The Procter & Gamble Company (NYSE:PG) Stake Lifted by Hamlin Capital Management LLC

Hamlin Capital Management LLC raised its stake in The Procter & Gamble Company (NYSE:PGGet Rating) by 4.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 802,083 shares of the company’s stock after purchasing an additional 37,217 shares during the quarter. Procter & Gamble comprises about 4.6% of Hamlin Capital Management LLC’s investment portfolio, making the stock its 7th biggest position. Hamlin Capital Management LLC’s holdings in Procter & Gamble were worth $115,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PG. Northcape Wealth Management LLC increased its position in shares of Procter & Gamble by 95.2% during the first quarter. Northcape Wealth Management LLC now owns 24,189 shares of the company’s stock worth $3,696,000 after acquiring an additional 11,800 shares during the last quarter. First Affirmative Financial Network increased its position in shares of Procter & Gamble by 6.0% during the first quarter. First Affirmative Financial Network now owns 1,934 shares of the company’s stock worth $296,000 after acquiring an additional 109 shares during the last quarter. NorthCrest Asset Manangement LLC increased its position in shares of Procter & Gamble by 624.7% during the first quarter. NorthCrest Asset Manangement LLC now owns 131,952 shares of the company’s stock worth $20,163,000 after acquiring an additional 113,745 shares during the last quarter. Calamos Wealth Management LLC increased its position in shares of Procter & Gamble by 3.8% during the first quarter. Calamos Wealth Management LLC now owns 20,240 shares of the company’s stock worth $3,093,000 after acquiring an additional 733 shares during the last quarter. Finally, Nvest Financial LLC purchased a new stake in shares of Procter & Gamble during the first quarter worth about $432,000. 63.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Procter & Gamble

In other news, CEO Ma. Fatima Francisco sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $145.00, for a total transaction of $290,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,026 shares in the company, valued at $728,770. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Ma. Fatima Francisco sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $145.00, for a total transaction of $290,000.00. Following the sale, the chief executive officer now owns 5,026 shares of the company’s stock, valued at $728,770. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Andre Schulten sold 987 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $149.33, for a total value of $147,388.71. Following the sale, the chief financial officer now directly owns 27,330 shares in the company, valued at approximately $4,081,188.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 289,321 shares of company stock worth $42,559,426. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their target price on Procter & Gamble from $171.00 to $157.00 and set a “buy” rating on the stock in a research report on Tuesday, June 21st. JPMorgan Chase & Co. dropped their target price on Procter & Gamble from $165.00 to $156.00 in a research report on Thursday, July 21st. StockNews.com lowered Procter & Gamble from a “buy” rating to a “hold” rating in a report on Wednesday, September 14th. Truist Financial lowered their price objective on Procter & Gamble from $175.00 to $160.00 and set a “buy” rating for the company in a report on Monday, August 1st. Finally, Evercore ISI set a $170.00 price objective on Procter & Gamble in a report on Monday, June 20th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Procter & Gamble presently has a consensus rating of “Moderate Buy” and an average price target of $162.93.

Procter & Gamble Stock Performance

Shares of PG stock opened at $135.73 on Thursday. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 0.50. The business has a 50 day moving average of $142.76 and a two-hundred day moving average of $147.31. The Procter & Gamble Company has a 52 week low of $129.50 and a 52 week high of $165.35. The company has a market cap of $323.78 billion, a P/E ratio of 23.36, a PEG ratio of 3.55 and a beta of 0.35.

Procter & Gamble (NYSE:PGGet Rating) last issued its earnings results on Friday, July 29th. The company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The company had revenue of $19.52 billion during the quarter, compared to analyst estimates of $19.41 billion. Procter & Gamble had a net margin of 18.39% and a return on equity of 32.67%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.13 earnings per share. As a group, analysts anticipate that The Procter & Gamble Company will post 5.94 EPS for the current year.

Procter & Gamble Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, July 22nd were given a dividend of $0.913 per share. The ex-dividend date of this dividend was Thursday, July 21st. This represents a $3.65 annualized dividend and a dividend yield of 2.69%. Procter & Gamble’s dividend payout ratio is presently 62.82%.

Procter & Gamble Profile

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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.

Further Reading

Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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