Pallas Capital Advisors LLC bought a new stake in Procter & Gamble Company (The) (NYSE:PG – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 100,064 shares of the company’s stock, valued at approximately $14,673,000.
Other large investors have also modified their holdings of the company. Norges Bank acquired a new position in Procter & Gamble in the 4th quarter valued at $4,664,783,000. Bank of New York Mellon Corp purchased a new position in Procter & Gamble during the 2nd quarter worth $2,281,505,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Procter & Gamble in the 2nd quarter worth $1,480,650,000. Cardano Risk Management B.V. lifted its stake in shares of Procter & Gamble by 1,104.8% in 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. Finally, Auto Owners Insurance Co boosted its holdings in shares of Procter & Gamble by 14,231.0% in the fourth quarter. Auto Owners Insurance Co now owns 3,549,645 shares of the company’s stock valued at $508,700,000 after acquiring an additional 3,524,876 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.
Procter & Gamble Trading Up 1.3%
Shares of Procter & Gamble stock opened at $144.77 on Friday. The company has a 50-day moving average of $147.73 and a two-hundred day moving average of $148.69. Procter & Gamble Company has a 12-month low of $137.62 and a 12-month high of $167.25. The company has a current ratio of 0.68, a quick ratio of 0.47 and a debt-to-equity ratio of 0.43. The stock has a market cap of $336.51 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 4.46 and a beta of 0.39.
Procter & Gamble Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, July 24th were given a $1.0885 dividend. The ex-dividend date was Friday, July 24th. This represents a $4.35 dividend on an annualized basis and a dividend yield of 3.0%. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.71%.
Wall Street Analysts Forecast Growth
PG has been the topic of a number of recent analyst reports. Sanford C. Bernstein started coverage on shares of Procter & Gamble in a research note on Thursday, June 11th. They set a “market perform” rating and a $156.00 price target on the stock. Bank of America lowered their price objective on Procter & Gamble from $170.00 to $166.00 and set a “buy” rating on the stock in a report on Friday, July 10th. Barclays boosted their target price on Procter & Gamble from $146.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Evercore set a $162.00 price target on Procter & Gamble in a report on Monday, April 27th. Finally, BMO Capital Markets lifted their price target on Procter & Gamble from $169.00 to $170.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, Procter & Gamble presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.52.
Get Our Latest Stock Analysis on Procter & Gamble
About Procter & Gamble
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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