Wealthfront Advisers LLC acquired a new position in Procter & Gamble Company (The) (NYSE:PG – Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 267,186 shares of the company’s stock, valued at approximately $39,180,000.
Other large investors have also recently added to or reduced their stakes in the company. Foster & Motley Inc. bought a new stake in Procter & Gamble during the 2nd quarter valued at $8,487,000. Strategic Wealth Advisors LLC bought a new position in shares of Procter & Gamble in the second quarter worth $93,000. Main Street Financial Solutions LLC increased its holdings in shares of Procter & Gamble by 11.9% during the second quarter. Main Street Financial Solutions LLC now owns 24,380 shares of the company’s stock valued at $3,575,000 after purchasing an additional 2,583 shares during the period. Rayburn West Financial Services LLC acquired a new position in shares of Procter & Gamble during the second quarter valued at $1,758,000. Finally, First National Bank of Omaha bought a new stake in shares of Procter & Gamble during the second quarter valued at about $17,788,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms recently weighed in on PG. BMO Capital Markets increased their target price on shares of Procter & Gamble from $169.00 to $170.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. HSBC restated a “hold” rating and set a $149.00 price target (down from $182.00) on shares of Procter & Gamble in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $163.00 price target on shares of Procter & Gamble in a research note on Monday, April 27th. Barclays raised their price objective on shares of Procter & Gamble from $146.00 to $152.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Procter & Gamble in a report on Wednesday, June 24th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.52.
Procter & Gamble Price Performance
NYSE:PG opened at $144.77 on Monday. The company has a quick ratio of 0.47, a current ratio of 0.68 and a debt-to-equity ratio of 0.43. The business’s 50-day moving average price is $147.73 and its 200 day moving average price is $148.66. Procter & Gamble Company has a 52-week low of $137.62 and a 52-week high of $167.25. The firm has a market cap of $336.51 billion, a P/E ratio of 21.87, a PEG ratio of 4.46 and a beta of 0.39.
Procter & Gamble (NYSE:PG – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.02. The company had revenue of $21.20 billion during the quarter, compared to the consensus estimate of $21.38 billion. Procter & Gamble had a net margin of 18.44% and a return on equity of 31.36%. Procter & Gamble’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.48 EPS. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. As a group, sell-side analysts predict that Procter & Gamble Company will post 6.98 earnings per share for the current fiscal year.
Procter & Gamble Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 24th were issued a dividend of $1.0885 per share. This represents a $4.35 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Friday, July 24th. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.71%.
Procter & Gamble Profile
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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