Cushing Capital Partners LLC Purchases 513 Shares of Procter & Gamble Company (The) (NYSE:PG)

Cushing Capital Partners LLC increased its position in shares of Procter & Gamble Company (The) (NYSE:PG) by 8.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,442 shares of the company’s stock after buying an additional 513 shares during the period. Cushing Capital Partners LLC’s holdings in Procter & Gamble were worth $1,098,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Procter & Gamble during the 4th quarter worth approximately $5,244,463,000. GAMMA Investing LLC lifted its position in shares of Procter & Gamble by 20,758.5% during the 1st quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company’s stock valued at $1,355,087,000 after acquiring an additional 7,913,335 shares during the period. Raymond James Financial Inc. bought a new position in Procter & Gamble during the fourth quarter worth $1,010,685,000. Bank Julius Baer & Co. Ltd Zurich increased its stake in Procter & Gamble by 1,195.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock valued at $580,596,000 after purchasing an additional 2,973,757 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Procter & Gamble by 62.5% during the fourth quarter. Capital Research Global Investors now owns 7,398,120 shares of the company’s stock valued at $1,240,294,000 after purchasing an additional 2,846,560 shares during the period. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Trading Down 1.5%

NYSE:PG opened at $158.53 on Wednesday. Procter & Gamble Company has a 52 week low of $156.58 and a 52 week high of $180.43. The firm has a 50-day moving average price of $163.73 and a two-hundred day moving average price of $166.46. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.71. The firm has a market cap of $371.67 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 4.74 and a beta of 0.43.

Procter & Gamble (NYSE:PG) last issued its quarterly 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 return on equity of 32.67% and a net margin of 18.46%. The company had revenue of $19.78 billion during the quarter, compared to the consensus estimate of $20.42 billion. During the same period last year, the business posted $1.52 earnings per share. Procter & Gamble’s revenue was down 2.1% on a year-over-year basis. On average, equities analysts expect that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were paid a dividend of $1.0568 per share. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.67%. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. The ex-dividend date was Monday, April 21st. Procter & Gamble’s payout ratio is presently 67.14%.

Analysts Set New Price Targets

Several analysts have recently commented on PG shares. Evercore ISI restated an “outperform” rating and issued a $190.00 target price (up from $170.00) on shares of Procter & Gamble in a research note on Tuesday, June 3rd. Redburn Partners set a $161.00 price target on Procter & Gamble in a report on Thursday, May 1st. JPMorgan Chase & Co. reduced their price objective on Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Redburn Atlantic lowered Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 target price on the stock. in a research report on Thursday, May 1st. Finally, Bank of America reduced their price target on shares of Procter & Gamble from $190.00 to $180.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Eight analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and an average target price of $178.86.

Insider Buying and Selling

In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction on 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 completion of the transaction, the insider now directly owns 25,182 shares of the company’s stock, valued at approximately $3,995,627.94. This represents a 29.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jennifer L. Davis sold 1,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

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.