Summit Global Investments boosted its holdings in shares of Procter & Gamble Company (The) (NYSE:PG – Free Report) by 47.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 20,089 shares of the company’s stock after buying an additional 6,472 shares during the period. Summit Global Investments’ holdings in Procter & Gamble were worth $2,919,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of PG. Sagace Wealth Management LLC lifted its position in Procter & Gamble by 12.8% in the 3rd quarter. Sagace Wealth Management LLC now owns 2,039 shares of the company’s stock worth $296,000 after buying an additional 232 shares in the last quarter. Americana Partners LLC boosted its stake in shares of Procter & Gamble by 4.5% during the 3rd quarter. Americana Partners LLC now owns 80,071 shares of the company’s stock valued at $11,633,000 after buying an additional 3,412 shares during the period. Fusion Capital LLC grew its holdings in shares of Procter & Gamble by 9.4% during the 3rd quarter. Fusion Capital LLC now owns 2,056 shares of the company’s stock valued at $299,000 after acquiring an additional 177 shares in the last quarter. State of Wyoming purchased a new position in shares of Procter & Gamble during the 3rd quarter valued at $87,000. Finally, CFC Planning Co LLC acquired a new position in shares of Procter & Gamble in the third quarter worth $8,603,000. 65.77% of the stock is owned by hedge funds and other institutional investors.
More Procter & Gamble News
Here are the key news stories impacting Procter & Gamble this week:
- Positive Sentiment: Analyst upgrade: Freedom Broker upgraded PG from “hold” to “buy,” providing a positive signal for the stock and reflecting greater confidence in the company’s outlook. Freedom Broker upgrades Procter & Gamble to buy from hold
- Positive Sentiment: Dividend appeal remains strong: Articles highlighted PG as a long-standing dividend leader, supporting its appeal to income-focused and defensive investors. The company’s record of dividend increases may help underpin demand for the shares, particularly when investors favor stable consumer-staples businesses. Dividend Kings article Trusted dividend stocks article
- Neutral Sentiment: Bond issuance adds balance-sheet context: PG’s euro- and dollar-denominated bond sale provides liquidity and funding flexibility, but it also draws attention to leverage, interest costs, and the company’s relatively elevated valuation. Procter & Gamble bond sale
- Neutral Sentiment: Growth story under review: Commentary on PG points to accelerating revenue growth, while also noting that higher operating costs could pressure margins and earnings. Investors are weighing improved sales momentum against cost inflation. Procter & Gamble revenue growth and costs What changed in Procter & Gamble’s story
- Negative Sentiment: Mixed rating signals and valuation risk: DZ Bank downgraded PG from “strong-buy” to “hold.” With shares trading at a premium valuation, a more cautious analyst stance could weigh on upside unless earnings growth accelerates. DZ Bank rating change
- Negative Sentiment: Advertising challenge produced only a limited win: Following PG’s challenge, the National Advertising Division supported Carpe’s $19.95 reference price but recommended changes or removal of other savings, free-shipping, comparative-performance, and “first” 100-hour protection claims. The outcome may modestly strengthen competitive advertising standards, but it does not represent a material financial catalyst for PG. National Advertising Division decision involving Carpe
Insider Activity
In other Procter & Gamble news, insider Marc S. Pritchard sold 4,030 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $143.79, for a total value of $579,473.70. Following the completion of the sale, the insider owned 187,001 shares of the company’s stock, valued at $26,888,873.79. The trade was a 2.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Andre Schulten sold 3,914 shares of the company’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $145.34, for a total value of $568,860.76. Following the sale, the chief financial officer owned 65,618 shares of the company’s stock, valued at approximately $9,536,920.12. This trade represents a 5.63% decrease in their position. 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. Over the last three months, insiders sold 58,647 shares of company stock valued at $9,268,508. Corporate insiders own 0.23% of the company’s stock.
Procter & Gamble Stock Performance
PG stock opened at $161.42 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.72 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $374.14 billion, a price-to-earnings ratio of 24.31, a P/E/G ratio of 3.97 and a beta of 0.39. Procter & Gamble Company has a 12 month low of $137.62 and a 12 month high of $167.25. The firm has a 50 day moving average of $149.99 and a two-hundred day moving average of $148.94.
Procter & Gamble (NYSE:PG – Get Free Report) last announced its quarterly 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 company had revenue of $23.28 billion for the quarter, compared to analyst estimates of $22.80 billion. Procter & Gamble had a net margin of 18.23% and a return on equity of 31.02%. Procter & Gamble’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.99 EPS. As a group, equities analysts anticipate that Procter & Gamble Company will post 6.99 EPS for the current fiscal year.
Procter & Gamble Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Friday, October 23rd will be issued a $1.0885 dividend. The ex-dividend date is Friday, October 23rd. This represents a $4.35 dividend on an annualized basis and a yield of 2.7%. Procter & Gamble’s dividend payout ratio is currently 65.51%.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on PG. Argus lowered Procter & Gamble from a “buy” rating to a “hold” rating in a report on Friday, August 7th. Royal Bank Of Canada set a $169.00 price objective on Procter & Gamble in a research report on Friday, October 23rd. TD Cowen boosted their target price on Procter & Gamble from $150.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, October 23rd. Evercore raised Procter & Gamble from an “in-line” rating to an “outperform” rating and set a $166.00 target price on the stock in a research report on Tuesday, October 6th. Finally, Wells Fargo & Company raised their price target on Procter & Gamble from $164.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, October 23rd. Fifteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $170.57.
Read Our Latest Stock Report on Procter & Gamble
Procter & Gamble Profile
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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Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Procter & Gamble Company (The) (NYSE:PG – Free Report).
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