Chicago Capital LLC Raises Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Chicago Capital LLC grew its holdings in The Procter & Gamble Company (NYSE:PG) by 7.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,577 shares of the company’s stock after buying an additional 2,793 shares during the quarter. Chicago Capital LLC’s holdings in Procter & Gamble were worth $6,574,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Procter & Gamble by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 229,794,073 shares of the company’s stock worth $38,524,976,000 after buying an additional 1,592,061 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Procter & Gamble by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 56,472,195 shares of the company’s stock worth $9,457,000,000 after acquiring an additional 1,267,419 shares during the last quarter. Norges Bank purchased a new stake in shares of Procter & Gamble during the fourth quarter worth approximately $5,244,463,000. Northern Trust Corp raised its stake in Procter & Gamble by 10.1% in the 4th quarter. Northern Trust Corp now owns 29,395,208 shares of the company’s stock valued at $4,928,107,000 after purchasing an additional 2,703,757 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Procter & Gamble by 6.4% in the 4th quarter. Franklin Resources Inc. now owns 20,197,996 shares of the company’s stock valued at $3,386,194,000 after purchasing an additional 1,209,275 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Procter & Gamble

In related news, CEO Jennifer L. Davis sold 1,000 shares of the 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 $8,386,111.70. This represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of Procter & Gamble stock in a transaction on Monday, May 5th. The shares were sold at an average price of $158.67, for a total value of $1,669,208.40. Following the transaction, the insider now directly owns 25,182 shares of the company’s stock, 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. Corporate insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Up 0.3%

Shares of Procter & Gamble stock opened at $160.79 on Tuesday. The Procter & Gamble Company has a 12-month low of $156.58 and a 12-month high of $180.43. The stock’s fifty day moving average is $163.81 and its 200-day moving average is $166.51. The firm has a market capitalization of $376.99 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 3.76 and a beta of 0.43. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last issued 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 net margin of 18.35% and a return on equity of 33.00%. The firm had revenue of $19.78 billion for the quarter, compared to analyst estimates of $20.42 billion. During the same quarter last year, the firm earned $1.52 earnings per share. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. Equities analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Monday, April 21st. This is an increase from Procter & Gamble’s previous quarterly dividend of $1.01. This represents a $4.23 dividend on an annualized basis and a yield of 2.63%. Procter & Gamble’s dividend payout ratio (DPR) is 66.98%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PG shares. Truist Financial dropped their target price on shares of Procter & Gamble from $185.00 to $180.00 and set a “buy” rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. reduced their price objective on Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Evercore ISI reiterated an “outperform” rating and set a $190.00 price target (up previously from $170.00) on shares of Procter & Gamble in a report on Tuesday, June 3rd. Royal Bank of Canada raised shares of Procter & Gamble from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $164.00 to $177.00 in a report on Friday, April 25th. Finally, Raymond James decreased their target price on shares of Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Eight investment 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 MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.86.

About Procter & Gamble

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.