Summit Asset Management LLC Takes Position in Procter & Gamble Company (The) $PG

Summit Asset Management LLC bought a new position in Procter & Gamble Company (The) (NYSE:PG) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 19,891 shares of the company’s stock, valued at approximately $2,917,000. Procter & Gamble accounts for 0.4% of Summit Asset Management LLC’s investment portfolio, making the stock its 29th biggest position.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Cibc World Market Inc. boosted its holdings in Procter & Gamble by 40.6% in the fourth quarter. Cibc World Market Inc. now owns 511,833 shares of the company’s stock valued at $73,351,000 after purchasing an additional 147,701 shares during the last quarter. World Investment Advisors raised its stake in shares of Procter & Gamble by 15.9% during the 4th quarter. World Investment Advisors now owns 105,915 shares of the company’s stock valued at $15,179,000 after buying an additional 14,492 shares during the last quarter. Resources Management Corp CT ADV raised its stake in shares of Procter & Gamble by 41.8% during the 4th quarter. Resources Management Corp CT ADV now owns 81,511 shares of the company’s stock valued at $11,681,000 after buying an additional 24,010 shares during the last quarter. Indivisible Partners acquired a new position in shares of Procter & Gamble in the 4th quarter valued at about $2,120,000. Finally, Rokos Capital Management LLP purchased a new stake in shares of Procter & Gamble in the first quarter worth about $29,914,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PG has been the subject of several recent research reports. TD Cowen lifted their price target on Procter & Gamble from $142.00 to $150.00 and gave the company a “hold” rating in a research report on Monday, April 27th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $163.00 price objective on shares of Procter & Gamble in a research report on Monday, April 27th. JPMorgan Chase & Co. cut their target price on shares of Procter & Gamble from $164.00 to $162.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. Citigroup decreased their target price on shares of Procter & Gamble from $181.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Finally, Rothschild & Co Redburn lowered their price target on shares of Procter & Gamble from $157.00 to $155.00 and set a “neutral” rating on the stock in a report on Monday, April 27th. Thirteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $161.52.

Procter & Gamble Stock Performance

Shares of PG stock opened at $143.00 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.47 and a debt-to-equity ratio of 0.43. Procter & Gamble Company has a 12-month low of $137.62 and a 12-month high of $167.25. The business’s 50 day moving average is $147.83 and its two-hundred day moving average is $148.72. The company has a market capitalization of $332.39 billion, a P/E ratio of 21.60, a P/E/G ratio of 4.45 and a beta of 0.39.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.02. Procter & Gamble had a return on equity of 31.36% and a net margin of 18.44%.The business had revenue of $21.20 billion during the quarter, compared to analysts’ expectations of $21.38 billion. During the same period in the previous year, the business earned $1.48 earnings per share. The business’s revenue was up 1.5% compared to the same quarter last year. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. Analysts expect that Procter & Gamble Company will post 6.98 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, July 24th were given a dividend of $1.0885 per share. The ex-dividend date was Friday, July 24th. This represents a $4.35 dividend on an annualized basis and a yield of 3.0%. Procter & Gamble’s dividend payout ratio is currently 65.71%.

Procter & Gamble Profile

Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.