Saudi Central Bank Purchases 76,428 Shares of Procter & Gamble Company (The) $PG

Saudi Central Bank boosted its position in Procter & Gamble Company (The) (NYSE:PG) by 88.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 162,680 shares of the company’s stock after purchasing an additional 76,428 shares during the period. Saudi Central Bank’s holdings in Procter & Gamble were worth $23,855,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PG. Baxter Bros Inc. acquired a new stake in Procter & Gamble in the second quarter valued at approximately $12,381,000. Empowered Funds LLC bought a new stake in shares of Procter & Gamble during the second quarter valued at approximately $53,549,000. Cibc World Market Inc. raised its position in shares of Procter & Gamble by 40.6% during the fourth quarter. Cibc World Market Inc. now owns 511,833 shares of the company’s stock worth $73,351,000 after purchasing an additional 147,701 shares during the period. World Investment Advisors lifted its holdings in shares of Procter & Gamble by 15.9% in the 4th quarter. World Investment Advisors now owns 105,915 shares of the company’s stock worth $15,179,000 after purchasing an additional 14,492 shares in the last quarter. Finally, Resources Management Corp CT ADV lifted its holdings in shares of Procter & Gamble by 41.8% in the 4th quarter. Resources Management Corp CT ADV now owns 81,511 shares of the company’s stock worth $11,681,000 after purchasing an additional 24,010 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Procter & Gamble Trading Down 0.4%

Shares of Procter & Gamble stock opened at $146.29 on Friday. The company has a market capitalization of $339.78 billion, a P/E ratio of 22.10, a price-to-earnings-growth ratio of 3.64 and a beta of 0.39. The stock has a fifty day simple moving average of $146.77 and a 200 day simple moving average of $147.82. Procter & Gamble Company has a 12-month low of $137.62 and a 12-month high of $167.25. The company has a current ratio of 0.68, a quick ratio of 0.47 and a debt-to-equity ratio of 0.43.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.02. Procter & Gamble had a return on equity of 31.36% and a net margin of 18.44%.The business had revenue of $21.20 billion for the quarter, compared to analysts’ expectations of $21.38 billion. During the same period last year, the business earned $1.48 EPS. The business’s revenue was up 1.5% on a year-over-year basis. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. On average, sell-side analysts anticipate that Procter & Gamble Company will post 6.99 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 24th were issued a dividend of $1.0885 per share. The ex-dividend date was Friday, July 24th. This represents a $4.35 annualized dividend and a yield of 3.0%. Procter & Gamble’s payout ratio is 65.71%.

Insiders Place Their Bets

In other Procter & Gamble news, insider Marc S. Pritchard sold 4,030 shares of Procter & Gamble stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $143.79, for a total transaction of $579,473.70. Following the transaction, the insider owned 187,001 shares of the company’s stock, valued at $26,888,873.79. This trade represents a 2.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Matthew W. Janzaruk sold 359 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $145.24, for a total value of $52,141.16. Following the completion of the transaction, the chief accounting officer owned 1,271 shares in the company, valued at $184,600.04. The trade was a 22.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 6,627 shares of company stock valued at $953,417. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PG. Bank of America decreased their price target on shares of Procter & Gamble from $170.00 to $166.00 and set a “buy” rating for the company in a research note on Friday, July 10th. HSBC reiterated a “hold” rating and set a $149.00 price objective (down from $182.00) on shares of Procter & Gamble in a report on Thursday, July 30th. BMO Capital Markets boosted their target price on shares of Procter & Gamble from $169.00 to $170.00 and gave the stock an “outperform” rating in a research report on Monday, June 29th. JPMorgan Chase & Co. lowered their target price on shares of Procter & Gamble from $164.00 to $162.00 and set an “overweight” rating on the stock in a report on Thursday, July 16th. Finally, Argus cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Friday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average target price of $161.19.

About Procter & Gamble

Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.