Joseph Group Capital Management Purchases New Position in The Procter & Gamble Company (NYSE:PG)

Joseph Group Capital Management bought a new stake in The Procter & Gamble Company (NYSE:PGGet Rating) during the fourth quarter, Holdings Channel.com reports. The firm bought 215 shares of the company’s stock, valued at approximately $1,527,000. Procter & Gamble makes up approximately 1.5% of Joseph Group Capital Management’s holdings, making the stock its 22nd largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. UBS Asset Management Americas Inc. grew its holdings in shares of Procter & Gamble by 33.7% during the third quarter. UBS Asset Management Americas Inc. now owns 13,748,859 shares of the company’s stock worth $1,922,090,000 after purchasing an additional 3,467,039 shares during the last quarter. Morgan Stanley boosted its position in Procter & Gamble by 5.0% during the 2nd quarter. Morgan Stanley now owns 34,500,719 shares of the company’s stock worth $4,655,181,000 after buying an additional 1,632,893 shares during the period. Neuberger Berman Group LLC grew its holdings in Procter & Gamble by 76.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 3,691,042 shares of the company’s stock worth $510,011,000 after acquiring an additional 1,598,612 shares during the last quarter. Lazard Freres Gestion S.A.S. increased its position in Procter & Gamble by 533.8% in the 4th quarter. Lazard Freres Gestion S.A.S. now owns 1,632,748 shares of the company’s stock valued at $158,123,000 after acquiring an additional 1,375,124 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Procter & Gamble during the fourth quarter worth $224,193,000. 63.64% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts recently issued reports on PG shares. The Goldman Sachs Group lowered their target price on Procter & Gamble from $179.00 to $173.00 in a research report on Tuesday, March 29th. Jefferies Financial Group lifted their price objective on Procter & Gamble from $179.00 to $185.00 in a research note on Thursday, April 21st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Procter & Gamble from $173.00 to $177.00 and gave the company a “buy” rating in a research report on Thursday, April 21st. JPMorgan Chase & Co. downgraded shares of Procter & Gamble from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $181.00 to $165.00 in a research report on Wednesday, March 30th. Finally, Credit Suisse Group lifted their target price on shares of Procter & Gamble from $140.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, April 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Procter & Gamble has a consensus rating of “Hold” and a consensus price target of $165.47.

In other Procter & Gamble news, CAO Matthew W. Janzaruk sold 334 shares of Procter & Gamble stock in a transaction on Tuesday, April 26th. The shares were sold at an average price of $162.43, for a total transaction of $54,251.62. Following the transaction, the chief accounting officer now directly owns 1,220 shares of the company’s stock, valued at approximately $198,164.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman David S. Taylor sold 12,953 shares of Procter & Gamble stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $153.51, for a total transaction of $1,988,415.03. The disclosure for this sale can be found here. In the last three months, insiders sold 128,515 shares of company stock valued at $20,862,606. 0.51% of the stock is currently owned by insiders.

NYSE PG traded up $1.63 during mid-day trading on Friday, hitting $153.62. The company’s stock had a trading volume of 5,675,512 shares, compared to its average volume of 7,990,998. The company’s 50 day simple moving average is $154.97 and its 200 day simple moving average is $155.07. The Procter & Gamble Company has a twelve month low of $131.94 and a twelve month high of $165.35. The company has a current ratio of 0.68, a quick ratio of 0.47 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $368.58 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 4.32 and a beta of 0.39.

Procter & Gamble (NYSE:PGGet Rating) last posted its quarterly earnings results on Wednesday, April 20th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.05. Procter & Gamble had a net margin of 18.33% and a return on equity of 32.39%. The business had revenue of $19.38 billion during the quarter, compared to the consensus estimate of $18.69 billion. During the same quarter last year, the firm posted $1.26 EPS. Procter & Gamble’s revenue was up 7.0% compared to the same quarter last year. As a group, research analysts forecast that The Procter & Gamble Company will post 5.84 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 16th. Investors of record on Friday, April 22nd will be given a $0.9133 dividend. The ex-dividend date of this dividend is Thursday, April 21st. This represents a $3.65 annualized dividend and a yield of 2.38%. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.87. Procter & Gamble’s dividend payout ratio (DPR) is presently 63.70%.

Procter & Gamble Profile (Get Rating)

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North and Latin America, Europe, the Asia Pacific, Greater China, India, the Middle East, and Africa. It operates in five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care.

Further Reading

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

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