Lake Street Private Wealth LLC Grows Stock Position in The Procter & Gamble Company (NYSE:PG)

Lake Street Private Wealth LLC lifted its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 8.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,256 shares of the company’s stock after acquiring an additional 259 shares during the period. Lake Street Private Wealth LLC’s holdings in Procter & Gamble were worth $555,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. NewSquare Capital LLC lifted its position in Procter & Gamble by 933.3% during the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock worth $26,000 after acquiring an additional 140 shares during the period. Navigoe LLC purchased a new position in shares of Procter & Gamble in the fourth quarter worth about $31,000. Capital A Wealth Management LLC purchased a new stake in Procter & Gamble in the fourth quarter valued at approximately $31,000. Hoey Investments Inc. boosted its position in Procter & Gamble by 321.7% in the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock valued at $33,000 after buying an additional 148 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA acquired a new position in Procter & Gamble in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Analyst Upgrades and Downgrades

PG has been the subject of several research reports. Bank of America decreased their price objective on shares of Procter & Gamble from $190.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Truist Financial decreased their target price on shares of Procter & Gamble from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Raymond James lowered their price target on shares of Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Royal Bank of Canada upgraded Procter & Gamble from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $164.00 to $177.00 in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. decreased their price objective on Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Eight equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.86.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 10,520 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $158.67, for a total value of $1,669,208.40. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jennifer L. Davis sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total transaction of $161,380.00. Following the sale, the chief executive officer now owns 51,965 shares of the company’s stock, valued at $8,386,111.70. This represents a 1.89% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Procter & Gamble Stock Down 2.0%

PG opened at $162.62 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a twelve month low of $156.58 and a twelve month high of $180.43. The company has a market cap of $381.27 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The company has a 50-day moving average price of $164.14 and a 200 day moving average price of $167.32.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.01. The firm had revenue of $19.78 billion for the quarter, compared to analyst estimates of $20.42 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The business’s revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 earnings per share. Sell-side analysts expect that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal 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 given a dividend of $1.0568 per share. The ex-dividend date of this dividend was Monday, April 21st. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.01. This represents a $4.23 dividend on an annualized basis and a yield of 2.60%. Procter & Gamble’s payout ratio is presently 66.98%.

About Procter & Gamble

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.