Cullen Frost Bankers Inc. lowered its stake in Procter & Gamble Company (The) (NYSE:PG – Free Report) by 1.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 305,704 shares of the company’s stock after selling 3,463 shares during the period. Cullen Frost Bankers Inc.’s holdings in Procter & Gamble were worth $52,098,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Cladis Investment Advisory LLC grew its position in Procter & Gamble by 5.2% in the fourth quarter. Cladis Investment Advisory LLC now owns 4,807 shares of the company’s stock valued at $806,000 after acquiring an additional 236 shares during the last quarter. FAS Wealth Partners Inc. grew its holdings in shares of Procter & Gamble by 2.0% during the fourth quarter. FAS Wealth Partners Inc. now owns 27,690 shares of the company’s stock worth $4,642,000 after purchasing an additional 549 shares during the last quarter. Capital Investment Advisory Services LLC grew its holdings in shares of Procter & Gamble by 13.8% during the first quarter. Capital Investment Advisory Services LLC now owns 37,709 shares of the company’s stock worth $6,426,000 after purchasing an additional 4,562 shares during the last quarter. World Investment Advisors grew its holdings in shares of Procter & Gamble by 6.0% during the first quarter. World Investment Advisors now owns 50,913 shares of the company’s stock worth $8,677,000 after purchasing an additional 2,886 shares during the last quarter. Finally, Yoffe Investment Management LLC bought a new stake in shares of Procter & Gamble during the fourth quarter worth about $1,874,000. Institutional investors own 65.77% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently weighed in on the company. Bank of America reduced their price target on Procter & Gamble from $190.00 to $180.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Raymond James Financial cut their price objective on Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Morgan Stanley set a $180.00 price objective on Procter & Gamble and gave the stock an “overweight” rating in a research note on Friday, April 25th. Barclays lifted their price objective on Procter & Gamble from $160.00 to $161.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Piper Sandler lifted their price objective on Procter & Gamble from $160.00 to $164.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Nine equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $177.25.
Procter & Gamble Trading Down 0.7%
NYSE PG opened at $152.61 on Wednesday. The company has a market cap of $357.80 billion, a price-to-earnings ratio of 24.22, a P/E/G ratio of 4.38 and a beta of 0.40. Procter & Gamble Company has a 52 week low of $151.90 and a 52 week high of $180.43. The business has a 50 day moving average price of $161.54 and a 200-day moving average price of $164.68. The company has a quick ratio of 0.50, a current ratio of 0.71 and a debt-to-equity ratio of 0.47.
Procter & Gamble (NYSE:PG – Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.53 by $0.01. The firm had revenue of $19.78 billion during the quarter, compared to the consensus estimate of $20.42 billion. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.52 earnings per share. As a group, equities analysts expect that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.
Procter & Gamble Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be issued a dividend of $1.0568 per share. The ex-dividend date is Friday, July 18th. This represents a $4.23 annualized dividend and a yield of 2.77%. Procter & Gamble’s dividend payout ratio (DPR) is currently 67.14%.
Insider Buying and Selling at Procter & Gamble
In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the sale, the insider owned 25,182 shares in the company, valued at approximately $3,995,627.94. This represents a 29.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jennifer L. Davis sold 1,000 shares of the company’s stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total value of $161,380.00. Following the sale, the chief executive officer owned 51,965 shares of the company’s stock, valued at $8,386,111.70. This trade represents a 1.89% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.
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.
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