Beacon Pointe Advisors LLC acquired a new position in shares of Procter & Gamble Co (NYSE:PG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,943 shares of the company’s stock, valued at approximately $453,000.
Several other large investors have also recently made changes to their positions in PG. Bank of New York Mellon Corp grew its holdings in shares of Procter & Gamble by 5,578,292.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 24,377,577 shares of the company’s stock worth $2,028,947,000 after purchasing an additional 24,377,140 shares in the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of Procter & Gamble by 23.8% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 10,793,640 shares of the company’s stock worth $898,355,000 after purchasing an additional 2,078,176 shares in the last quarter. C WorldWide Group Holding A S grew its holdings in shares of Procter & Gamble by 125.1% during the 3rd quarter. C WorldWide Group Holding A S now owns 3,266,283 shares of the company’s stock worth $271,853,000 after purchasing an additional 1,815,368 shares in the last quarter. Morgan Stanley grew its holdings in shares of Procter & Gamble by 11.3% during the 3rd quarter. Morgan Stanley now owns 17,584,133 shares of the company’s stock worth $1,463,528,000 after purchasing an additional 1,784,225 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in Procter & Gamble by 46.2% in the 3rd quarter. Prudential Financial Inc. now owns 5,268,486 shares of the company’s stock valued at $438,496,000 after buying an additional 1,665,790 shares in the last quarter. 61.11% of the stock is currently owned by institutional investors.
Several brokerages recently commented on PG. Credit Suisse Group set a $100.00 price target on Procter & Gamble and gave the company a “hold” rating in a research note on Friday, May 10th. Deutsche Bank boosted their price target on Procter & Gamble from $100.00 to $106.00 and gave the company a “hold” rating in a research note on Wednesday, April 24th. Wells Fargo & Co raised Procter & Gamble from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $78.00 to $115.00 in a research note on Monday, April 8th. Morgan Stanley set a $111.00 price target on Procter & Gamble and gave the company a “buy” rating in a research note on Thursday, March 28th. Finally, Zacks Investment Research lowered Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $101.42.
In other Procter & Gamble news, Chairman David S. Taylor sold 23,045 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $107.95, for a total value of $2,487,707.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Valarie L. Sheppard sold 26,891 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $106.32, for a total value of $2,859,051.12. Following the completion of the transaction, the vice president now directly owns 51,323 shares in the company, valued at approximately $5,456,661.36. The disclosure for this sale can be found here. In the last three months, insiders sold 307,091 shares of company stock worth $32,383,647. Insiders own 1.84% of the company’s stock.
Procter & Gamble stock opened at $106.69 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.60 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $268.97 billion, a price-to-earnings ratio of 25.28, a price-to-earnings-growth ratio of 3.43 and a beta of 0.39. Procter & Gamble Co has a 52 week low of $72.80 and a 52 week high of $108.68.
Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.02. The company had revenue of $16.46 billion for the quarter, compared to analyst estimates of $16.37 billion. Procter & Gamble had a return on equity of 21.61% and a net margin of 16.44%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.00 earnings per share. Research analysts anticipate that Procter & Gamble Co will post 4.48 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th were paid a $0.7459 dividend. The ex-dividend date of this dividend was Wednesday, April 17th. This represents a $2.98 dividend on an annualized basis and a yield of 2.80%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.72. Procter & Gamble’s payout ratio is currently 70.62%.
Procter & Gamble Profile
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
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