Northern Trust Corp Boosts Stake in The Procter & Gamble Company (NYSE:PG)

Northern Trust Corp grew its position in The Procter & Gamble Company (NYSE:PG) by 10.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 29,395,208 shares of the company’s stock after acquiring an additional 2,703,757 shares during the quarter. Procter & Gamble comprises 0.7% of Northern Trust Corp’s investment portfolio, making the stock its 16th biggest position. Northern Trust Corp’s holdings in Procter & Gamble were worth $4,928,107,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lakeridge Wealth Management LLC grew its holdings in shares of Procter & Gamble by 0.6% in the fourth quarter. Lakeridge Wealth Management LLC now owns 10,807 shares of the company’s stock valued at $1,812,000 after purchasing an additional 60 shares in the last quarter. Colton Groome Financial Advisors LLC grew its holdings in shares of Procter & Gamble by 3.2% in the fourth quarter. Colton Groome Financial Advisors LLC now owns 1,995 shares of the company’s stock valued at $334,000 after purchasing an additional 62 shares in the last quarter. Tevis Investment Management grew its holdings in shares of Procter & Gamble by 0.6% in the fourth quarter. Tevis Investment Management now owns 11,633 shares of the company’s stock valued at $1,950,000 after purchasing an additional 65 shares in the last quarter. Dakota Community Bank & Trust NA grew its holdings in shares of Procter & Gamble by 3.3% in the fourth quarter. Dakota Community Bank & Trust NA now owns 2,078 shares of the company’s stock valued at $348,000 after purchasing an additional 66 shares in the last quarter. Finally, Alhambra Investment Management LLC grew its holdings in shares of Procter & Gamble by 1.2% in the fourth quarter. Alhambra Investment Management LLC now owns 5,785 shares of the company’s stock valued at $970,000 after purchasing an additional 66 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Gary A. Coombe sold 35,000 shares of Procter & Gamble stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $173.68, for a total value of $6,078,800.00. Following the transaction, the chief executive officer now owns 22,051 shares in the company, valued at $3,829,817.68. The trade was a 61.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by insiders.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $161.04 on Monday. The firm has a market cap of $377.61 billion, a P/E ratio of 25.64, a P/E/G ratio of 3.76 and a beta of 0.43. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a 12 month low of $156.58 and a 12 month high of $180.43. The stock’s fifty day moving average price is $168.16 and its 200-day moving average price is $168.32.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.54 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.03). Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The firm had revenue of $19.78 billion for the quarter, compared to analysts’ expectations of $20.42 billion. During the same quarter in the prior year, the business posted $1.52 EPS. On average, equities research analysts expect that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 21st will be paid a $1.0568 dividend. This represents a $4.23 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Monday, April 21st. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.01. Procter & Gamble’s payout ratio is 66.98%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PG shares. Stifel Nicolaus raised their target price on shares of Procter & Gamble from $161.00 to $165.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. Piper Sandler restated an “underperform” rating on shares of Procter & Gamble in a research report on Friday. JPMorgan Chase & Co. lowered their price target on Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Morgan Stanley set a $180.00 price target on Procter & Gamble and gave the stock an “overweight” rating in a research report on Friday. Finally, Wells Fargo & Company raised their price target on Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and an average price target of $180.79.

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.