Ballast Inc. raised its holdings in shares of Procter & Gamble Company (The) (NYSE:PG – Free Report) by 1.4% in the 1st quarter, Holdings Channel reports. The firm owned 16,068 shares of the company’s stock after purchasing an additional 217 shares during the quarter. Procter & Gamble comprises about 0.8% of Ballast Inc.’s investment portfolio, making the stock its 26th biggest holding. Ballast Inc.’s holdings in Procter & Gamble were worth $2,738,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Nuveen LLC acquired a new stake in Procter & Gamble in the first quarter worth about $1,954,941,000. GAMMA Investing LLC raised its position in Procter & Gamble by 20,758.5% in the first quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company’s stock worth $1,355,087,000 after acquiring an additional 7,913,335 shares in the last quarter. Capital Research Global Investors raised its position in Procter & Gamble by 62.5% in the fourth quarter. Capital Research Global Investors now owns 7,398,120 shares of the company’s stock worth $1,240,294,000 after acquiring an additional 2,846,560 shares in the last quarter. Northern Trust Corp raised its position in Procter & Gamble by 10.1% in the fourth quarter. Northern Trust Corp now owns 29,395,208 shares of the company’s stock worth $4,928,107,000 after acquiring an additional 2,703,757 shares in the last quarter. Finally, Invesco Ltd. raised its position in Procter & Gamble by 19.8% in the first quarter. Invesco Ltd. now owns 13,493,604 shares of the company’s stock worth $2,299,580,000 after acquiring an additional 2,228,151 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.
Procter & Gamble Stock Performance
Shares of NYSE PG opened at $153.55 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.70 and a quick ratio of 0.49. The stock’s fifty day moving average price is $158.26 and its two-hundred day moving average price is $163.66. Procter & Gamble Company has a one year low of $149.91 and a one year high of $180.43. The firm has a market cap of $359.67 billion, a price-to-earnings ratio of 23.59, a P/E/G ratio of 4.05 and a beta of 0.37.
Procter & Gamble Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be given a $1.0568 dividend. The ex-dividend date is Friday, July 18th. This represents a $4.23 annualized dividend and a yield of 2.8%. Procter & Gamble’s dividend payout ratio (DPR) is currently 64.98%.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on PG. Wells Fargo & Company dropped their target price on Procter & Gamble from $175.00 to $173.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Morgan Stanley set a $180.00 price target on Procter & Gamble and gave the company an “overweight” rating in a research note on Friday, April 25th. Evercore ISI reissued an “in-line” rating and issued a $170.00 price target (down previously from $190.00) on shares of Procter & Gamble in a research note on Monday, July 14th. UBS Group set a $180.00 price target on Procter & Gamble and gave the company a “buy” rating in a research note on Wednesday, July 30th. Finally, Raymond James Financial lowered their price target on Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Procter & Gamble presently has a consensus rating of “Moderate Buy” and an average price target of $175.88.
Get Our Latest Report on Procter & Gamble
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.
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