HBK Sorce Advisory LLC purchased a new position in Procter & Gamble Company (The) (NYSE:PG – Free Report) during the second quarter, Holdings Channel reports. The firm purchased 66,452 shares of the company’s stock, valued at approximately $9,755,000. Procter & Gamble accounts for 0.2% of HBK Sorce Advisory LLC’s portfolio, making the stock its 29th largest position.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in Procter & Gamble in the 4th quarter valued at about $4,664,783,000. Bank of New York Mellon Corp acquired a new position in shares of Procter & Gamble in the 2nd quarter valued at approximately $2,281,505,000. Cardano Risk Management B.V. lifted its holdings in shares of Procter & Gamble by 1,104.8% during the 4th quarter. Cardano Risk Management B.V. now owns 9,521,440 shares of the company’s stock worth $1,364,518,000 after acquiring an additional 8,731,126 shares during the period. Auto Owners Insurance Co boosted its position in shares of Procter & Gamble by 14,231.0% during the 4th quarter. Auto Owners Insurance Co now owns 3,549,645 shares of the company’s stock worth $508,700,000 after acquiring an additional 3,524,876 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Procter & Gamble by 1.2% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Evercore set a $162.00 price objective on shares of Procter & Gamble in a research report on Monday, April 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Procter & Gamble in a report on Wednesday, June 24th. Wells Fargo & Company lifted their price target on Procter & Gamble from $158.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Sanford C. Bernstein initiated coverage on Procter & Gamble in a report on Thursday, June 11th. They set a “market perform” rating and a $156.00 price target for the company. Finally, Citigroup dropped their price objective on Procter & Gamble from $181.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Thirteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $161.52.
Procter & Gamble Stock Up 1.3%
NYSE:PG opened at $144.77 on Friday. Procter & Gamble Company has a one year low of $137.62 and a one year high of $167.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.68 and a quick ratio of 0.47. The company has a market cap of $336.51 billion, a PE ratio of 21.87, a P/E/G ratio of 4.40 and a beta of 0.39. The firm’s 50 day simple moving average is $147.73 and its 200 day simple moving average is $148.69.
Procter & Gamble (NYSE:PG – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.02. The firm had revenue of $21.20 billion during the quarter, compared to analysts’ expectations of $21.38 billion. Procter & Gamble had a net margin of 18.44% and a return on equity of 31.36%. The company’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.48 EPS. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. On average, research analysts anticipate that Procter & Gamble Company will post 6.98 earnings per share for the current year.
Procter & Gamble Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 24th were issued a $1.0885 dividend. This represents a $4.35 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Friday, July 24th. Procter & Gamble’s dividend payout ratio is presently 65.71%.
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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