Bank of Nova Scotia Cuts Stock Holdings in Procter & Gamble Company (The) $PG

Bank of Nova Scotia lessened its stake in Procter & Gamble Company (The) (NYSE:PG) by 45.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 589,838 shares of the company’s stock after selling 483,863 shares during the period. Bank of Nova Scotia’s holdings in Procter & Gamble were worth $86,512,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PG. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Procter & Gamble by 1,000.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 165 shares of the company’s stock valued at $25,000 after buying an additional 150 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Procter & Gamble in the 2nd quarter valued at about $26,000. Litman Gregory Wealth Management LLC bought a new stake in shares of Procter & Gamble in the 4th quarter valued at about $26,000. Park Square Financial Group LLC boosted its holdings in Procter & Gamble by 65.1% during the 4th quarter. Park Square Financial Group LLC now owns 180 shares of the company’s stock valued at $26,000 after acquiring an additional 71 shares during the period. Finally, Evolution Wealth Management Inc. grew its position in Procter & Gamble by 1,315.4% during the 4th quarter. Evolution Wealth Management Inc. now owns 184 shares of the company’s stock worth $26,000 after acquiring an additional 171 shares during the last quarter. 65.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on PG. Royal Bank Of Canada reiterated an “outperform” rating on shares of Procter & Gamble in a research report on Wednesday, August 19th. HSBC reaffirmed a “hold” rating and issued a $149.00 target price (down from $182.00) on shares of Procter & Gamble in a research note on Thursday, July 30th. BMO Capital Markets increased their price target on shares of Procter & Gamble from $169.00 to $170.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Sanford C. Bernstein reissued a “market perform” rating and issued a $149.00 price target on shares of Procter & Gamble in a report on Monday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Procter & Gamble from $164.00 to $162.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus target price of $161.19.

Insider Transactions at Procter & Gamble

In related news, CAO Matthew W. Janzaruk sold 359 shares of Procter & Gamble stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $145.24, for a total transaction of $52,141.16. Following the completion of the transaction, the chief accounting officer directly owned 1,271 shares of the company’s stock, valued at $184,600.04. This trade represents a 22.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Marc S. Pritchard sold 4,030 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $143.79, for a total transaction of $579,473.70. Following the sale, the insider directly owned 187,001 shares in the company, valued at $26,888,873.79. The trade was a 2.11% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 6,627 shares of company stock valued at $953,417. Corporate insiders own 0.20% of the company’s stock.

Procter & Gamble Stock Performance

NYSE:PG opened at $145.02 on Thursday. The stock has a market cap of $337.09 billion, a P/E ratio of 21.91, a price-to-earnings-growth ratio of 4.48 and a beta of 0.39. The firm’s fifty day simple moving average is $147.41 and its 200 day simple moving average is $148.42. Procter & Gamble Company has a twelve month low of $137.62 and a twelve month 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 issued its quarterly earnings data on Wednesday, July 29th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.41 by $0.02. The business had revenue of $21.20 billion during the quarter, compared to analyst estimates of $21.38 billion. Procter & Gamble had a net margin of 18.44% and a return on equity of 31.36%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.48 EPS. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. As a group, research analysts predict that Procter & Gamble Company will post 6.98 EPS for the current year.

Procter & Gamble Announces Dividend

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