QRG Capital Management Inc. boosted its position in Procter & Gamble Company (The) (NYSE:PG – Free Report) by 8.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 370,300 shares of the company’s stock after buying an additional 28,048 shares during the quarter. QRG Capital Management Inc.’s holdings in Procter & Gamble were worth $54,301,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Procter & Gamble during the 2nd quarter valued at about $27,862,105,000. State Street Corp grew its position in shares of Procter & Gamble by 1.0% during the 2nd quarter. State Street Corp now owns 102,216,308 shares of the company’s stock worth $14,988,999,000 after buying an additional 965,461 shares during the period. Geode Capital Management LLC grew its position in shares of Procter & Gamble by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 62,647,882 shares of the company’s stock worth $8,962,689,000 after buying an additional 1,974,556 shares during the period. Norges Bank bought a new stake in shares of Procter & Gamble during the fourth quarter worth approximately $4,664,783,000. Finally, Bank of America Corp DE bought a new stake in shares of Procter & Gamble during the second quarter worth approximately $3,850,628,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on PG. JPMorgan Chase & Co. reduced their price objective on shares of Procter & Gamble from $164.00 to $162.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Sanford C. Bernstein reiterated a “market perform” rating and set a $149.00 target price on shares of Procter & Gamble in a research report on Monday, August 24th. HSBC reissued a “hold” rating and issued a $149.00 price target (down from $182.00) on shares of Procter & Gamble in a research note on Thursday, July 30th. Argus cut Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. Finally, Jefferies Financial Group upped their price objective on Procter & Gamble from $177.00 to $179.00 and gave the company a “buy” rating in a report on Friday, June 26th. Thirteen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $161.55.
Procter & Gamble Trading Down 0.6%
PG traded down $0.85 during mid-day trading on Wednesday, hitting $147.37. The stock had a trading volume of 6,580,000 shares, compared to its average volume of 9,769,997. The stock’s fifty day simple moving average is $146.10 and its 200-day simple moving average is $146.38. The firm has a market capitalization of $342.30 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 3.63 and a beta of 0.39. 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 0.43, a current ratio of 0.68 and a quick ratio of 0.47.
Procter & Gamble (NYSE:PG – Get Free Report) last announced 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 firm had revenue of $21.20 billion for the quarter, compared to analyst estimates of $21.38 billion. Procter & Gamble had a net margin of 18.44% and a return on equity of 31.36%. The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.48 earnings per share. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. As a group, research analysts forecast that Procter & Gamble Company will post 6.99 EPS for the current fiscal year.
Procter & Gamble Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, July 24th were issued a $1.0885 dividend. The ex-dividend date was Friday, July 24th. This represents a $4.35 annualized dividend and a dividend yield of 3.0%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.71%.
Insider Activity
In other Procter & Gamble news, CAO Matthew Janzaruk sold 359 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $145.24, for a total value of $52,141.16. Following the completion of the transaction, the chief accounting officer directly owned 1,271 shares in the company, valued at $184,600.04. This trade represents a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Susan Whaley sold 2,238 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $143.79, for a total transaction of $321,802.02. Following the completion of the transaction, the insider directly owned 26,989 shares of the company’s stock, valued at $3,880,748.31. This represents a 7.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 6,627 shares of company stock worth $953,417 in the last quarter. Corporate insiders own 0.23% of the company’s stock.
Procter & Gamble Profile
Procter & Gamble Company is a global consumer products company that develops, manufactures and markets branded products used in households and personal care. Its portfolio spans beauty, grooming, health care, fabric and home care, and family care products.
The company’s brands include Tide, Ariel, Downy, Dawn, Febreze, Bounty, Charmin, Pampers, Gillette, Oral-B, Crest, Head & Shoulders, Olay and Pantene. These products are sold through retailers, e-commerce platforms and other distribution channels.
Procter & Gamble was founded in Cincinnati in 1837 by William Procter and James Gamble.
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