Procter & Gamble by 1.1% in the 4th quarter. Trilogy Capital Inc. now owns 6,289 shares of the company’s stock worth $901,000 after purchasing an additional 67 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in Procter & Gamble by 1.8% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 3,829 shares of the company’s stock valued at $549,000 after acquiring an additional 67 shares during the last quarter. Lorne Steinberg Wealth Management Inc. boosted its stake in Procter & Gamble by 2.7% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 2,623 shares of the company’s stock valued at $376,000 after acquiring an additional 68 shares during the last quarter. Finally, Grant Street Asset Management Inc. boosted its stake in Procter & Gamble by 2.7% in the fourth quarter. Grant Street Asset Management Inc. now owns 2,627 shares of the company’s stock valued at $376,000 after acquiring an additional 69 shares during the last quarter. Institutional investors own 65.77% of the company’s stock.
Procter & Gamble Stock Performance
Procter & Gamble stock opened at $149.47 on Friday. The firm’s 50 day simple moving average is $144.63 and its 200 day simple moving average is $147.70. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $348.04 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 6.45 and a beta of 0.39. Procter & Gamble Company has a 1-year low of $137.62 and a 1-year high of $167.25.
Procter & Gamble Increases Dividend
The business 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 represents a $4.35 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, April 24th. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.06. Procter & Gamble’s payout ratio is currently 63.60%.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on PG. Bank of America dropped their price target on shares of Procter & Gamble from $171.00 to $167.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Rothschild & Co Redburn dropped their price target on shares of Procter & Gamble from $157.00 to $155.00 and set a “neutral” rating on the stock in a research note on Monday, April 27th. Jefferies Financial Group dropped their price target on shares of Procter & Gamble from $179.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. TD Cowen upped their target price on shares of Procter & Gamble from $142.00 to $150.00 and gave the stock a “hold” rating in a report on Monday, April 27th. Finally, Sanford C. Bernstein initiated coverage on shares of Procter & Gamble in a report on Thursday. They set a “market perform” rating and a $156.00 target price on the stock. Eleven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $160.78.
Read Our Latest Research Report on Procter & Gamble
Procter & Gamble Company 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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