Tucker Asset Management LLC boosted its position in shares of Procter & Gamble Company (The) (NYSE:PG – Free Report) by 64.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 11,598 shares of the company’s stock after acquiring an additional 4,537 shares during the quarter. Tucker Asset Management LLC’s holdings in Procter & Gamble were worth $1,685,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Procter & Gamble during the second quarter worth approximately $26,000. Montgomery Financial Services LLC purchased a new stake in Procter & Gamble in the 2nd quarter valued at $28,000. Paladin Partners LLC acquired a new stake in Procter & Gamble during the 2nd quarter worth $29,000. Toews Corp ADV acquired a new stake in Procter & Gamble during the 2nd quarter worth $37,000. Finally, Evergreen Advisors LLC purchased a new position in Procter & Gamble during the 1st quarter worth $37,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have commented on the stock. Piper Sandler lifted their price objective on shares of Procter & Gamble from $145.00 to $167.00 and gave the company a “neutral” rating in a research note on Monday, October 26th. UBS Group set a $166.00 target price on shares of Procter & Gamble in a research note on Friday, October 23rd. Freedom Broker raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $176.00 price target on the stock in a report on Friday, October 23rd. Evercore upgraded Procter & Gamble from an “in-line” rating to an “outperform” rating and set a $166.00 price target on the stock in a research report on Tuesday, October 6th. Finally, Argus downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. Fifteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $170.57.
View Our Latest Stock Analysis on PG
Insiders Place Their Bets
In related news, CFO Andre Schulten sold 3,914 shares of the stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $145.34, for a total transaction of $568,860.76. Following the completion of the transaction, the chief financial officer directly owned 65,618 shares of the company’s stock, valued at $9,536,920.12. This represents a 5.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Paul Gama sold 4,331 shares of the firm’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 owned 46,793 shares of the company’s stock, valued at approximately $7,546,307.11. The trade was a 8.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 58,647 shares of company stock valued at $9,268,508. Corporate insiders own 0.23% of the company’s stock.
Procter & Gamble Price Performance
Shares of NYSE PG opened at $163.99 on Tuesday. The stock has a fifty day moving average price of $150.37 and a 200 day moving average price of $149.04. Procter & Gamble Company has a 1-year low of $137.62 and a 1-year high of $167.25. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.72 and a quick ratio of 0.53. The company has a market cap of $380.10 billion, a PE ratio of 24.70, a P/E/G ratio of 3.89 and a beta of 0.39.
Procter & Gamble (NYSE:PG – Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.11. The company had revenue of $23.28 billion for the quarter, compared to analysts’ expectations of $22.80 billion. Procter & Gamble had a net margin of 18.23% and a return on equity of 31.02%. Procter & Gamble’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.99 EPS. Sell-side analysts forecast that Procter & Gamble Company will post 6.99 EPS for the current year.
Procter & Gamble Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 23rd will be issued a $1.0885 dividend. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $4.35 annualized dividend and a dividend yield of 2.7%. Procter & Gamble’s payout ratio is presently 65.51%.
About Procter & Gamble
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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