Pallas Capital Advisors LLC Grows Position in The Procter & Gamble Company (NYSE:PG)

Pallas Capital Advisors LLC grew its stake in shares of The Procter & Gamble Company (NYSE:PG) by 4.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 100,543 shares of the company’s stock after buying an additional 3,924 shares during the quarter. Procter & Gamble makes up 0.7% of Pallas Capital Advisors LLC’s holdings, making the stock its 22nd biggest holding. Pallas Capital Advisors LLC’s holdings in Procter & Gamble were worth $17,135,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PG. NewSquare Capital LLC raised its holdings in shares of Procter & Gamble by 933.3% in the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock worth $26,000 after purchasing an additional 140 shares during the period. Navigoe LLC purchased a new position in Procter & Gamble in the fourth quarter valued at approximately $31,000. Capital A Wealth Management LLC purchased a new position in Procter & Gamble in the fourth quarter valued at approximately $31,000. Hoey Investments Inc. lifted its position in Procter & Gamble by 321.7% during the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock valued at $33,000 after buying an additional 148 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA purchased a new stake in Procter & Gamble during the fourth quarter worth approximately $34,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PG. Erste Group Bank lowered shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 30th. Royal Bank of Canada raised Procter & Gamble from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $164.00 to $177.00 in a research report on Friday, April 25th. Piper Sandler upped their target price on Procter & Gamble from $160.00 to $164.00 and gave the stock a “neutral” rating in a research report on Monday, May 5th. Raymond James dropped their target price on Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Finally, Morgan Stanley set a $180.00 price target on Procter & Gamble and gave the stock an “overweight” rating in a report on Friday, April 25th. Eight analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $178.86.

Insiders Place Their Bets

In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 10,520 shares of Procter & Gamble stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $158.67, for a total value of $1,669,208.40. Following the completion of the transaction, the insider now directly owns 25,182 shares in the company, valued at $3,995,627.94. The trade was a 29.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jennifer L. Davis sold 1,000 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total value of $161,380.00. Following the sale, the chief executive officer now owns 51,965 shares in the company, valued at $8,386,111.70. The trade was a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Procter & Gamble Price Performance

PG opened at $164.01 on Monday. The company has a market capitalization of $384.53 billion, a P/E ratio of 26.12, a PEG ratio of 3.76 and a beta of 0.43. The company has a 50-day moving average of $164.01 and a 200-day moving average of $167.21. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The Procter & Gamble Company has a 1-year low of $156.58 and a 1-year high of $180.43.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.01. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The firm had revenue of $19.78 billion during the quarter, compared to analyst estimates of $20.42 billion. During the same period in the previous year, the company earned $1.52 earnings per share. Procter & Gamble’s quarterly revenue was down 2.1% on a year-over-year basis. Equities analysts expect that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, April 21st were given a dividend of $1.0568 per share. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.01. This represents a $4.23 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Monday, April 21st. Procter & Gamble’s dividend payout ratio is currently 66.98%.

Procter & Gamble Company Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.