Rakuten Investment Management Inc. trimmed its holdings in Procter & Gamble Company (The) (NYSE:PG – Free Report) by 54.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 307,556 shares of the company’s stock after selling 364,673 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Procter & Gamble were worth $44,463,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in PG. Vanguard Group Inc. increased its stake in shares of Procter & Gamble by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 237,459,756 shares of the company’s stock worth $34,030,358,000 after acquiring an additional 2,829,151 shares during the period. State Street Corp increased its stake in shares of Procter & Gamble by 1.0% during the fourth quarter. State Street Corp now owns 101,618,926 shares of the company’s stock worth $14,563,008,000 after acquiring an additional 984,102 shares during the period. Geode Capital Management LLC increased its stake in shares of Procter & Gamble by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 62,647,882 shares of the company’s stock worth $8,962,689,000 after acquiring an additional 1,974,556 shares during the period. Norges Bank acquired a new position in shares of Procter & Gamble during the fourth quarter worth about $4,664,783,000. Finally, Franklin Resources Inc. increased its stake in shares of Procter & Gamble by 4.5% during the fourth quarter. Franklin Resources Inc. now owns 23,872,178 shares of the company’s stock worth $3,421,122,000 after acquiring an additional 1,021,833 shares during the period. 65.77% of the stock is owned by hedge funds and other institutional investors.
Procter & Gamble Stock Up 0.5%
Shares of NYSE PG opened at $150.40 on Tuesday. The firm’s 50-day moving average is $144.78 and its two-hundred day moving average is $147.72. The company has a market capitalization of $350.21 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 6.51 and a beta of 0.39. Procter & Gamble Company has a 12-month low of $137.62 and a 12-month high of $167.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.73 and a quick ratio of 0.53.
Procter & Gamble Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, April 24th were paid a dividend of $1.0885 per share. 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. This represents a $4.35 annualized dividend and a dividend yield of 2.9%. Procter & Gamble’s payout ratio is currently 63.60%.
Analyst Ratings Changes
A number of research analysts have recently issued reports on PG shares. BNP Paribas Exane dropped their price target on shares of Procter & Gamble from $172.00 to $165.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. The Goldman Sachs Group lowered their target price on shares of Procter & Gamble from $159.00 to $155.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 8th. UBS Group upped their target price on shares of Procter & Gamble from $166.00 to $172.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. 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 research report on Monday, April 27th. Finally, Barclays lowered their target price on shares of Procter & Gamble from $155.00 to $146.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 14th. Eleven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Procter & Gamble presently has an average rating of “Moderate Buy” and a consensus target price of $160.78.
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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