Cornerstone Capital Inc. Acquires 3,905 Shares of The Procter & Gamble Company (NYSE:PG)

Cornerstone Capital Inc. lifted its position in shares of The Procter & Gamble Company (NYSE:PG) by 7.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,430 shares of the company’s stock after acquiring an additional 3,905 shares during the period. Cornerstone Capital Inc.’s holdings in Procter & Gamble were worth $8,958,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Howard Capital Management Group LLC boosted its stake in Procter & Gamble by 1.0% during the third quarter. Howard Capital Management Group LLC now owns 8,327 shares of the company’s stock worth $1,442,000 after acquiring an additional 82 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Procter & Gamble by 14.7% in the third quarter. Principal Financial Group Inc. now owns 4,734,588 shares of the company’s stock valued at $820,031,000 after buying an additional 608,168 shares in the last quarter. Garden State Investment Advisory Services LLC bought a new stake in Procter & Gamble during the 3rd quarter worth approximately $201,000. Invst LLC grew its holdings in Procter & Gamble by 0.7% during the third quarter. Invst LLC now owns 15,889 shares of the company’s stock worth $2,752,000 after buying an additional 103 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Procter & Gamble during the 3rd quarter worth $1,632,000. Institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Performance

Procter & Gamble stock opened at $170.59 on Friday. The company has a market cap of $400.01 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 3.76 and a beta of 0.43. The Procter & Gamble Company has a twelve month low of $153.52 and a twelve month high of $180.43. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $168.39 and its 200-day moving average price is $168.51.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.86 by $0.02. The company had revenue of $21.88 billion for the quarter, compared to the consensus estimate of $21.66 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. Procter & Gamble’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.84 EPS. On average, equities research analysts forecast that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, April 21st will be given a dividend of $1.0568 per share. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a yield of 2.48%. Procter & Gamble’s dividend payout ratio is presently 67.20%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. UBS Group reaffirmed a “buy” rating on shares of Procter & Gamble in a report on Monday, February 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a report on Thursday, January 23rd. Barclays reissued an “equal weight” rating on shares of Procter & Gamble in a research note on Thursday, March 27th. DA Davidson reaffirmed a “buy” rating and set a $209.00 price objective on shares of Procter & Gamble in a report on Thursday, January 23rd. Finally, Piper Sandler cut their target price on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.50.

Insiders Place Their Bets

In related news, insider Marc S. Pritchard sold 90,450 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the transaction, the insider now directly owns 172,814 shares in the company, valued at approximately $28,313,845.76. The trade was a 34.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Gary A. Coombe sold 35,000 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the completion of the sale, the chief executive officer now owns 22,051 shares of the company’s stock, valued at approximately $3,829,817.68. The trade was a 61.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 143,450 shares of company stock valued at $23,988,008. Insiders own 0.18% of the company’s stock.

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.