CX Institutional Reduces Stock Holdings in The Procter & Gamble Company (NYSE:PG)

CX Institutional lessened its stake in The Procter & Gamble Company (NYSE:PG) by 5.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,150 shares of the company’s stock after selling 5,751 shares during the quarter. CX Institutional’s holdings in Procter & Gamble were worth $16,556,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Procter & Gamble by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 229,794,073 shares of the company’s stock worth $38,524,976,000 after purchasing an additional 1,592,061 shares during the last quarter. Geode Capital Management LLC raised its stake in Procter & Gamble by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 56,472,195 shares of the company’s stock valued at $9,457,000,000 after buying an additional 1,267,419 shares in the last quarter. Norges Bank acquired a new position in shares of Procter & Gamble in the 4th quarter worth approximately $5,244,463,000. Northern Trust Corp increased its holdings 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 valued at $4,928,107,000 after acquiring an additional 2,703,757 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Procter & Gamble by 6.4% during the 4th quarter. Franklin Resources Inc. now owns 20,197,996 shares of the company’s stock valued at $3,386,194,000 after acquiring an additional 1,209,275 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Price Performance

NYSE PG opened at $162.68 on Wednesday. The Procter & Gamble Company has a 1 year low of $156.58 and a 1 year high of $180.43. The stock’s 50-day moving average price is $163.67 and its two-hundred day moving average price is $167.08. The company has a market cap of $381.40 billion, a PE ratio of 25.90, a PEG ratio of 3.76 and a beta of 0.43. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.53 by $0.01. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business had revenue of $19.78 billion during the quarter, compared to the consensus estimate of $20.42 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. On average, analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were given a dividend of $1.0568 per share. The ex-dividend date was Monday, April 21st. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.01. This represents a $4.23 dividend on an annualized basis and a yield of 2.60%. Procter & Gamble’s dividend payout ratio (DPR) is presently 66.98%.

Insider Activity

In other news, CEO Jennifer L. Davis sold 1,000 shares of the firm’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total transaction of $161,380.00. Following the transaction, the chief executive officer now owns 51,965 shares in the company, valued at approximately $8,386,111.70. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $158.67, for a total value of $1,669,208.40. Following the transaction, the insider now owns 25,182 shares in the company, valued at approximately $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PG has been the subject of several recent research reports. Bank of America lowered their target price on shares of Procter & Gamble from $190.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Evercore ISI reissued an “outperform” rating and issued a $190.00 target price (up previously from $170.00) on shares of Procter & Gamble in a report on Tuesday, June 3rd. Citigroup dropped their price target on Procter & Gamble from $200.00 to $181.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Redburn Atlantic downgraded Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 price objective for the company. in a research note on Thursday, May 1st. Finally, Piper Sandler increased their target price on Procter & Gamble from $160.00 to $164.00 and gave the stock a “neutral” rating in a research report on Monday, May 5th. Eight analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.86.

About Procter & Gamble

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.