The Procter & Gamble Company (NYSE:PG) Shares Bought by Sit Investment Associates Inc.

Sit Investment Associates Inc. boosted its holdings in The Procter & Gamble Company (NYSE:PG) by 14.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 80,245 shares of the company’s stock after acquiring an additional 10,330 shares during the period. Sit Investment Associates Inc.’s holdings in Procter & Gamble were worth $13,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of PG. Berkshire Asset Management LLC PA grew its holdings in Procter & Gamble by 0.9% in the 4th quarter. Berkshire Asset Management LLC PA now owns 236,616 shares of the company’s stock worth $38,833,000 after buying an additional 2,179 shares in the last quarter. Strategic Advisors LLC grew its position in Procter & Gamble by 3.4% during the 4th quarter. Strategic Advisors LLC now owns 55,912 shares of the company’s stock worth $9,374,000 after purchasing an additional 1,818 shares in the last quarter. Copley Financial Group Inc. purchased a new position in Procter & Gamble during the 3rd quarter valued at about $668,000. Fortem Financial Group LLC acquired a new position in shares of Procter & Gamble in the 4th quarter valued at about $569,000. Finally, Richard C. Young & CO. LTD. lifted its position in shares of Procter & Gamble by 2.1% in the fourth quarter. Richard C. Young & CO. LTD. now owns 123,853 shares of the company’s stock worth $20,764,000 after purchasing an additional 2,568 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Procter & Gamble news, insider Marc S. Pritchard sold 90,450 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the transaction, the insider now directly owns 172,814 shares in the company, valued at $28,313,845.76. This represents a 34.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gary A. Coombe sold 35,000 shares of Procter & Gamble 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 completion of the sale, the chief executive officer now owns 22,051 shares of the company’s stock, valued at $3,829,817.68. The trade was a 61.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 143,450 shares of company stock worth $23,988,008. 0.18% of the stock is owned by corporate insiders.

Procter & Gamble Stock Down 5.0 %

Shares of Procter & Gamble stock opened at $163.73 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The company has a 50-day moving average of $169.17 and a 200 day moving average of $169.20. The Procter & Gamble Company has a 1 year low of $153.52 and a 1 year high of $180.43. The firm has a market cap of $383.92 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The firm had revenue of $21.88 billion for the quarter, compared to the consensus estimate of $21.66 billion. During the same quarter last year, the firm posted $1.84 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were issued a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble’s dividend payout ratio is currently 64.01%.

Analysts Set New Price Targets

Several research firms have commented on PG. JPMorgan Chase & Co. decreased their target price on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Piper Sandler decreased their price objective on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Royal Bank of Canada restated a “sector perform” rating and set a $164.00 target price on shares of Procter & Gamble in a report on Thursday, January 23rd. Stifel Nicolaus upped their target price on Procter & Gamble from $161.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Finally, Truist Financial raised their price target on Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $182.00.

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.