Fortitude Family Office LLC Decreases Holdings in The Procter & Gamble Company (NYSE:PG)

Fortitude Family Office LLC cut its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 51.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,687 shares of the company’s stock after selling 2,799 shares during the quarter. Fortitude Family Office LLC’s holdings in Procter & Gamble were worth $458,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PG. Truist Financial decreased their price objective on Procter & Gamble from $185.00 to $180.00 and set a “buy” rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. decreased their price objective on Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Redburn Partners set a $161.00 price objective on Procter & Gamble in a report on Thursday, May 1st. Morgan Stanley set a $180.00 price objective on Procter & Gamble and gave the company an “overweight” rating in a report on Friday, April 25th. Finally, Evercore ISI reissued an “outperform” rating and set a $190.00 price objective (up from $170.00) on shares of Procter & Gamble in a report on Tuesday, June 3rd. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Procter & Gamble presently has a consensus rating of “Moderate Buy” and an average target price of $178.86.

Procter & Gamble Stock Down 0.4%

PG stock opened at $162.19 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a twelve month low of $156.58 and a twelve month high of $180.43. The company’s 50 day moving average is $163.64 and its two-hundred day moving average is $167.05. The stock has a market cap of $380.25 billion, a P/E ratio of 25.83, a PEG ratio of 3.76 and a beta of 0.43.

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

Procter & Gamble Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders 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 2.61%. The ex-dividend date was Monday, April 21st. Procter & Gamble’s payout ratio is presently 66.98%.

Insiders Place Their Bets

In related news, CEO Jennifer L. Davis sold 1,000 shares of the business’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total value of $161,380.00. Following the completion of the transaction, the chief executive officer now owns 51,965 shares of the company’s stock, valued at approximately $8,386,111.70. The trade was a 1.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the transaction, the insider now owns 25,182 shares in the company, valued at approximately $3,995,627.94. The trade was a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

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.