Cannell & Co. Boosts Stock Position in The Procter & Gamble Company (NYSE:PG)

Cannell & Co. increased its stake in The Procter & Gamble Company (NYSE:PG) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 56,781 shares of the company’s stock after purchasing 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.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wendell David Associates Inc. boosted its stake in Procter & Gamble by 0.5% during the third quarter. Wendell David Associates Inc. now owns 93,825 shares of the company’s stock valued at $13,685,000 after buying an additional 491 shares during the period. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in shares of Procter & Gamble by 9.3% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 23,924 shares of the company’s stock valued at $3,490,000 after purchasing an additional 2,043 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its holdings in shares of Procter & Gamble by 10.8% during the 3rd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 20,677 shares of the company’s stock valued at $3,016,000 after purchasing an additional 2,011 shares during the last quarter. Modus Advisors LLC grew its holdings in shares of Procter & Gamble by 1.4% during the 3rd quarter. Modus Advisors LLC now owns 15,310 shares of the company’s stock valued at $2,233,000 after purchasing an additional 214 shares during the last quarter. Finally, Signet Investment Advisory Group Inc. grew its holdings in shares of Procter & Gamble by 1.2% during the 3rd quarter. Signet Investment Advisory Group Inc. now owns 20,571 shares of the company’s stock valued at $3,000,000 after purchasing an additional 244 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Procter & Gamble news, CEO R. Alexandra Keith sold 776 shares of Procter & Gamble stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $158.11, for a total value of $122,693.36. Following the completion of the transaction, the chief executive officer now directly owns 4,859 shares of the company’s stock, valued at $768,256.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Procter & Gamble news, CEO R. Alexandra Keith sold 776 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $158.11, for a total value of $122,693.36. Following the completion of the transaction, the chief executive officer now directly owns 4,859 shares in the company, valued at $768,256.49. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gary A. Coombe sold 22,000 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $161.32, for a total transaction of $3,549,040.00. Following the completion of the transaction, the chief executive officer now directly owns 36,845 shares in the company, valued at approximately $5,943,835.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,865 shares of company stock valued at $9,009,280. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Procter & Gamble from $172.00 to $171.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Stifel Nicolaus raised their price target on shares of Procter & Gamble from $155.00 to $157.00 and gave the stock a “hold” rating in a report on Wednesday, January 24th. Jefferies Financial Group raised their price target on shares of Procter & Gamble from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Truist Financial raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and raised their price target for the stock from $160.00 to $175.00 in a report on Monday, March 11th. Finally, Barclays raised their price target on shares of Procter & Gamble from $168.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $169.76.

Procter & Gamble Stock Up 0.1 %

NYSE PG traded up $0.10 during trading hours on Wednesday, reaching $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 52-week low of $141.45 and a 52-week high of $164.32. The firm has a market cap of $385.41 billion, a PE ratio of 26.65, a PEG ratio of 3.28 and a beta of 0.44. The firm has a 50-day simple moving average of $159.82 and a 200 day simple moving average of $153.91. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.69 and a quick ratio of 0.48.

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

Procter & Gamble Increases Dividend

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

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.