TSG Advice Partners LLC acquired a new position in Procter & Gamble Company (The) (NYSE:PG – Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,263 shares of the company’s stock, valued at approximately $772,000.
Other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Procter & Gamble during the second quarter worth approximately $27,862,105,000. State Street Corp boosted its holdings in Procter & Gamble by 1.0% in the 2nd quarter. State Street Corp now owns 102,216,308 shares of the company’s stock valued at $14,988,999,000 after purchasing an additional 965,461 shares during the period. Bank of America Corp DE bought a new stake in Procter & Gamble in the 2nd quarter valued at $3,850,628,000. Bank of New York Mellon Corp acquired a new stake in Procter & Gamble in the 2nd quarter worth $2,281,505,000. Finally, Dimensional Fund Advisors LP grew its position in Procter & Gamble by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 11,797,916 shares of the company’s stock worth $1,704,182,000 after purchasing an additional 300,280 shares during the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.
Procter & Gamble Stock Up 1.5%
Shares of PG stock opened at $163.99 on Tuesday. The stock has a market cap of $380.10 billion, a P/E ratio of 24.70, a price-to-earnings-growth ratio of 3.89 and a beta of 0.39. Procter & Gamble Company has a one year low of $137.62 and a one year high of $167.25. The stock has a fifty day moving average price of $150.37 and a 200 day moving average price of $149.04. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.72 and a quick ratio of 0.53.
Procter & Gamble (NYSE:PG – Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.11. The firm had revenue of $23.28 billion for the quarter, compared to the consensus estimate of $22.80 billion. Procter & Gamble had a net margin of 18.23% and a return on equity of 31.02%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.99 earnings per share. Analysts predict that Procter & Gamble Company will post 6.99 earnings per share for the current year.
Procter & Gamble Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 23rd will be given a dividend of $1.0885 per share. This represents a $4.35 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, October 23rd. Procter & Gamble’s payout ratio is 65.51%.
Insider Buying and Selling at Procter & Gamble
In other news, insider Balaji Purushothaman sold 4,181 shares of Procter & Gamble stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $160.71, for a total transaction of $671,928.51. Following the sale, the insider directly owned 11,296 shares in the company, valued at approximately $1,815,380.16. The trade was a 27.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul Gama sold 4,331 shares of the company’s stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $161.27, for a total transaction of $698,460.37. Following the completion of the sale, the chief executive officer directly owned 46,793 shares in the company, valued at approximately $7,546,307.11. The trade was a 8.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 58,647 shares of company stock worth $9,268,508 in the last 90 days. 0.23% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the stock. Citigroup boosted their price objective on shares of Procter & Gamble from $180.00 to $187.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Argus cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. Bank of America decreased their target price on Procter & Gamble from $170.00 to $166.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. The Goldman Sachs Group restated a “neutral” rating and set a $161.00 price target on shares of Procter & Gamble in a research note on Thursday, October 22nd. Finally, HSBC lowered Procter & Gamble from a “buy” rating to a “hold” rating and lowered their price target for the company from $182.00 to $149.00 in a research note on Thursday, July 30th. Fifteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.57.
Get Our Latest Research Report on Procter & Gamble
Procter & Gamble 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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