Royal Bank of Canada Sells 119,989 Shares of The Procter & Gamble Company (NYSE:PG)

Royal Bank of Canada cut its position in The Procter & Gamble Company (NYSE:PG) by 0.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 17,162,517 shares of the company’s stock after selling 119,989 shares during the period. Procter & Gamble makes up about 0.6% of Royal Bank of Canada’s investment portfolio, making the stock its 28th largest holding. Royal Bank of Canada’s holdings in Procter & Gamble were worth $2,877,297,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. NewSquare Capital LLC grew its position in Procter & Gamble by 933.3% during the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after buying an additional 140 shares during the period. Navigoe LLC purchased a new position in shares of Procter & Gamble in the fourth quarter worth $31,000. Hoey Investments Inc. lifted its holdings in shares of Procter & Gamble by 321.7% in the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock worth $33,000 after buying an additional 148 shares in the last quarter. LFA Lugano Financial Advisors SA purchased a new position in shares of Procter & Gamble in the fourth quarter worth $34,000. Finally, Atlantic Private Wealth LLC raised its stake in Procter & Gamble by 95.3% during the fourth quarter. Atlantic Private Wealth LLC now owns 207 shares of the company’s stock valued at $35,000 after purchasing an additional 101 shares in the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PG shares. Redburn Atlantic downgraded shares of Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 price target on the stock. in a research note on Thursday, May 1st. JPMorgan Chase & Co. cut their price target on shares of Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Truist Financial dropped their target price on shares of Procter & Gamble from $185.00 to $180.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Raymond James dropped their target price on shares of Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Finally, DA Davidson reissued a “buy” rating and set a $209.00 price target on shares of Procter & Gamble in a research report on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average target price of $178.52.

Insider Buying and Selling

In related news, CEO Jennifer L. Davis sold 1,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 51,965 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the transaction, the insider now directly owns 25,182 shares of the company’s stock, valued at $3,995,627.94. The trade was a 29.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,520 shares of company stock worth $10,999,268 in the last 90 days. Insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Performance

Shares of NYSE PG opened at $162.27 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a 12 month low of $156.58 and a 12 month high of $180.43. The company has a 50 day simple moving average of $164.69 and a two-hundred day simple moving average of $167.32. The stock has a market cap of $380.45 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 3.76 and a beta of 0.41.

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

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were given a $1.0568 dividend. The ex-dividend date was Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.61%. This is an increase from Procter & Gamble’s previous quarterly dividend of $1.01. Procter & Gamble’s dividend payout ratio is 66.98%.

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.