Modus Advisors LLC boosted its holdings in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 5.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,096 shares of the company’s stock after acquiring an additional 724 shares during the period. Modus Advisors LLC’s holdings in Procter & Gamble were worth $2,291,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Axiom Financial Strategies LLC increased its position in Procter & Gamble by 7.0% during the 1st quarter. Axiom Financial Strategies LLC now owns 1,728 shares of the company’s stock valued at $276,000 after buying an additional 113 shares in the last quarter. AMI Investment Management Inc. boosted its holdings in Procter & Gamble by 7.2% in the first quarter. AMI Investment Management Inc. now owns 3,461 shares of the company’s stock worth $529,000 after acquiring an additional 233 shares in the last quarter. LSV Asset Management increased its holdings in shares of Procter & Gamble by 5.7% during the first quarter. LSV Asset Management now owns 18,600 shares of the company’s stock valued at $2,842,000 after acquiring an additional 1,000 shares in the last quarter. Ergoteles LLC purchased a new position in shares of Procter & Gamble in the 1st quarter worth about $3,073,000. Finally, Wsfs Capital Management LLC boosted its stake in Procter & Gamble by 12.0% in the 1st quarter. Wsfs Capital Management LLC now owns 4,256 shares of the company’s stock worth $650,000 after purchasing an additional 455 shares in the last quarter. Institutional investors own 63.43% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently issued reports on PG shares. Truist Financial downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating and dropped their target price for the stock from $165.00 to $155.00 in a research note on Thursday, May 18th. Royal Bank of Canada increased their target price on Procter & Gamble from $165.00 to $167.00 and gave the company a “sector perform” rating in a research note on Monday, July 31st. William Blair started coverage on Procter & Gamble in a research note on Friday, September 8th. They issued a “market perform” rating for the company. They noted that the move was a valuation call. JPMorgan Chase & Co. increased their price objective on Procter & Gamble from $164.00 to $172.00 in a research report on Friday, July 28th. Finally, Bank of America upped their target price on shares of Procter & Gamble from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Procter & Gamble presently has a consensus rating of “Moderate Buy” and an average target price of $164.82.
Insiders Place Their Bets
In other news, COO Shailesh Jejurikar sold 11,522 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $154.13, for a total transaction of $1,775,885.86. Following the sale, the chief operating officer now directly owns 10,135 shares in the company, valued at approximately $1,562,107.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Shailesh Jejurikar sold 11,522 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $154.13, for a total value of $1,775,885.86. Following the transaction, the chief operating officer now directly owns 10,135 shares in the company, valued at $1,562,107.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matthew W. Janzaruk sold 33,022 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $156.26, for a total value of $5,160,017.72. Following the sale, the chief accounting officer now owns 888 shares of the company’s stock, valued at approximately $138,758.88. The disclosure for this sale can be found here. Insiders sold a total of 106,607 shares of company stock worth $16,523,793 over the last three months. 0.17% of the stock is currently owned by company insiders.
Procter & Gamble Trading Up 1.1 %
Shares of Procter & Gamble stock opened at $154.79 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.63 and a quick ratio of 0.44. The stock has a market capitalization of $364.89 billion, a PE ratio of 26.24, a P/E/G ratio of 3.81 and a beta of 0.42. The Procter & Gamble Company has a 1-year low of $122.18 and a 1-year high of $158.38. The company’s fifty day simple moving average is $153.20 and its 200-day simple moving average is $150.06.
Procter & Gamble (NYSE:PG – Get Free Report) last released its quarterly earnings results on Friday, July 28th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.05. Procter & Gamble had a return on equity of 32.88% and a net margin of 17.87%. The business had revenue of $20.60 billion during the quarter, compared to analyst estimates of $20.01 billion. During the same quarter in the previous year, the company posted $1.21 earnings per share. Procter & Gamble’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, equities analysts anticipate that The Procter & Gamble Company will post 6.38 earnings per share for the current year.
Procter & Gamble Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Friday, July 21st were paid a dividend of $0.9407 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Thursday, July 20th. Procter & Gamble’s payout ratio is 63.73%.
About Procter & Gamble
The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.
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