Retirement Planning Group reduced its stake in The Procter & Gamble Company (NYSE:PG – Get a rating) by 25.1% in the first quarter, Participation channel reports. The institutional investor held 2,678 shares of the company after selling 898 shares during the quarter. Retirement Planning Group’s holdings in Procter & Gamble were worth $409,000 when it last filed with the SEC.
A number of other hedge funds have also recently increased or reduced their stakes in PG. Norges Bank acquired a new stake in Procter & Gamble in Q4 worth approximately $3,726,603,000. GQG Partners LLC acquired a new position in shares of Procter & Gamble during the 4th quarter at a value of $1,231,791,000. BlackRock Inc. increased its stake in Procter & Gamble shares by 1.2% during the 4th quarter. BlackRock Inc. now owns 156,813,285 shares of the company worth $25,651,517,000 after purchasing an additional 1,785,863 shares in the last quarter. State Street Corp increased its stake in Procter & Gamble shares by 1.7% during the 4th quarter. State Street Corp now owns 105,458,164 shares of the company worth $17,250,846,000 after purchasing an additional 1,716,517 shares in the last quarter. Finally, Sanders Capital LLC increased its stake in Procter & Gamble shares by 22.3% during the 4th quarter. Sanders Capital LLC now owns 8,398,383 shares of the company worth $1,535,692,000 after purchasing an additional 1,532,184 shares in the last quarter. Institutional investors hold 63.64% of the company’s shares.
In other Procter & Gamble news, Chairman David S. Taylor sold 60,000 shares of the company in a transaction dated Thursday, April 21. The shares were sold at an average price of $164.52, for a total value of $9,871,200.00. Following the completion of the sale, the president now owns 253,933 shares of the company, valued at approximately $41,777,057.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this hyperlink. Also, CEO Mom. Fatima Francisco sold 18,000 shares of the company in a transaction dated Thursday, April 21. The shares were sold at an average price of $164.10, for a total transaction of $2,953,800.00. Following the completion of the sale, the CEO now owns 7,020 shares of the company, valued at approximately $1,151,982. Disclosure of this sale can be found here. Insiders sold a total of 108,415 shares of the company valued at $17,777,055 in the past three months. 0.51% of the shares are currently held by insiders.
NYSE:PG opened at $143.79 on Friday. The company has a 50-day moving average of $147.61 and a 200-day moving average of $153.99. The company has a market capitalization of $344.99 billion, a price/earnings ratio of 25.09, a PEG ratio of 4.08 and a beta of 0.40. The Procter & Gamble company has a 52 week low of $129.50 and a 52 week high of $165.35. The company has a debt ratio of 0.53, a quick ratio of 0.47 and a current ratio of 0.68.
Procter & Gamble (NYSE:PG – Get a rating) last announced its quarterly results on Wednesday, April 20. The company reported earnings per share (EPS) of $1.33 for the quarter, beating the consensus estimate of $1.28 by $0.05. Procter & Gamble had a net margin of 18.33% and a return on equity of 32.39%. The company posted revenue of $19.38 billion in the quarter, versus a consensus estimate of $18.69 billion. During the same period last year, the company posted EPS of $1.26. The company’s quarterly revenue increased 7.0% year over year. Sell-side analysts expect The Procter & Gamble Company to post EPS of 5.84 for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, May 16. Investors of record on Friday, April 22 received a dividend of $0.9133 per share. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.87. This represents an annualized dividend of $3.65 and a yield of 2.54%. The ex-dividend date was Thursday, April 21. Procter & Gamble’s dividend payout ratio (DPR) is currently 63.70%.
Several research analysts have recently commented on PG shares. JPMorgan Chase & Co. downgraded Procter & Gamble shares from an “overweight” rating to a “neutral” rating and lowered its price target for the stock from $181.00 to $165.00 in a note research on Wednesday, March 30. Goldman Sachs Group lowered its target price on Procter & Gamble shares from $179.00 to $173.00 in a Tuesday, March 29 research note. Credit Suisse Group raised its price target on Procter & Gamble shares from $140.00 to $150.00 and gave the company a “neutral” rating in a Thursday, April 21 research note. Truist Financial upgraded Procter & Gamble shares from a “hold” rating to a “buy” rating and raised its target price for the company from $165.00 to $175.00 in a Tuesday 22 research note. march. Finally, Wells Fargo & Company lowered its price target on Procter & Gamble stock from $180.00 to $170.00 and set an “overweight” rating on the stock in a Wednesday, May 1 research note. June. Five analysts gave the stock a hold rating and ten gave the company a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.64.
About Procter & Gamble (Get a rating)
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North and Latin America, Europe, Asia-Pacific, Greater China, India, the Middle East and from Africa. It operates in five segments: Beauty; Grooming; Health care; Fabric and home care; and baby, woman and family care.
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