USA Financial Formulas Grows Position in The Procter & Gamble Company (NYSE:PG)

USA Financial Formulas lifted its position in shares of The Procter & Gamble Company (NYSE:PG) by 87.8% in the third quarter, Holdings Channel reports. The firm owned 4,405 shares of the company’s stock after purchasing an additional 2,060 shares during the period. USA Financial Formulas’ holdings in Procter & Gamble were worth $763,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Itau Unibanco Holding S.A. acquired a new position in shares of Procter & Gamble during the second quarter worth about $28,000. Fairway Wealth LLC purchased a new stake in shares of Procter & Gamble during the 2nd quarter valued at about $29,000. Transcendent Capital Group LLC acquired a new position in Procter & Gamble during the 4th quarter worth approximately $31,000. Ruedi Wealth Management Inc. boosted its holdings in Procter & Gamble by 64.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after acquiring an additional 77 shares during the period. Finally, POM Investment Strategies LLC acquired a new stake in Procter & Gamble in the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PG. Barclays downgraded shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price for the company. in a research note on Monday, September 30th. DA Davidson assumed coverage on Procter & Gamble in a research note on Wednesday. They set a “neutral” rating and a $159.00 target price for the company. Evercore ISI lifted their target price on Procter & Gamble from $177.00 to $183.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Piper Sandler started coverage on Procter & Gamble in a research report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Procter & Gamble presently has a consensus rating of “Moderate Buy” and an average price target of $175.05.

Procter & Gamble Trading Up 0.7 %

Shares of NYSE:PG opened at $169.27 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $171.39 and its 200 day moving average price is $166.65. The company has a market cap of $399.50 billion, a PE ratio of 27.66, a P/E/G ratio of 3.73 and a beta of 0.41. The Procter & Gamble Company has a fifty-two week low of $141.66 and a fifty-two week high of $177.94.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The business had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $20.69 billion. During the same period in the previous year, the firm posted $1.37 earnings per share. The business’s revenue was down .1% on a year-over-year basis. Sell-side analysts anticipate that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s dividend payout ratio is currently 65.69%.

Insider Buying and Selling

In related news, CEO Ma. Fatima Francisco sold 96,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the transaction, the chief executive officer now owns 13,721 shares in the company, valued at $2,332,570. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO R. Alexandra Keith sold 3,373 shares of Procter & Gamble stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $170.00, for a total value of $573,410.00. Following the transaction, the chief executive officer now owns 21,513 shares of the company’s stock, valued at $3,657,210. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ma. Fatima Francisco sold 96,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the sale, the chief executive officer now directly owns 13,721 shares of the company’s stock, valued at approximately $2,332,570. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 383,194 shares of company stock valued at $65,140,718 over the last 90 days. 0.17% of the stock is currently owned by company insiders.

Procter & Gamble Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, SK-II, and Native brands.