Parthenon LLC Has $23.75 Million Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Parthenon LLC reduced its position in The Procter & Gamble Company (NYSE:PGGet Rating) by 1.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 155,461 shares of the company’s stock after selling 2,611 shares during the period. Procter & Gamble accounts for approximately 3.4% of Parthenon LLC’s holdings, making the stock its 5th biggest holding. Parthenon LLC’s holdings in Procter & Gamble were worth $23,754,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Procter & Gamble in the fourth quarter valued at approximately $3,726,603,000. GQG Partners LLC acquired a new position in Procter & Gamble in the fourth quarter valued at approximately $1,231,791,000. Assenagon Asset Management S.A. boosted its stake in Procter & Gamble by 330.5% in the first quarter. Assenagon Asset Management S.A. now owns 3,372,002 shares of the company’s stock valued at $515,242,000 after acquiring an additional 2,588,640 shares during the period. BlackRock Inc. boosted its stake in Procter & Gamble by 1.2% in 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 during the period. Finally, State Street Corp boosted its stake in Procter & Gamble by 1.7% in 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 during the period. 63.64% of the stock is owned by institutional investors.

Procter & Gamble Stock Performance

PG opened at $144.72 on Friday. The company has a market capitalization of $347.23 billion, a price-to-earnings ratio of 24.91, a price-to-earnings-growth ratio of 4.00 and a beta of 0.35. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.65 and a quick ratio of 0.45. The Procter & Gamble Company has a 1-year low of $129.50 and a 1-year high of $165.35. The business has a 50 day moving average price of $142.90 and a two-hundred day moving average price of $151.06.

Procter & Gamble (NYSE:PGGet Rating) last released its earnings results on Friday, July 29th. The company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The firm had revenue of $19.52 billion during the quarter, compared to analyst estimates of $19.41 billion. Procter & Gamble had a return on equity of 32.52% and a net margin of 18.39%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $1.13 earnings per share. Research analysts predict that The Procter & Gamble Company will post 5.94 EPS for the current fiscal year.

Procter & Gamble Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 22nd will be issued a $0.913 dividend. The ex-dividend date of this dividend is Thursday, July 21st. This represents a $3.65 annualized dividend and a dividend yield of 2.52%. Procter & Gamble’s dividend payout ratio is currently 62.82%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $145.00, for a total value of $290,000.00. Following the transaction, the chief executive officer now owns 5,026 shares of the company’s stock, valued at $728,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $145.00, for a total value of $290,000.00. Following the transaction, the chief executive officer now owns 5,026 shares of the company’s stock, valued at $728,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar G. Raman sold 1,599 shares of the company’s stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $145.12, for a total value of $232,046.88. Following the completion of the transaction, the chief executive officer now directly owns 4,002 shares in the company, valued at approximately $580,770.24. The disclosure for this sale can be found here. 0.51% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on PG. JPMorgan Chase & Co. decreased their target price on Procter & Gamble from $165.00 to $156.00 in a research note on Thursday, July 21st. Wells Fargo & Company reduced their price objective on Procter & Gamble from $170.00 to $160.00 in a research report on Friday, July 22nd. Raymond James boosted their price objective on Procter & Gamble from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, April 21st. Barclays reduced their price objective on Procter & Gamble from $157.00 to $154.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Truist Financial reduced their price objective on Procter & Gamble from $175.00 to $160.00 and set a “buy” rating for the company in a research report on Monday, August 1st. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $162.93.

Procter & Gamble Profile

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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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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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