Maryland State Retirement & Pension System boosted its position in Procter & Gamble Company (The) (NYSE:PG – Free Report) by 13.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 143,169 shares of the company’s stock after buying an additional 17,483 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Procter & Gamble were worth $20,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently made changes to their positions in PG. Ritholtz Wealth Management grew its stake in shares of Procter & Gamble by 1.4% during the 3rd quarter. Ritholtz Wealth Management now owns 87,356 shares of the company’s stock worth $12,691,000 after acquiring an additional 1,173 shares during the period. UNIVEST FINANCIAL Corp raised its stake in Procter & Gamble by 7.5% in the 3rd quarter. UNIVEST FINANCIAL Corp now owns 25,497 shares of the company’s stock valued at $3,704,000 after acquiring an additional 1,781 shares during the period. NBH Bank raised its stake in Procter & Gamble by 3.6% in the 3rd quarter. NBH Bank now owns 11,831 shares of the company’s stock valued at $1,719,000 after acquiring an additional 409 shares during the period. Joel Isaacson & Co. LLC lifted its holdings in Procter & Gamble by 2.3% during the third quarter. Joel Isaacson & Co. LLC now owns 73,642 shares of the company’s stock valued at $10,699,000 after purchasing an additional 1,635 shares during the last quarter. Finally, Jacobi Capital Management LLC lifted its holdings in Procter & Gamble by 4.9% during the third quarter. Jacobi Capital Management LLC now owns 40,281 shares of the company’s stock valued at $5,852,000 after purchasing an additional 1,890 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on PG. TD Cowen increased their target price on shares of Procter & Gamble from $150.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, October 23rd. Piper Sandler boosted their price target on shares of Procter & Gamble from $145.00 to $167.00 and gave the company a “neutral” rating in a research report on Monday, October 26th. Barclays upped their price target on shares of Procter & Gamble from $152.00 to $165.00 and gave the company an “equal weight” rating in a research note on Monday, October 26th. Citigroup raised 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. Finally, DZ Bank lowered shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 27th. Fifteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $170.57.
Read Our Latest Research Report on PG
Procter & Gamble Stock Performance
NYSE:PG opened at $167.79 on Thursday. The business’s fifty day moving average is $153.39 and its 200 day moving average is $149.73. The firm has a market cap of $388.91 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 4.15 and a beta of 0.36. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.53 and a current ratio of 0.72. Procter & Gamble Company has a 52-week low of $137.62 and a 52-week high of $170.52.
Procter & Gamble (NYSE:PG – Get Free Report) last issued 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. The business had revenue of $23.28 billion during the quarter, compared to the consensus estimate of $22.80 billion. Procter & Gamble had a return on equity of 31.02% and a net margin of 18.23%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.99 EPS. Research analysts predict that Procter & Gamble Company will post 6.99 EPS for the current year.
Procter & Gamble Dividend Announcement
The company also recently declared 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. This represents a $4.35 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, October 23rd. Procter & Gamble’s dividend payout ratio is presently 65.51%.
Insider Buying and Selling
In other Procter & Gamble news, CEO Shailesh Jejurikar sold 35,000 shares of the stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $163.09, for a total value of $5,708,150.00. Following the sale, the chief executive officer directly owned 55,391 shares in the company, valued at $9,033,718.19. This represents a 38.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Andre Schulten sold 33,624 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $165.00, for a total transaction of $5,547,960.00. Following the transaction, the chief financial officer owned 65,618 shares of the company’s stock, valued at $10,826,970. This trade represents a 33.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 197,756 shares of company stock valued at $32,336,001 in the last three months. Insiders own 0.23% of the company’s stock.
Procter & Gamble Company Profile
The Procter & Gamble Company is a consumer goods company that develops, manufactures and markets products for everyday use. Founded in 1837 by William Procter and James Gamble, the company is headquartered in Cincinnati, Ohio. Its products span beauty, grooming, health care, fabric and home care, and baby, feminine and family care. Well-known brands include Tide, Pampers, Gillette, Pantene, Olay, Oral-B, Crest, Dawn, Charmin and Bounty. Procter & Gamble sells its products in markets around the world through retail stores, e-commerce platforms and other distribution channels.
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