Montchanin Asset Management LLC purchased a new position in Procter & Gamble Company (The) (NYSE:PG – Free Report) during the first quarter, HoldingsChannel reports. The fund purchased 3,591 shares of the company’s stock, valued at approximately $519,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PG. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Procter & Gamble by 1,000.0% during the fourth 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 last quarter. Litman Gregory Wealth Management LLC bought a new position in shares of Procter & Gamble during the fourth quarter worth $26,000. Park Square Financial Group LLC boosted its position in shares of Procter & Gamble by 65.1% during the fourth quarter. Park Square Financial Group LLC now owns 180 shares of the company’s stock worth $26,000 after acquiring an additional 71 shares during the last quarter. Evolution Wealth Management Inc. grew its stake in Procter & Gamble by 1,315.4% during the fourth quarter. Evolution Wealth Management Inc. now owns 184 shares of the company’s stock valued at $26,000 after acquiring an additional 171 shares in the last quarter. Finally, Basso Capital Management L.P. purchased a new position in Procter & Gamble during the fourth quarter valued at $28,000. 65.77% of the stock is currently owned by institutional investors.
Procter & Gamble Price Performance
Procter & Gamble stock opened at $144.62 on Friday. Procter & Gamble Company has a 52-week low of $137.62 and a 52-week high of $167.25. The company has a quick ratio of 0.53, a current ratio of 0.68 and a debt-to-equity ratio of 0.42. The firm’s fifty day moving average is $147.71 and its 200 day moving average is $148.92. The company has a market cap of $336.77 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 7.20 and a beta of 0.39.
Procter & Gamble Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, July 24th will be given a $1.0885 dividend. The ex-dividend date is Friday, July 24th. This represents a $4.35 annualized dividend and a yield of 3.0%. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.71%.
Key Stories Impacting Procter & Gamble
Here are the key news stories impacting Procter & Gamble this week:
- Positive Sentiment: Citigroup maintained a Buy rating and set a $170 price target, implying substantial potential upside from recent levels, although the target was reduced from $181. Procter & Gamble Given New $170 Price Target at Citigroup
- Positive Sentiment: Brokerage coverage still leans constructive, with PG receiving an average “Moderate Buy” rating; Jefferies also retained its Buy rating despite trimming its target to $177. PG Average Rating of Moderate Buy
- Positive Sentiment: Management is emphasizing innovation, productivity improvements, e-commerce growth and market-share gains to support a consumer recovery. New product and marketing initiatives, including Downy’s premium fragrance campaign, could help reinforce brand strength. PG Q4 Earnings Call Highlights
Analyst Ratings Changes
Several analysts have commented on PG shares. Barclays boosted their price target on shares of Procter & Gamble from $146.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. BNP Paribas Exane cut their price objective on Procter & Gamble from $172.00 to $165.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Evercore set a $162.00 target price on Procter & Gamble in a report on Monday, April 27th. Rothschild & Co Redburn decreased their target price on Procter & Gamble from $157.00 to $155.00 and set a “neutral” rating on the stock in a research report on Monday, April 27th. Finally, HSBC reissued a “hold” rating and set a $149.00 price target (down from $182.00) on shares of Procter & Gamble in a research note on Thursday. Thirteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.52.
View Our Latest Stock Analysis on Procter & Gamble
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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