Private Capital Group LLC Has $1.79 Million Stake in Procter & Gamble Co (NYSE:PG)
Private Capital Group LLC boosted its holdings in shares of Procter & Gamble Co (NYSE:PG) by 20.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,288 shares of the company’s stock after purchasing an additional 2,740 shares during the period. Private Capital Group LLC’s holdings in Procter & Gamble were worth $1,792,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. New England Investment & Retirement Group Inc. acquired a new stake in shares of Procter & Gamble in the 1st quarter valued at $28,000. Wealthcare Capital Management LLC increased its stake in shares of Procter & Gamble by 126.0% in the 4th quarter. Wealthcare Capital Management LLC now owns 339 shares of the company’s stock valued at $42,000 after buying an additional 189 shares during the period. grace capital acquired a new stake in shares of Procter & Gamble in the 4th quarter valued at $44,000. Pacifica Partners Inc. acquired a new stake in shares of Procter & Gamble in the 4th quarter valued at $44,000. Finally, Efficient Wealth Management LLC acquired a new stake in shares of Procter & Gamble in the 1st quarter valued at $39,000. 64.03% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on PG. Argus upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Thursday, March 26th. Citigroup raised their price target on Procter & Gamble from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Stifel Nicolaus raised their price target on Procter & Gamble from $117.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Morgan Stanley lifted their target price on Procter & Gamble from $125.00 to $134.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. Finally, Jefferies Financial Group upgraded Procter & Gamble from a “hold” rating to a “buy” rating and reduced their target price for the stock from $130.00 to $128.00 in a report on Monday, March 30th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $130.31.
Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Friday, April 17th. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.04. The business had revenue of $17.21 billion during the quarter, compared to analysts’ expectations of $17.29 billion. Procter & Gamble had a return on equity of 29.15% and a net margin of 7.09%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.06 earnings per share. As a group, equities research analysts predict that Procter & Gamble Co will post 4.95 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, April 24th were paid a $0.7907 dividend. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.75. This represents a $3.16 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Thursday, April 23rd. Procter & Gamble’s payout ratio is 69.91%.
In other Procter & Gamble news, Director Nelson Peltz sold 1,813,227 shares of the company’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $121.84, for a total transaction of $220,923,577.68. Following the completion of the sale, the director now directly owns 3,891 shares in the company, valued at $474,079.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Deborah P. Majoras sold 12,589 shares of the company’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $122.68, for a total value of $1,544,418.52. Following the sale, the insider now owns 44,948 shares of the company’s stock, valued at $5,514,220.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,802,488 shares of company stock valued at $1,048,532,939. 1.75% of the stock is currently owned by corporate insiders.
Procter & Gamble Profile
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
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