Partners Wealth Management LLC raised its position in Procter & Gamble Company (The) (NYSE:PG – Free Report) by 93.9% in the third quarter, HoldingsChannel.com reports. The fund owned 11,193 shares of the company’s stock after purchasing an additional 5,419 shares during the quarter. Partners Wealth Management LLC’s holdings in Procter & Gamble were worth $1,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently modified their holdings of PG. Baxter Bros Inc. acquired a new stake in Procter & Gamble during the 2nd quarter valued at $12,381,000. Empowered Funds LLC bought a new position in Procter & Gamble during the second quarter worth $53,549,000. Bank of America Corp DE acquired a new position in shares of Procter & Gamble in the second quarter valued at $3,850,628,000. Capstone Capital Management Ltd acquired a new position in shares of Procter & Gamble in the third quarter valued at $991,000. Finally, Rokos Capital Management LLP bought a new position in shares of Procter & Gamble in the first quarter valued at about $29,914,000. Institutional investors own 65.77% of the company’s stock.
Wall Street Analysts Forecast Growth
PG has been the subject of a number of research reports. BNP Paribas Exane raised their target price on shares of Procter & Gamble from $177.00 to $189.00 and gave the stock an “outperform” rating in a research note on Friday, October 23rd. TD Cowen lifted their target price on shares of Procter & Gamble from $150.00 to $166.00 and gave the stock a “hold” rating in a report on Friday, October 23rd. Citigroup upped their price target on shares of Procter & Gamble from $180.00 to $187.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Morgan Stanley increased their price target on shares of Procter & Gamble from $166.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, October 23rd. Finally, Argus downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Friday, August 7th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $170.57.
Check Out Our Latest Stock Analysis on Procter & Gamble
Procter & Gamble Price Performance
NYSE:PG opened at $160.48 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.53 and a current ratio of 0.72. The firm has a market cap of $371.95 billion, a price-to-earnings ratio of 24.17, a P/E/G ratio of 3.89 and a beta of 0.39. Procter & Gamble Company has a 52 week low of $137.62 and a 52 week high of $167.25. The firm’s 50-day simple moving average is $149.62 and its 200 day simple moving average is $148.85.
Procter & Gamble (NYSE:PG – Get Free Report) last announced its earnings results on Thursday, October 22nd. The company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.89 by $0.11. Procter & Gamble had a net margin of 18.23% and a return on equity of 31.02%. The company had revenue of $23.28 billion for the quarter, compared to analysts’ expectations of $22.80 billion. During the same period last year, the firm earned $1.99 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, sell-side analysts predict that Procter & Gamble Company will post 6.99 earnings per share for the current year.
Procter & Gamble Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Friday, October 23rd will be given a dividend of $1.0885 per share. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $4.35 dividend on an annualized basis and a yield of 2.7%. Procter & Gamble’s dividend payout ratio is currently 65.51%.
Insider Buying and Selling at Procter & Gamble
In other Procter & Gamble news, CEO Shailesh Jejurikar sold 35,000 shares of the firm’s stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $163.09, for a total transaction of $5,708,150.00. Following the transaction, the chief executive officer owned 55,391 shares in the company, valued at $9,033,718.19. This trade represents a 38.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Balaji Purushothaman sold 4,181 shares of Procter & Gamble stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $160.71, for a total value of $671,928.51. Following the completion of the transaction, the insider directly owned 11,296 shares of the company’s stock, valued at $1,815,380.16. This represents a 27.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 58,647 shares of company stock valued at $9,268,508 over the last ninety days. 0.23% of the stock is owned by corporate insiders.
Procter & Gamble News Summary
Here are the key news stories impacting Procter & Gamble this week:
- Positive Sentiment: Quarterly beat supports the stock: P&G reported earnings of $2.00 per share versus the $1.89 consensus estimate, while revenue of $23.28 billion exceeded expectations. Sales increased 4% year over year, helping reinforce confidence in the company’s growth outlook. What Did Procter & Gamble’s Latest Quarter Change for Its Stock?
- Positive Sentiment: Analyst upgrade adds support: Freedom Broker raised its rating on PG from “hold” to “buy,” signaling increased confidence in the company’s earnings durability and valuation potential. Freedom Broker upgrades Procter & Gamble to buy from hold
- Positive Sentiment: Revenue growth and dividend appeal remain key attractions: Organic sales rose 4%, with much of the gain coming from higher product volumes. P&G’s portfolio of leading brands and long dividend history continue to appeal to income-focused investors. Procter & Gamble is Accelerating Revenue Growth as its Costs are Rising
- Neutral Sentiment: New bond issuance highlights financing strategy: P&G tapped euro and dollar markets with fixed-rate notes, providing funding flexibility but also adding debt obligations. The issuance puts greater focus on the company’s balance sheet and already elevated valuation. Procter & Gamble Bond Sale Puts Its Pricey Valuation Narrative In Focus
- Negative Sentiment: Cost inflation and mixed ratings temper optimism: Rising commodity and operating costs could pressure margins, while DZ Bank downgraded PG from “strong-buy” to “hold.” ETF net selling also represents a modest technical headwind. How Is Procter & Gamble Handling Commodity Costs After Its Report?
Procter & Gamble Company Profile
Procter & Gamble Company (NYSE: PG) is a global consumer products company that develops, manufactures and markets branded products used in households and personal care. Its portfolio includes personal health and grooming products, beauty and skin care items, baby, feminine and family care products, fabric and home care products, and oral care products.
The company’s well-known brands include Pampers, Tide, Gillette, Crest, Oral-B, Head & Shoulders, Pantene, Olay, Old Spice, Dawn, Febreze and Mr.
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Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Procter & Gamble Company (The) (NYSE:PG – Free Report).
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