Procter & Gamble Company (The) (NYSE:PG) Stake Cut by Parthenon LLC

Parthenon LLC reduced its holdings in Procter & Gamble Company (The) (NYSE:PG) by 0.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 145,398 shares of the company’s stock after selling 95 shares during the quarter. Procter & Gamble accounts for about 3.0% of Parthenon LLC’s investment portfolio, making the stock its 7th largest position. Parthenon LLC’s holdings in Procter & Gamble were worth $24,779,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in Procter & Gamble by 51.5% in the fourth quarter. Brighton Jones LLC now owns 40,068 shares of the company’s stock worth $6,717,000 after acquiring an additional 13,617 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of Procter & Gamble by 493.6% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 341,750 shares of the company’s stock worth $57,294,000 after purchasing an additional 284,174 shares during the last quarter. Proficio Capital Partners LLC raised its stake in shares of Procter & Gamble by 50.4% in the fourth quarter. Proficio Capital Partners LLC now owns 10,360 shares of the company’s stock worth $1,737,000 after purchasing an additional 3,472 shares during the last quarter. IMG Wealth Management Inc. purchased a new position in shares of Procter & Gamble in the fourth quarter worth $85,000. Finally, Rockport Wealth LLC raised its stake in shares of Procter & Gamble by 4.8% in the fourth quarter. Rockport Wealth LLC now owns 3,186 shares of the company’s stock worth $535,000 after purchasing an additional 147 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. 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 report on Friday, April 11th. Redburn Atlantic cut Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 price objective for the company. in a research report on Thursday, May 1st. Piper Sandler upped their price objective on Procter & Gamble from $160.00 to $164.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Raymond James Financial reduced their price objective on Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Finally, Citigroup reduced their price objective on Procter & Gamble from $200.00 to $181.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Nine investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus price target of $177.45.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction that occurred 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 transaction, the insider owned 25,182 shares in the company, 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 SEC, which can be accessed through this hyperlink. 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 transaction, the chief executive officer owned 51,965 shares in the company, valued at $8,386,111.70. This represents a 1.89% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Procter & Gamble Stock Down 2.1%

Procter & Gamble stock opened at $153.80 on Tuesday. 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 business’s 50-day simple moving average is $161.67 and its two-hundred day simple moving average is $164.77. The company has a market cap of $360.59 billion, a PE ratio of 24.41, a PEG ratio of 4.47 and a beta of 0.40. Procter & Gamble Company has a fifty-two week low of $152.86 and a fifty-two week high of $180.43.

Procter & Gamble (NYSE:PG) last issued its earnings results on Thursday, April 24th. The company reported $1.54 EPS for the quarter, topping 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 firm had revenue of $19.78 billion for the quarter, compared to the consensus estimate of $20.42 billion. During the same quarter in the prior year, the business earned $1.52 earnings per share. The company’s revenue was down 2.1% compared to the same quarter last year. Equities analysts anticipate that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be paid a $1.0568 dividend. The ex-dividend date is Friday, July 18th. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.75%. Procter & Gamble’s payout ratio is 66.98%.

Procter & Gamble 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.