Korea Investment CORP increased its stake in shares of Procter & Gamble Company (The) (NYSE:PG) by 9.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,229,376 shares of the company’s stock after buying an additional 187,892 shares during the period. Procter & Gamble Company (The) comprises about 1.0% of Korea Investment CORP’s holdings, making the stock its 13th largest position. Korea Investment CORP owned 0.09% of Procter & Gamble Company (The) worth $200,309,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Harwood Advisory Group LLC boosted its position in Procter & Gamble Company (The) by 2.6% in the first quarter. Harwood Advisory Group LLC now owns 47,923 shares of the company’s stock valued at $4,306,000 after buying an additional 1,229 shares during the last quarter. Westbourne Investment Advisors Inc. boosted its position in Procter & Gamble Company (The) by 7.8% in the first quarter. Westbourne Investment Advisors Inc. now owns 17,955 shares of the company’s stock valued at $1,613,000 after buying an additional 1,300 shares during the last quarter. Sigma Planning Corp boosted its position in Procter & Gamble Company (The) by 2.4% in the first quarter. Sigma Planning Corp now owns 70,723 shares of the company’s stock valued at $6,354,000 after buying an additional 1,674 shares during the last quarter. GW Henssler & Associates Ltd. boosted its position in Procter & Gamble Company (The) by 0.4% in the first quarter. GW Henssler & Associates Ltd. now owns 145,191 shares of the company’s stock valued at $13,045,000 after buying an additional 620 shares during the last quarter. Finally, First Manhattan Co. boosted its position in Procter & Gamble Company (The) by 16.3% in the first quarter. First Manhattan Co. now owns 658,581 shares of the company’s stock valued at $59,108,000 after buying an additional 92,513 shares during the last quarter. 59.83% of the stock is owned by hedge funds and other institutional investors.
Procter & Gamble Company (NYSE PG) opened at 90.21 on Friday. The stock has a 50 day moving average of $88.40 and a 200 day moving average of $88.50. Procter & Gamble Company has a 12-month low of $81.18 and a 12-month high of $92.00. The stock has a market cap of $237.88 billion, a P/E ratio of 16.13 and a beta of 0.68.
Procter & Gamble Company (The) (NYSE:PG) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. Procter & Gamble Company (The) had a net margin of 23.56% and a return on equity of 19.52%. The firm had revenue of $16.08 billion for the quarter, compared to analysts’ expectations of $16.01 billion. During the same quarter last year, the company earned $0.79 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities research analysts anticipate that Procter & Gamble Company will post $4.13 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 21st will be paid a $0.6896 dividend. The ex-dividend date is Wednesday, July 19th. This represents a $2.76 dividend on an annualized basis and a yield of 3.06%. Procter & Gamble Company (The)’s dividend payout ratio is currently 49.37%.
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Several research analysts have recently weighed in on the stock. Deutsche Bank AG reissued a “hold” rating and set a $92.00 price objective (up from $90.00) on shares of Procter & Gamble Company (The) in a report on Saturday, July 22nd. Jefferies Group LLC restated a “buy” rating and set a $98.00 target price on shares of Procter & Gamble Company (The) in a research report on Monday, July 17th. BidaskClub lowered shares of Procter & Gamble Company (The) from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Zacks Investment Research lowered shares of Procter & Gamble Company (The) from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. Finally, Vetr lowered shares of Procter & Gamble Company (The) from a “hold” rating to a “sell” rating and set a $83.75 target price for the company. in a research report on Monday, July 3rd. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $87.16.
In related news, insider Steven D. Bishop sold 2,668 shares of Procter & Gamble Company (The) stock in a transaction on Monday, May 1st. The shares were sold at an average price of $87.34, for a total value of $233,023.12. Following the sale, the insider now owns 43,608 shares of the company’s stock, valued at approximately $3,808,722.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patrice Louvet sold 48,310 shares of Procter & Gamble Company (The) stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $86.79, for a total transaction of $4,192,824.90. Following the completion of the sale, the insider now directly owns 95,340 shares in the company, valued at approximately $8,274,558.60. The disclosure for this sale can be found here. Insiders sold a total of 199,891 shares of company stock worth $17,276,637 in the last three months. 0.35% of the stock is owned by corporate insiders.
About Procter & Gamble Company (The)
The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.
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