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

Lake Street Private Wealth LLC lowered its stake in The Procter & Gamble Company (NYSE:PG) by 19.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,997 shares of the company’s stock after selling 701 shares during the period. Lake Street Private Wealth LLC’s holdings in Procter & Gamble were worth $502,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC increased its stake in shares of Procter & Gamble by 4.5% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock worth $16,300,000 after acquiring an additional 4,035 shares in the last quarter. Copley Financial Group Inc. bought a new position in shares of Procter & Gamble during the third quarter valued at approximately $668,000. Fortem Financial Group LLC bought a new stake in shares of Procter & Gamble in the 4th quarter worth approximately $569,000. Synovus Financial Corp grew its stake in shares of Procter & Gamble by 3.4% in the 3rd quarter. Synovus Financial Corp now owns 185,134 shares of the company’s stock worth $32,065,000 after buying an additional 6,077 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in Procter & Gamble by 7.5% during the 4th quarter. Nordea Investment Management AB now owns 2,898,569 shares of the company’s stock valued at $484,583,000 after buying an additional 201,695 shares in the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Stifel Nicolaus cut their target price on Procter & Gamble from $167.00 to $161.00 and set a “hold” rating on the stock in a research note on Friday. Wells Fargo & Company decreased their target price on shares of Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Piper Sandler began coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target on the stock. Barclays decreased their price objective on shares of Procter & Gamble from $163.00 to $155.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Morgan Stanley lifted their target price on Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.65.

Insiders Place Their Bets

In related news, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total value of $2,163,072.00. Following the transaction, the insider now directly owns 11,566 shares of the company’s stock, valued at approximately $1,954,538.34. The trade was a 52.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gary A. Coombe sold 47,847 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the sale, the chief executive officer now directly owns 39,977 shares of the company’s stock, valued at approximately $7,189,463.68. This trade represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,439 shares of company stock worth $13,317,460 over the last three months. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Trading Up 0.5 %

Shares of PG stock opened at $161.35 on Friday. The Procter & Gamble Company has a 1 year low of $146.28 and a 1 year high of $180.43. The firm has a fifty day moving average price of $169.19 and a 200-day moving average price of $169.38. The company has a market cap of $379.98 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 3.41 and a beta of 0.45. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. The business had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.83 earnings per share. As a group, equities analysts predict that The Procter & Gamble Company will post 6.93 earnings per share for the current year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Friday, January 24th. Procter & Gamble’s dividend payout ratio is currently 69.48%.

Procter & Gamble Company Profile

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.