Schneider Downs Wealth Management Advisors LP Increases Stock Position in The Procter & Gamble Company (NYSE:PG)

Schneider Downs Wealth Management Advisors LP increased its position in shares of The Procter & Gamble Company (NYSE:PGGet Rating) by 10.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,587 shares of the company’s stock after buying an additional 246 shares during the quarter. Schneider Downs Wealth Management Advisors LP’s holdings in Procter & Gamble were worth $372,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in PG. Norges Bank purchased a new stake in Procter & Gamble during the fourth quarter worth $3,726,603,000. GQG Partners LLC acquired a new position in Procter & Gamble during the fourth quarter worth $1,231,791,000. CFS Investment Advisory Services LLC raised its position in Procter & Gamble by 15,150.1% during the first quarter. CFS Investment Advisory Services LLC now owns 4,075,289 shares of the company’s stock worth $642,000 after acquiring an additional 4,048,566 shares during the period. Boston Partners raised its position in Procter & Gamble by 14,217.6% during the first quarter. Boston Partners now owns 3,415,888 shares of the company’s stock worth $522,695,000 after acquiring an additional 3,392,030 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in Procter & Gamble by 330.5% during the first quarter. Assenagon Asset Management S.A. now owns 3,372,002 shares of the company’s stock worth $515,242,000 after acquiring an additional 2,588,640 shares during the period. 63.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Procter & Gamble from $165.00 to $156.00 in a research report on Thursday, July 21st. Barclays reduced their target price on shares of Procter & Gamble from $157.00 to $154.00 and set an “overweight” rating for the company in a research report on Tuesday, August 2nd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Procter & Gamble from $171.00 to $157.00 and set a “buy” rating for the company in a research report on Tuesday, June 21st. UBS Group reduced their target price on shares of Procter & Gamble to $153.00 in a research report on Friday, July 22nd. Finally, Truist Financial reduced their target price on shares of Procter & Gamble from $175.00 to $160.00 and set a “buy” rating for the company in a research report on Monday, August 1st. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $162.93.

Insider Activity

In other news, insider Mary Theresa Grabowski sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $147.00, for a total value of $2,352,000.00. Following the completion of the transaction, the insider now owns 4,326 shares of the company’s stock, valued at $635,922. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Mary Theresa Grabowski sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $147.00, for a total value of $2,352,000.00. Following the completion of the transaction, the insider now owns 4,326 shares of the company’s stock, valued at $635,922. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Sundar G. Raman sold 1,599 shares of the firm’s stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $145.12, for a total transaction of $232,046.88. Following the completion of the sale, the chief executive officer now directly owns 4,002 shares in the company, valued at approximately $580,770.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 289,321 shares of company stock valued at $42,559,426. 0.26% of the stock is currently owned by company insiders.

Procter & Gamble Trading Down 1.3 %

Shares of PG stock opened at $135.73 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.65 and a quick ratio of 0.45. The firm has a market cap of $323.78 billion, a PE ratio of 23.36, a price-to-earnings-growth ratio of 3.53 and a beta of 0.35. The company 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 1-year low of $129.50 and a 1-year high of $165.35.

Procter & Gamble (NYSE:PGGet Rating) last announced its earnings results on Friday, July 29th. The company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.02). Procter & Gamble had a return on equity of 32.67% and a net margin of 18.39%. The company had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $19.41 billion. During the same period last year, the business earned $1.13 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, analysts predict 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 paid a $0.913 dividend. This represents a $3.65 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Thursday, July 21st. Procter & Gamble’s payout ratio is 62.82%.

Procter & Gamble Company Profile

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Procter & Gamble Company (NYSE:PGGet Rating).

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

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