LGT Group Foundation Grows Stock Position in Procter & Gamble Company (The) (NYSE:PG)

LGT Group Foundation raised its holdings in shares of Procter & Gamble Company (The) (NYSE:PG) by 86.7% in the 1st quarter, HoldingsChannel reports. The fund owned 1,049,317 shares of the company’s stock after buying an additional 487,329 shares during the quarter. Procter & Gamble accounts for approximately 2.5% of LGT Group Foundation’s investment portfolio, making the stock its 11th biggest holding. LGT Group Foundation’s holdings in Procter & Gamble were worth $178,825,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the stock. Navigoe LLC acquired a new stake in shares of Procter & Gamble in the 4th quarter valued at about $31,000. Capital A Wealth Management LLC purchased a new position in Procter & Gamble during the 4th quarter worth $31,000. 10Elms LLP purchased a new stake in shares of Procter & Gamble in the fourth quarter valued at about $34,000. Mizuho Securities Co. Ltd. boosted its stake in shares of Procter & Gamble by 566.7% during the first quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $34,000 after buying an additional 170 shares during the period. Finally, Sunbeam Capital Management LLC acquired a new position in shares of Procter & Gamble in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Up 1.0%

Shares of Procter & Gamble stock opened at $155.03 on Tuesday. Procter & Gamble Company has a twelve month low of $149.91 and a twelve month high of $180.43. The stock has a market cap of $363.13 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 4.05 and a beta of 0.37. The company has a current ratio of 0.70, a quick ratio of 0.49 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average price of $158.01 and a 200 day moving average price of $163.60.

Procter & Gamble (NYSE:PG) last announced its earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.42 by $0.06. Procter & Gamble had a return on equity of 32.69% and a net margin of 18.95%. The business had revenue of $20.89 billion for the quarter, compared to the consensus estimate of $20.79 billion. During the same period last year, the business posted $1.40 EPS. The company’s revenue was up 1.7% on a year-over-year basis. Equities research analysts forecast that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be paid a dividend of $1.0568 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $4.23 annualized dividend and a yield of 2.7%. Procter & Gamble’s payout ratio is 64.98%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Erste Group Bank downgraded shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 30th. Bank of America cut their target price on Procter & Gamble from $190.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Truist Financial decreased their price target on Procter & Gamble from $185.00 to $180.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Morgan Stanley set a $180.00 target price on Procter & Gamble and gave the company an “overweight” rating in a report on Friday, April 25th. Finally, Wells Fargo & Company reduced their price objective on shares of Procter & Gamble from $175.00 to $173.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $175.88.

Procter & Gamble Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.