Sandy Cove Advisors LLC Raises Stake in The Procter & Gamble Company (NYSE:PG)

Sandy Cove Advisors LLC increased its position in shares of The Procter & Gamble Company (NYSE:PG) by 4.3% during the fourth quarter, Holdings Channel reports. The fund owned 4,704 shares of the company’s stock after acquiring an additional 193 shares during the quarter. Sandy Cove Advisors LLC’s holdings in Procter & Gamble were worth $789,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its stake in Procter & Gamble by 19,030.8% in the third quarter. International Assets Investment Management LLC now owns 3,693,593 shares of the company’s stock valued at $639,730,000 after purchasing an additional 3,674,286 shares during the last quarter. Geode Capital Management LLC grew its holdings in Procter & Gamble by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock valued at $9,538,327,000 after buying an additional 3,619,466 shares during the period. Franklin Resources Inc. increased its stake in shares of Procter & Gamble by 10.2% during the 3rd quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock valued at $3,290,573,000 after acquiring an additional 1,760,214 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Procter & Gamble during the 3rd quarter worth about $301,950,000. Finally, AMF Tjanstepension AB boosted its position in shares of Procter & Gamble by 416.1% in the third quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock worth $315,016,000 after acquiring an additional 1,466,115 shares during the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PG shares. Stifel Nicolaus decreased their price target on shares of Procter & Gamble from $167.00 to $161.00 and set a “hold” rating on the stock in a report on Friday. Piper Sandler started coverage on Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 target price on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $164.00 price target on shares of Procter & Gamble in a research note on Monday, October 21st. Barclays decreased their target price on Procter & Gamble from $163.00 to $155.00 and set an “equal weight” rating for the company in a report on Friday. Finally, UBS Group cut their price target on shares of Procter & Gamble from $196.00 to $189.00 and set a “buy” rating on the stock in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average price target of $179.65.

Procter & Gamble Stock Up 0.5 %

Procter & Gamble stock opened at $161.35 on Monday. The Procter & Gamble Company has a fifty-two week low of $146.28 and a fifty-two week high of $180.43. The firm has a market capitalization of $379.98 billion, a PE ratio of 27.82, a P/E/G ratio of 3.41 and a beta of 0.45. The company’s 50-day moving average is $169.19 and its 200-day moving average is $169.42. 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 released its quarterly earnings data on Friday, October 18th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. During the same period in the previous year, the company earned $1.83 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Sell-side analysts anticipate that The Procter & Gamble Company will post 6.93 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th will be paid a dividend of $1.0065 per share. The ex-dividend date is Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.50%. Procter & Gamble’s dividend payout ratio (DPR) is currently 69.31%.

Insider Buying and Selling

In related news, CEO Gary A. Coombe sold 47,847 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was 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 owns 39,977 shares of the company’s stock, valued at $7,189,463.68. This represents a 54.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO R. Alexandra Keith sold 1,992 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total value of $338,640.00. Following the sale, the chief executive officer now owns 13,783 shares of the company’s stock, valued at approximately $2,343,110. The trade was a 12.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,439 shares of company stock valued at $13,317,460. 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.