Gofen & Glossberg LLC IL decreased its holdings in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 1.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 691,305 shares of the company’s stock after selling 8,223 shares during the period. Procter & Gamble accounts for 2.4% of Gofen & Glossberg LLC IL’s portfolio, making the stock its 5th largest position. Gofen & Glossberg LLC IL’s holdings in Procter & Gamble were worth $105,631,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in PG. Norges Bank bought a new position in shares of Procter & Gamble during the fourth quarter valued at approximately $3,726,603,000. GQG Partners LLC bought a new position in shares of Procter & Gamble during the fourth quarter valued at approximately $1,231,791,000. UBS Asset Management Americas Inc. increased its stake in shares of Procter & Gamble by 33.7% during the third quarter. UBS Asset Management Americas Inc. now owns 13,748,859 shares of the company’s stock valued at $1,922,090,000 after purchasing an additional 3,467,039 shares in the last quarter. BlackRock Inc. increased its position in shares of Procter & Gamble by 1.2% during the fourth quarter. BlackRock Inc. now owns 156,813,285 shares of the company’s stock valued at $25,651,517,000 after acquiring an additional 1,785,863 shares in the last quarter. Finally, State Street Corp increased its position in shares of Procter & Gamble by 1.7% during the fourth quarter. State Street Corp now owns 105,458,164 shares of the company’s stock valued at $17,250,846,000 after acquiring an additional 1,716,517 shares in the last quarter. 63.64% of the stock is owned by institutional investors and hedge funds.
Shares of Procter & Gamble stock opened at $144.35 on Friday. The company’s fifty day simple moving average is $149.07 and its 200-day simple moving average is $154.34. The stock has a market capitalization of $346.34 billion, a PE ratio of 25.19, a P/E/G ratio of 4.03 and a beta of 0.40. The Procter & Gamble Company has a 1-year low of $129.50 and a 1-year high of $165.35. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.68 and a quick ratio of 0.47.
Procter & Gamble (NYSE:PG – Get Rating) last issued its quarterly earnings results on Wednesday, April 20th. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.05. The business had revenue of $19.38 billion for the quarter, compared to analysts’ expectations of $18.69 billion. Procter & Gamble had a net margin of 18.33% and a return on equity of 32.39%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.26 EPS. As a group, research analysts anticipate that The Procter & Gamble Company will post 5.84 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 16th. Stockholders of record on Friday, April 22nd were paid a dividend of $0.9133 per share. This represents a $3.65 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Thursday, April 21st. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.87. Procter & Gamble’s dividend payout ratio (DPR) is currently 63.70%.
Several equities research analysts recently weighed in on PG shares. Jefferies Financial Group raised their price target on shares of Procter & Gamble from $179.00 to $185.00 in a research report on Thursday, April 21st. Raymond James raised their price target on shares of Procter & Gamble from $175.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, April 21st. JPMorgan Chase & Co. downgraded shares of Procter & Gamble from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $181.00 to $165.00 in a research report on Wednesday, March 30th. Credit Suisse Group lifted their target price on shares of Procter & Gamble from $140.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, April 21st. Finally, Barclays cut their target price on shares of Procter & Gamble from $176.00 to $157.00 and set an “overweight” rating for the company in a research report on Monday, May 23rd. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.64.
In related news, CAO Matthew W. Janzaruk sold 334 shares of Procter & Gamble stock in a transaction on Tuesday, April 26th. The shares were sold at an average price of $162.43, for a total transaction of $54,251.62. Following the transaction, the chief accounting officer now owns 1,220 shares in the company, valued at approximately $198,164.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman David S. Taylor sold 60,000 shares of Procter & Gamble stock in a transaction on Thursday, April 21st. The shares were sold at an average price of $164.52, for a total transaction of $9,871,200.00. Following the transaction, the chairman now owns 253,933 shares in the company, valued at approximately $41,777,057.16. The disclosure for this sale can be found here. Insiders have sold a total of 108,415 shares of company stock worth $17,777,055 in the last quarter. Corporate insiders own 0.51% of the company’s stock.
About Procter & Gamble (Get Rating)
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.
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