Cove Private Wealth LLC Grows Stake in Procter & Gamble Company (The) (NYSE:PG)

Cove Private Wealth LLC lifted its position in Procter & Gamble Company (The) (NYSE:PG) by 139.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,310 shares of the company’s stock after buying an additional 2,510 shares during the period. Cove Private Wealth LLC’s holdings in Procter & Gamble were worth $735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Northern Trust Corp boosted its stake in shares of Procter & Gamble by 10.1% in the 4th quarter. Northern Trust Corp now owns 29,395,208 shares of the company’s stock worth $4,928,107,000 after buying an additional 2,703,757 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Procter & Gamble by 3.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 17,405,539 shares of the company’s stock worth $2,966,252,000 after buying an additional 583,629 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Procter & Gamble by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 17,090,898 shares of the company’s stock worth $2,911,989,000 after buying an additional 208,991 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Procter & Gamble by 15.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,274,563 shares of the company’s stock valued at $2,728,430,000 after purchasing an additional 2,224,912 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Procter & Gamble by 19.8% during the first quarter. Invesco Ltd. now owns 13,493,604 shares of the company’s stock valued at $2,299,580,000 after purchasing an additional 2,228,151 shares in the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Price Performance

Shares of Procter & Gamble stock opened at $153.55 on Monday. Procter & Gamble Company has a 52 week low of $149.91 and a 52 week high of $180.43. The company has a quick ratio of 0.49, a current ratio of 0.70 and a debt-to-equity ratio of 0.49. The stock’s 50-day simple moving average is $158.26 and its 200-day simple moving average is $163.66. The company has a market capitalization of $359.67 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 4.05 and a beta of 0.37.

Procter & Gamble (NYSE:PG) last issued its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.06. Procter & Gamble had a return on equity of 32.69% and a net margin of 18.95%. The firm had revenue of $20.89 billion for the quarter, compared to analysts’ expectations of $20.79 billion. During the same period in the previous year, the firm posted $1.40 earnings per share. The business’s revenue was up 1.7% compared to the same quarter last year. As a group, analysts expect that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be issued a $1.0568 dividend. This represents a $4.23 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, July 18th. Procter & Gamble’s payout ratio is 64.98%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PG shares. Erste Group Bank downgraded Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 30th. Evercore ISI reiterated an “in-line” rating and set a $170.00 target price (down from $190.00) on shares of Procter & Gamble in a research report on Monday, July 14th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $170.00 target price (down from $178.00) on shares of Procter & Gamble in a research report on Friday, July 25th. UBS Group set a $180.00 target price on Procter & Gamble and gave the company a “buy” rating in a research report on Wednesday, July 30th. Finally, Redburn Atlantic downgraded 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. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average price target of $175.88.

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.