NorthCrest Asset Manangement LLC Grows Stake in The Procter & Gamble Company (NYSE:PG)

NorthCrest Asset Manangement LLC boosted its stake in shares of The Procter & Gamble Company (NYSE:PG) by 8.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 162,627 shares of the company’s stock after acquiring an additional 13,068 shares during the quarter. Procter & Gamble comprises 0.8% of NorthCrest Asset Manangement LLC’s investment portfolio, making the stock its 28th biggest holding. NorthCrest Asset Manangement LLC’s holdings in Procter & Gamble were worth $27,265,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. NewSquare Capital LLC grew its position in shares of Procter & Gamble by 933.3% in the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after purchasing an additional 140 shares during the period. Navigoe LLC acquired a new stake in Procter & Gamble during the fourth quarter valued at approximately $31,000. Capital A Wealth Management LLC acquired a new stake in Procter & Gamble in the fourth quarter worth $31,000. Hoey Investments Inc. grew its stake in shares of Procter & Gamble by 321.7% in the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 148 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA bought a new position in Procter & Gamble during the fourth quarter valued at about $34,000. 65.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on PG. Raymond James reduced their price objective on Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Erste Group Bank lowered Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Piper Sandler upped their price objective on Procter & Gamble from $160.00 to $164.00 and gave the company a “neutral” rating in a report on Monday, May 5th. JPMorgan Chase & Co. reduced their price objective 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. Finally, Redburn Atlantic downgraded shares of Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 target price on the stock. in a report on Thursday, May 1st. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and an average price target of $178.52.

Procter & Gamble Trading Up 1.1%

Shares of Procter & Gamble stock opened at $167.75 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The stock has a 50 day moving average of $164.14 and a 200 day moving average of $167.35. The Procter & Gamble Company has a fifty-two week low of $156.58 and a fifty-two week high of $180.43. The firm has a market capitalization of $393.30 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.01. 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 during the quarter, compared to the consensus estimate of $20.42 billion. During the same quarter last year, the firm earned $1.52 earnings per share. The firm’s revenue was down 2.1% compared to the same quarter last year. As a group, research analysts predict that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, April 21st were paid a $1.0568 dividend. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. The ex-dividend date was Monday, April 21st. This represents a $4.23 annualized dividend and a dividend yield of 2.52%. Procter & Gamble’s payout ratio is 66.98%.

Insider Transactions at Procter & Gamble

In other news, CEO Gary A. Coombe sold 35,000 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the transaction, the chief executive officer now owns 22,051 shares of the company’s stock, valued at approximately $3,829,817.68. This represents a 61.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of Procter & Gamble stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $158.67, for a total value of $1,669,208.40. Following the sale, the insider now directly owns 25,182 shares in the company, valued at $3,995,627.94. The trade was a 29.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,520 shares of company stock worth $7,909,388. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Company 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.