Resona Asset Management Co. Ltd. Boosts Position in Procter & Gamble Company (The) (NYSE:PG)

Resona Asset Management Co. Ltd. boosted its holdings in shares of Procter & Gamble Company (The) (NYSE:PG) by 7.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 846,043 shares of the company’s stock after buying an additional 58,204 shares during the quarter. Procter & Gamble accounts for about 0.8% of Resona Asset Management Co. Ltd.’s portfolio, making the stock its 19th largest holding. Resona Asset Management Co. Ltd.’s holdings in Procter & Gamble were worth $143,870,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PG. Cladis Investment Advisory LLC increased its holdings in shares of Procter & Gamble by 5.2% during the 4th quarter. Cladis Investment Advisory LLC now owns 4,807 shares of the company’s stock valued at $806,000 after purchasing an additional 236 shares in the last quarter. FAS Wealth Partners Inc. increased its holdings in shares of Procter & Gamble by 2.0% during the 4th quarter. FAS Wealth Partners Inc. now owns 27,690 shares of the company’s stock valued at $4,642,000 after purchasing an additional 549 shares in the last quarter. Capital Investment Advisory Services LLC increased its holdings in shares of Procter & Gamble by 13.8% during the 1st quarter. Capital Investment Advisory Services LLC now owns 37,709 shares of the company’s stock valued at $6,426,000 after purchasing an additional 4,562 shares in the last quarter. World Investment Advisors increased its holdings in shares of Procter & Gamble by 6.0% during the 1st quarter. World Investment Advisors now owns 50,913 shares of the company’s stock valued at $8,677,000 after purchasing an additional 2,886 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its holdings in shares of Procter & Gamble by 120.7% during the 1st quarter. Benjamin Edwards Inc. now owns 364,378 shares of the company’s stock valued at $62,098,000 after purchasing an additional 199,258 shares in the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Trading Up 1.0%

Shares of PG opened at $155.03 on Tuesday. Procter & Gamble Company has a 52-week low of $149.91 and a 52-week high of $180.43. The company has a quick ratio of 0.49, a current ratio of 0.70 and a debt-to-equity ratio of 0.49. The firm’s fifty day moving average is $158.01 and its two-hundred day moving average is $163.60. The stock has a market cap of $363.13 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 4.05 and a beta of 0.37.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.06. The firm had revenue of $20.89 billion for the quarter, compared to analysts’ expectations of $20.79 billion. Procter & Gamble had a net margin of 18.95% and a return on equity of 32.69%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.40 EPS. Research analysts forecast that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be given a dividend of $1.0568 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $4.23 annualized dividend and a dividend yield of 2.7%. Procter & Gamble’s payout ratio is presently 64.98%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PG shares. Piper Sandler lifted their target price on shares of Procter & Gamble from $160.00 to $164.00 and gave the company a “neutral” rating in a report on Monday, May 5th. UBS Group set a $180.00 price target on shares of Procter & Gamble and gave the stock a “buy” rating in a report on Wednesday, July 30th. Royal Bank Of Canada raised shares of Procter & Gamble from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $164.00 to $177.00 in a report on Friday, April 25th. Bank of America cut their price target on shares of Procter & Gamble from $190.00 to $180.00 and set a “buy” rating for the company in a report on Friday, April 25th. Finally, Erste Group Bank lowered shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 30th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $175.88.

Procter & Gamble Company 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.