The Procter & Gamble Company (NYSE:PG) Shares Acquired by Cannell & Co.

Cannell & Co. grew its position in The Procter & Gamble Company (NYSE:PG) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 56,781 shares of the company’s stock after acquiring an additional 208 shares during the quarter. Cannell & Co.’s holdings in Procter & Gamble were worth $8,321,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wyrmwood Management LLC acquired a new position in Procter & Gamble during the 4th quarter worth approximately $29,000. Naples Money Management LLC acquired a new stake in shares of Procter & Gamble during the fourth quarter worth approximately $29,000. Criterion Capital Advisors LLC acquired a new stake in Procter & Gamble in the fourth quarter valued at $33,000. Mendota Financial Group LLC boosted its stake in Procter & Gamble by 636.6% during the 4th quarter. Mendota Financial Group LLC now owns 302 shares of the company’s stock valued at $44,000 after acquiring an additional 261 shares during the last quarter. Finally, Morton Brown Family Wealth LLC grew its holdings in Procter & Gamble by 206.6% during the 4th quarter. Morton Brown Family Wealth LLC now owns 417 shares of the company’s stock worth $61,000 after acquiring an additional 281 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, insider Balaji Purushothaman sold 28,369 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $161.49, for a total value of $4,581,309.81. Following the transaction, the insider now owns 11,507 shares in the company, valued at approximately $1,858,265.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Procter & Gamble news, insider Balaji Purushothaman sold 28,369 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $161.49, for a total value of $4,581,309.81. Following the transaction, the insider now owns 11,507 shares in the company, valued at approximately $1,858,265.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Susan Street Whaley sold 3,865 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $160.60, for a total transaction of $620,719.00. Following the transaction, the insider now owns 11,886 shares in the company, valued at approximately $1,908,891.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,865 shares of company stock worth $9,009,280. 0.17% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PG. Royal Bank of Canada upped their target price on shares of Procter & Gamble from $156.00 to $157.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 24th. Barclays upped their target price on shares of Procter & Gamble from $168.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, April 23rd. Truist Financial upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and upped their target price for the company from $160.00 to $175.00 in a research note on Monday, March 11th. JPMorgan Chase & Co. cut their target price on shares of Procter & Gamble from $169.00 to $162.00 and set an “overweight” rating on the stock in a research note on Thursday, January 18th. Finally, Wells Fargo & Company upped their target price on shares of Procter & Gamble from $162.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and a consensus price target of $169.76.

Procter & Gamble Price Performance

PG stock traded up $0.10 on Wednesday, hitting $163.30. 2,982,729 shares of the company’s stock traded hands, compared to its average volume of 6,893,018. The Procter & Gamble Company has a 1-year low of $141.45 and a 1-year high of $164.32. The stock has a market cap of $385.41 billion, a price-to-earnings ratio of 26.65, a P/E/G ratio of 3.28 and a beta of 0.44. The stock has a fifty day moving average of $159.82 and a 200-day moving average of $153.91. The company has a current ratio of 0.69, a quick ratio of 0.48 and a debt-to-equity ratio of 0.49.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Friday, April 19th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.42 by $0.10. The business had revenue of $20.20 billion during the quarter, compared to the consensus estimate of $20.43 billion. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.37 EPS. On average, analysts forecast that The Procter & Gamble Company will post 6.55 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be given a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Thursday, April 18th. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. Procter & Gamble’s dividend payout ratio is 65.85%.

Procter & Gamble Profile

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.