Nippon Life Global Investors Americas Inc. Buys New Shares in Procter & Gamble Company (The) $PG

Nippon Life Global Investors Americas Inc. bought a new position in shares of Procter & Gamble Company (The) (NYSE:PG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 252,490 shares of the company’s stock, valued at approximately $37,025,000. Procter & Gamble accounts for 1.5% of Nippon Life Global Investors Americas Inc.’s holdings, making the stock its 22nd biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the business. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Procter & Gamble by 1,000.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 165 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares during the last quarter. Park Square Financial Group LLC boosted its position in shares of Procter & Gamble by 65.1% in the fourth quarter. Park Square Financial Group LLC now owns 180 shares of the company’s stock worth $26,000 after acquiring an additional 71 shares during the last quarter. Evolution Wealth Management Inc. grew its holdings in Procter & Gamble by 1,315.4% in the fourth quarter. Evolution Wealth Management Inc. now owns 184 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares during the period. Litman Gregory Wealth Management LLC acquired a new position in Procter & Gamble during the fourth quarter worth approximately $26,000. Finally, Basso Capital Management L.P. acquired a new position in Procter & Gamble during the fourth quarter worth approximately $28,000. 65.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Evercore set a $162.00 price target on shares of Procter & Gamble in a report on Monday, April 27th. Citigroup cut their target price on Procter & Gamble from $181.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Sanford C. Bernstein started coverage on Procter & Gamble in a report on Thursday, June 11th. They issued a “market perform” rating and a $156.00 target price on the stock. BMO Capital Markets boosted their price target on Procter & Gamble from $169.00 to $170.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Finally, BNP Paribas Exane cut their price objective on Procter & Gamble from $172.00 to $165.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $161.52.

Procter & Gamble Stock Down 1.0%

Shares of NYSE:PG opened at $143.00 on Friday. The company has a market capitalization of $332.39 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 4.45 and a beta of 0.39. The company has a 50 day moving average of $147.83 and a two-hundred day moving average of $148.72. Procter & Gamble Company has a 52-week low of $137.62 and a 52-week high of $167.25. The company has a quick ratio of 0.47, a current ratio of 0.68 and a debt-to-equity ratio of 0.43.

Procter & Gamble (NYSE:PG) last posted its earnings results on Wednesday, July 29th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.02. The business had revenue of $21.20 billion for the quarter, compared to analysts’ expectations of $21.38 billion. Procter & Gamble had a net margin of 18.44% and a return on equity of 31.36%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.48 earnings per share. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. As a group, analysts forecast that Procter & Gamble Company will post 6.98 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, July 24th were issued a $1.0885 dividend. The ex-dividend date was Friday, July 24th. This represents a $4.35 dividend on an annualized basis and a yield of 3.0%. Procter & Gamble’s payout ratio is currently 65.71%.

About Procter & Gamble

Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.