Pitcairn Co. Decreases Stake in The Procter & Gamble Company (NYSE:PG)

Pitcairn Co. cut its stake in shares of The Procter & Gamble Company (NYSE:PG) by 3.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 107,324 shares of the company’s stock after selling 3,439 shares during the quarter. Procter & Gamble accounts for about 1.1% of Pitcairn Co.’s investment portfolio, making the stock its 15th biggest holding. Pitcairn Co.’s holdings in Procter & Gamble were worth $17,993,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewSquare Capital LLC boosted its holdings in shares of Procter & Gamble by 933.3% in the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after acquiring an additional 140 shares during the last quarter. Hoey Investments Inc. boosted its holdings in Procter & Gamble by 321.7% in the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock valued at $33,000 after purchasing an additional 148 shares during the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in Procter & Gamble during the 4th quarter worth about $34,000. Atlantic Private Wealth LLC raised its stake in shares of Procter & Gamble by 95.3% during the 4th quarter. Atlantic Private Wealth LLC now owns 207 shares of the company’s stock valued at $35,000 after buying an additional 101 shares during the last quarter. Finally, Prudent Man Investment Management Inc. acquired a new position in shares of Procter & Gamble in the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Wall Street Analysts Forecast Growth

PG has been the subject of a number of analyst reports. Piper Sandler decreased their price target on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Barclays reissued an “equal weight” rating on shares of Procter & Gamble in a report on Thursday, March 27th. DA Davidson reiterated a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. Wells Fargo & Company raised their target price on Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, Stifel Nicolaus increased their price target on Procter & Gamble from $161.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.82.

Procter & Gamble Price Performance

Shares of NYSE PG opened at $169.74 on Thursday. The firm has a 50-day simple moving average of $169.07 and a 200-day simple moving average of $169.27. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $398.02 billion, a price-to-earnings ratio of 27.03, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a 52 week low of $153.52 and a 52 week high of $180.43.

Procter & Gamble (NYSE:PG) last released its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. The business had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $1.84 EPS. On average, equities analysts predict that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble’s dividend payout ratio (DPR) is presently 64.01%.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, CEO Gary A. Coombe sold 35,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $173.68, for a total value of $6,078,800.00. Following the transaction, the chief executive officer now directly owns 22,051 shares in the company, valued at $3,829,817.68. The trade was a 61.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the sale, the insider now owns 172,814 shares of the company’s stock, valued at $28,313,845.76. This represents a 34.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 143,450 shares of company stock worth $23,988,008 in the last quarter. Company 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.