Knights of Columbus Asset Advisors LLC Increases Stake in The Procter & Gamble Company (NYSE:PG)

Knights of Columbus Asset Advisors LLC grew its stake in The Procter & Gamble Company (NYSE:PG) by 1.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 51,285 shares of the company’s stock after buying an additional 829 shares during the quarter. The Procter & Gamble accounts for approximately 0.6% of Knights of Columbus Asset Advisors LLC’s portfolio, making the stock its 27th biggest position. Knights of Columbus Asset Advisors LLC’s holdings in The Procter & Gamble were worth $6,920,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PG. Magellan Asset Management Ltd boosted its stake in shares of The Procter & Gamble by 566,378.0% in the 2nd quarter. Magellan Asset Management Ltd now owns 13,340,557 shares of the company’s stock valued at $1,800,041,000 after buying an additional 13,338,202 shares during the period. Sanders Capital LLC purchased a new position in shares of The Procter & Gamble in the 2nd quarter valued at about $989,563,000. Franklin Resources Inc. lifted its stake in The Procter & Gamble by 30.2% during the first quarter. Franklin Resources Inc. now owns 17,715,905 shares of the company’s stock worth $2,399,267,000 after purchasing an additional 4,108,666 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in The Procter & Gamble by 35.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,631,943 shares of the company’s stock worth $1,439,884,000 after purchasing an additional 2,793,345 shares during the last quarter. Finally, Beacon Capital Management Inc. lifted its stake in The Procter & Gamble by 27,777.8% during the second quarter. Beacon Capital Management Inc. now owns 2,575,071 shares of the company’s stock worth $211,568,000 after purchasing an additional 2,565,834 shares during the last quarter. Institutional investors and hedge funds own 62.51% of the company’s stock.

NYSE:PG opened at $143.56 on Monday. The firm has a market cap of $348.61 billion, a P/E ratio of 26.15, a PEG ratio of 3.47 and a beta of 0.43. The company has a current ratio of 0.70, a quick ratio of 0.52 and a debt-to-equity ratio of 0.50. The stock’s 50 day simple moving average is $142.83 and its 200-day simple moving average is $137.69. The Procter & Gamble Company has a 12-month low of $121.54 and a 12-month high of $147.23.

The Procter & Gamble (NYSE:PG) last released its earnings results on Thursday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.05. The business had revenue of $18.95 billion for the quarter, compared to analyst estimates of $18.38 billion. The Procter & Gamble had a return on equity of 31.49% and a net margin of 18.80%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 earnings per share. Research analysts forecast that The Procter & Gamble Company will post 5.94 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 16th. Investors of record on Friday, July 23rd were paid a $0.8698 dividend. The ex-dividend date of this dividend was Thursday, July 22nd. This is an increase from The Procter & Gamble’s previous quarterly dividend of $0.66. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.42%. The Procter & Gamble’s payout ratio is 61.48%.

Several research firms recently weighed in on PG. Evercore ISI restated a “buy” rating and set a $163.00 target price on shares of The Procter & Gamble in a research note on Sunday, September 12th. Truist Securities boosted their target price on The Procter & Gamble from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Monday, August 2nd. Credit Suisse Group boosted their target price on The Procter & Gamble from $135.00 to $145.00 and gave the stock a “neutral” rating in a research note on Monday, August 2nd. UBS Group initiated coverage on The Procter & Gamble in a research note on Wednesday, June 23rd. They set a “neutral” rating and a $138.00 target price for the company. Finally, Erste Group raised The Procter & Gamble from a “hold” rating to a “buy” rating in a research report on Friday, August 20th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, The Procter & Gamble has an average rating of “Hold” and a consensus target price of $151.63.

In related news, CEO Shailesh Jejurikar sold 22,344 shares of The Procter & Gamble stock in a transaction that occurred on Wednesday, August 11th. The stock was sold at an average price of $142.75, for a total value of $3,189,606.00. Following the sale, the chief executive officer now directly owns 38,466 shares in the company, valued at $5,491,021.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Nelson Peltz sold 315,295 shares of The Procter & Gamble stock in a transaction that occurred on Tuesday, August 10th. The shares were sold at an average price of $142.15, for a total value of $44,819,184.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 748,024 shares of company stock worth $106,760,698. Company insiders own 0.51% of the company’s stock.

About The 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 & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment comprises of shave care like female and male blades and razors, pre and post shave products, and appliances.

See Also: Intrinsic Value

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

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