IFM Investors Pty Ltd raised its position in The Procter & Gamble Company (NYSE:PG – Get Rating) by 20.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 388,470 shares of the company’s stock after buying an additional 65,318 shares during the period. Procter & Gamble accounts for 0.9% of IFM Investors Pty Ltd’s investment portfolio, making the stock its 13th biggest holding. IFM Investors Pty Ltd’s holdings in Procter & Gamble were worth $59,358,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PG. Norges Bank purchased a new position in Procter & Gamble in the 4th quarter worth $3,726,603,000. GQG Partners LLC bought a new stake in Procter & Gamble during the fourth quarter worth about $1,231,791,000. BlackRock Inc. raised its holdings in Procter & Gamble by 1.2% in the fourth quarter. BlackRock Inc. now owns 156,813,285 shares of the company’s stock worth $25,651,517,000 after buying an additional 1,785,863 shares during the last quarter. State Street Corp raised its holdings in Procter & Gamble by 1.7% in the fourth quarter. State Street Corp now owns 105,458,164 shares of the company’s stock worth $17,250,846,000 after buying an additional 1,716,517 shares during the last quarter. Finally, Sanders Capital LLC raised its holdings in Procter & Gamble by 22.3% in the fourth quarter. Sanders Capital LLC now owns 8,398,383 shares of the company’s stock worth $1,535,692,000 after buying an additional 1,532,184 shares during the last quarter. Hedge funds and other institutional investors own 63.64% of the company’s stock.
In other news, CEO Sundar G. Raman sold 1,599 shares of the firm’s stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $145.12, for a total value of $232,046.88. Following the sale, the chief executive officer now directly owns 4,002 shares in the company, valued at approximately $580,770.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.51% of the company’s stock.
Procter & Gamble Trading Down 0.7 %
Procter & Gamble (NYSE:PG – Get Rating) last issued its earnings results on Friday, July 29th. The company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.02). Procter & Gamble had a return on equity of 32.52% and a net margin of 18.39%. The business had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $19.41 billion. During the same quarter in the previous year, the company earned $1.13 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. On average, research analysts anticipate that The Procter & Gamble Company will post 5.94 EPS for the current year.
Procter & Gamble Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 22nd will be issued a $0.913 dividend. This represents a $3.65 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Thursday, July 21st. Procter & Gamble’s dividend payout ratio is currently 62.82%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Procter & Gamble from $165.00 to $156.00 in a report on Thursday, July 21st. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Procter & Gamble from $171.00 to $157.00 and set a “buy” rating for the company in a report on Tuesday, June 21st. Truist Financial decreased their price objective on shares of Procter & Gamble from $175.00 to $160.00 and set a “buy” rating for the company in a report on Monday. Jefferies Financial Group increased their price objective on shares of Procter & Gamble from $179.00 to $185.00 in a research report on Thursday, April 21st. Finally, StockNews.com lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Monday. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.93.
About Procter & Gamble
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North and Latin America, Europe, the Asia Pacific, Greater China, India, the Middle East, and Africa. It operates in five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care.
- Get a free copy of the StockNews.com research report on Procter & Gamble (PG)
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